BUSINESS

In Depth: New Gulf Oil Shipping Model Emerges as Supertankers Shun Strait of Hormuz

Published: Jul. 10, 2026 7:11 p.m. GMT+8

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Oil tankers and cargo ships are seen on a shipping route between the Strait of Hormuz and the Arabian Sea in the Gulf of Oman on June 16. Photo: VCG

On July 4, a Hong Kong-flagged very large crude carrier (VLCC) named Long Wind sailed out of the Persian Gulf through the Strait of Hormuz.

It was the last Chinese-owned VLCC stranded in the Persian Gulf, marking the complete withdrawal of Chinese supertankers from the volatile waters inside the strait.

Yet, just outside this perilous chokepoint, a massive fleet of Chinese VLCCs was gathering in the Gulf of Oman. According to data compiled by Caixin, about 10 Chinese VLCCs were anchored or sailing in the Gulf of Oman between July 1 and Tuesday, with more than 10 others heading there.

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What Happened When

Starting in 2024：: Sinokor began acquiring and leasing oil tankers.

By mid-2025：: Sinokor controlled 99 tankers, including 26 VLCCs.

Before late February 2026：: Sinokor Merchant Marine had already become the world's largest VLCC operator, controlling more than 100 vessels and accounting for over 20% of global compliant VLCC capacity.

Late February 2026：: A war involving the U.S., Israel and Iran erupted.

June 2026：: Saudi Arabia, the U.A.E., Kuwait, Iraq and Iran exported more than 10 million barrels of crude a day, an increase of more than 50% from May 2026, with most shipments heading to Asia. Sinokor-controlled VLCCs were transporting more than 1.4 million barrels of U.A.E. crude a day.

AI generated, for reference only