An Unexpected Beneficiary of the Closure of the Strait of Hormuz 0 14

The income of Korean tycoon Ga-Hen Chong has sharply increased amid Iran's closure of the Strait of Hormuz, despite the upheavals in the global shipping market. This was reported by Bloomberg, citing an industry source.

According to journalists, in the weeks leading up to the U.S. and Israel's operation against Iran, Chong's Sinokor group moved at least six supertankers to the Persian Gulf. They were idle awaiting cargoes, but after the collapse of exports and the filling of storage facilities, the situation changed. Now, Sinokor is leasing vessels for raw material storage at $500,000 a day — nearly ten times more than in 2025.

It is claimed that Chong's recent acquisition of a significant share of the global tanker fleet has shocked the market. As a result, the tycoon may become one of the main beneficiaries of the oil crisis.