Key facts
- Trafigura has launched Volare Shipping Ltd., a new company dedicated to owning and operating its oil tanker fleet.
- Volare Shipping currently operates six very large crude carriers (VLCCs) and has eight newbuild vessels on order.
- The company plans to raise approximately $500 million through a private placement.
- Volare Shipping intends to list its shares on the Euronext Growth Oslo stock exchange.
- The daily rate to charter a tanker has recently exceeded $1 million.
One of the world's largest oil traders, Trafigura, has established a new company, Volare Shipping Ltd., to manage its supertanker business. The company aims to capitalize on record-high tanker rates, which have recently surpassed $1 million per day. Volare Shipping currently operates six very large crude carriers (VLCCs) and has eight newbuild vessels scheduled for delivery between 2026 and 2028. The venture comes amid geopolitical tensions, particularly concerning the Strait of Hormuz, which have tightened vessel supply and increased shipping risks. Trafigura manages approximately 500 vessels across various segments, including around 250 oil tankers. Volare Shipping plans to raise about $500 million through a private placement to fund its newbuilding program. Following this, the company intends to list its shares on the Euronext Growth Oslo stock exchange, with trading expected to commence around October 5, 2026, under the ticker VLCC. Trafigura will remain the majority owner after the listing.