Trafigura Establishes Volare Shipping to Own and Scale VLCC Fleet
Trafigura announced on 21 September 2026 that it had established Volare Shipping Ltd. to own, operate and scale a modern fleet of oil tankers. In connection with the launch, Volare Shipping disclosed a contemplated private placement to raise approximately USD 500 million and a subsequent proposed listing of its shares on Euronext Growth Oslo.
Subject to listing approval and successful completion of the private placement, the company's shares are expected to commence trading on Euronext Growth Oslo on or about 5 October 2026 under the ticker VLCC. Trafigura will be the majority-owner of Volare Shipping following the proposed listing.
Volare Shipping currently operates six VLCCs and has eight newbuild vessels on order. The ordered newbuilds are scheduled for progressive delivery between 2026 and 2028. Once the remaining newbuild vessels are delivered, the company will own 14 modern VLCCs. Volare Shipping said the contemplated private placement will fully fund its current newbuilding programme.
On full delivery in October 2028, the fleet is expected to have an average age of approximately three years. Trafigura's global shipping business will commercially manage the fleet.
The newbuild vessels are larger than standard tankers and can carry greater cargo volumes. They are fitted with additional internal tank coating and heating systems, enabling them to transport a wider range of cargo types. All vessels comply with leading international environmental and regulatory standards and have ammonia-ready dual-fuel capability.
Volare Shipping Ltd. is incorporated in Singapore.