Trafigura Launches Volare Shipping with VLCC Fleet, Euronext IPO | Mariner News

Geneva – Trafigura has announced the establishment of Volare Shipping Ltd., a new dedicated group company positioned to own, operate, and scale a modern fleet of oil tankers. This strategic move signals a deeper commitment from the commodity trading giant to direct asset ownership within the crude tanker segment.

Volare Shipping’s initial fleet will comprise six Very Large Crude Carriers (VLCCs) currently on the water and an additional eight newbuild vessels on order. While Volare will own and operate these assets, commercial management will remain under Trafigura’s global shipping business, which presently manages approximately 500 vessels across various segments, including around 250 oil tankers.

To fund its growth, Volare Shipping has disclosed plans for a private placement aimed at raising approximately USD500 million. This will be followed by a proposed listing of the company’s shares on Euronext Growth Oslo, where Trafigura is expected to retain majority ownership. This approach allows Trafigura to leverage external capital for significant fleet expansion while maintaining strategic control over a crucial segment of its supply chain.

The establishment of a separately listed entity for tanker asset ownership, backed by a major trader, indicates a long-term bullish outlook on the crude oil tanker market by Trafigura. It also offers a novel financing model for integrating physical shipping assets more directly into a trading house’s operations, potentially influencing how other large commodity players approach fleet expansion and asset management in the future.

Subject to Euronext Oslo Børs’ approval and a successful completion of the private placement, Volare Shipping’s shares are expected to commence trading on Euronext Growth Oslo on or about October 5, 2026, under the ticker “VLCC”.