The Hellenic Competition Commission has confirmed the terms of the joint acquisition of the South Korean shipping company Sinokor Merchant Marine by SAS Shipping Agencies Services Sarl of the Mediterranean Shipping Company group and Ga-Hyun Chung, son of the founder of the Asian company Chung Tae-soon. The Greek authority explained that on February 2 the two parties have signed a framework agreement for investment in on the basis of which SAS will acquire 50% of the share capital of the Sinokor and joint control of the same together with the current sole shareholder, Ga-Hyun Chung, who will retain the remaining 50% of shares.

Currently, the Sinokor fleet consists of about eighty Very Large Crude Carriers to which is added a few dozen other vessels of the same type operated directly or indirectly by the company.