The Competition Commission, sitting in a Chamber, by its unanimous decision No. 914/2026 dated June 4, 2026, approved, pursuant to Article 8(3) of Law 3959/2011, the concentration involving the change in control of Sinokor Maritime from sole control by Mr. Ga-Hyun Chung to joint control by SAS Shipping Agencies Services S.à.r.l., a subsidiary of the MSC Group, and Mr. Chung, within the meaning of Article 5(2)(b) of Law 3959/2011.
As noted in the relevant announcement, the transaction concerns the specific market for the provision of free maritime transport services for liquid bulk cargo, and more specifically the transport of liquid bulk cargo using VLCC-type tankers. The target company, Sinokor Maritime, is currently active in this sector, and the MSC Group is expected to enter the market as well.
The Competition Commission, taking into account the limited market shares of the participating companies, both in terms of total deadweight tonnage (DWT) in VLCC-type tankers as well as in terms of the number of such vessels, determined that, despite the fact that the transaction falls within the scope of Article 6(1) of Law 3959/2011, it does not alter the conditions of competition.
Consequently, the Authority concluded that the concentration under review does not raise serious doubts as to its compatibility with the requirements of effective competition in the relevant markets affected by the transaction.