Iran Threatens Legal Action Against Sinokor Vessels Starting November 1

Iran's Persian Gulf Straits Authority said on Tuesday that it will take "legal action" against all tankers belonging to South Korea's Sinokor starting November 1, after the company recorded the highest number of transit violations in three months.

The authority added, in a social media post reported by Bloomberg, that "appropriate enforcement measures" have been taken so far against at least seven tankers, without specifying the nature of these measures. It warned all cargo owners, stakeholders, and insurance providers that legal action will begin against all of the company's ships on the specified date.

A spokesperson for Sinokor did not respond to a request for comment, according to Bloomberg. Sinokor is the world's largest owner of very large crude carriers, and its vessels transported nearly 40% of the total crude that exited the Strait of Hormuz last month, which is more than the top three other operators combined, according to intelligence firm data and maritime databases.

Iran established the Persian Gulf Straits Authority earlier this year as a point of contact for vessel transits through Hormuz, and has since published a list of ships it says violated transit rules. Port News reported that the non-compliance list reached 123 ships by October 26, at a time when the region is witnessing competition for control over the world's most important energy corridor.

What do these terms mean?

Persian Gulf Straits Authority: An Iranian entity established this year to serve as a point of contact and coordinator for ship transits through the Strait of Hormuz, publishing lists of vessels it considers to be in violation.

Very Large Crude Carrier: A massive vessel designated for transporting crude oil in large quantities, abbreviated as VLCC, and used on long routes between production areas and markets.

Non-compliance list: A register published by a regulatory body containing the names of ships or companies it considers in violation of its rules, used for warnings or imposing subsequent measures.