Trafigura Launches Volare Shipping to Run 14-Strong VLCC Fleet

Trafigura has established Volare Shipping as a dedicated oil tanker owner with six Very Large Crude Carriers (VLCCs) operating and eight newbuilds on order, and plans to raise about $500 million before listing the company in Oslo.

Volare's eight newbuild VLCCs are scheduled for progressive delivery between 2026 and October 2028, taking its fleet to 14 vessels. Trafigura's global shipping business will commercially manage the fleet.

Volare is contemplating a private placement of about $500 million that would fully fund its existing newbuilding program, followed by a proposed listing on Euronext Growth Oslo.

Subject to approval of the listing application and successful completion of the placement, trading is expected to start around October 5 under the ticker ‘VLCC’. Trafigura would remain the majority owner following the listing.

The fleet will have an average age of about three years once all vessels have been delivered in October 2028.

The newbuilds are larger than standard tankers and feature additional internal tank coating and heating systems, allowing them to carry a wider range of cargoes. All of Volare's vessels have ammonia-ready dual-fuel capability.

“Volare Shipping combines one of the youngest and most technically-advanced VLCC fleets in the market with access to Trafigura’s global trading, chartering and analytics platform. Once the remaining newbuild vessels are delivered, we will own 14 modern VLCCs,” said Alexandre Duff, Volare Shipping’s CEO.

Trafigura currently manages about 500 vessels across several shipping segments, including around 250 oil tankers.