According to Bloomberg, citing shipping intelligence data, South Korea's Sinokor Group spent nearly $6 billion to acquire 73 second-hand Very Large Crude Carriers (VLCCs) on the eve of the Iran war, giving it a dominant position in the oil transportation market through the Strait of Hormuz. In September this year, Sinokor's fleet transported 105.6 million barrels of crude oil through the strait, accounting for nearly 40% of the total volume for that month, exceeding the combined total of the next three state-owned shipping companies. In the first 10 days of October, its share further climbed to over 50%. Shipping analytics firm Veson Nautical noted that Mediterranean Shipping Company (MSC), the world's largest shipowner, provided financial support by acquiring a 50% stake in Sinokor Maritime earlier this year.