Trafigura launches Volare Shipping tanker arm with planned $500 million Oslo IPO

Amid record high VLCC rates, Geneva-based global commodities trader Trafigura announces it has established a new, dedicated group company, Volare Shipping to own, operate and scale a modern fleet of oil tankers. Volare Shipping’s fleet initially comprises six VLCCs on the water and eight newbuild vessels on order delivering 2026-28, and will be commercially managed by Trafigura’s global shipping business.

Volare Shipping has also disclosed a contemplated Private Placement to raise approximately USD500 million and a subsequent proposed listing of the Company’s shares on Euronext Growth Oslo, with Trafigura to remain as majority owner.

Trafigura currently manages approximately 500 vessels across multiple segments, including around 250 oil tankers.

The company says that through Volare Shipping, investors will gain exposure to a high-specification fleet commercially managed by one of the world’s leading tanker charterers. Access to the capital markets will, in turn, give Volare Shipping a strong platform from which to grow and expand.

Andrea Olivi, Global Head of Shipping at Trafigura and Chair of the Board of Directors of Volare Shipping, commented: “Trafigura's growing footprint in the VLCC segment has revealed a clear opportunity to invest further in modern tonnage, alongside outside investors. Long-term fundamentals in crude oil transportation remain supportive, and a dedicated, listed company gives Volare Shipping investors direct exposure to the sector. Oslo is home to one of the world's leading stock exchanges for shipping companies. Access to this market will provide Volare Shipping with a strong platform for growth, and we look forward to scaling this new platform alongside other shareholders.”

Alexandre Duff, Chief Executive Officer of Volare Shipping, commented: “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. The contemplated private placement will fully fund our current newbuilding programme, while our proven operational expertise positions Volare Shipping to deliver attractive long-term value for all shareholders.”