Billionaire Aponte’s Firm Takes Stake in Korean Tanker Giant

MSC Mediterranean Shipping Co. SA, the shipping giant founded by secretive Italian billionaire Gianluigi Aponte, bought a stake in the South Korean company that has shaken up oil tanker markets lately, the first public acknowledgment of ties between the two firms.

MSC will take joint control of Sinokor Maritime Co. through a subsidiary, alongside Ga-Hyun Chung, the Korean shipping magnate who previously held full control of the company. Sinokor has been snapping up very-large crude carriers, giving it unprecedented control over a big share of the global fleet.