Korean shipping company Jinnam Shipping's VLCC has conducted a covert transit through the Strait of Hormuz to avoid Iranian attacks, seeking to mitigate risks amid the ongoing Middle East conflict. Abu Dhabi National Oil Company (ADNOC) and other Middle East oil suppliers are facing difficulties in transporting oil due to the conflict, leading Jinnam Shipping to become a major beneficiary. This is impacting oil prices and VLCC charter rates.