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One tycoon makes millions from 'dark' journeys on a dangerous oil route while others feared Hormuz
Amidst the Persian Gulf war, the UAE secretly navigated its oil exports through the Strait of Hormuz using 'dark' ship transits. Korean shipping tycoon Ga-Hyun Chung's Sinokor Group played a pivotal role, leasing a significant portion of vessels for these risky "shuttle runs." This covert operation allowed the UAE to maintain pre-war export levels, capitalizing on surging oil prices and creating immense profits for Sinokor and its partners.
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fortune.com
The supertanker tycoon making millions on Hormuz shuttle runs | Fortune
Ga-Hyun Chung, an intensely private Korean shipping tycoon, rocked the tanker industry early this year as his Sinokor Group embarked on an unprecedented buying spree.
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smh.com.au
Supertanker tycoon is making millions from ‘dark’ Hormuz shuttle runs
The UAE’s covert project using the South Korean shipping magnate’s tankers is so successful it is already approaching its pre-war rate of flows of oil.
