Trafigura Launches Volare Shipping to Capitalize on High Tanker Rates
Trafigura, a major global oil trader, has launched Volare Shipping Ltd as a new company dedicated to owning and operating a fleet of modern oil tankers. The firm currently operates six very large crude carriers (VLCCs) with eight more scheduled for delivery between 2026 and 2028. Trafigura plans to raise $500 million through a private placement, followed by an initial public offering on the Euronext Growth Oslo stock exchange under the ticker VLCC. The move comes amid record-high oil tanker freight rates driven by geopolitical tensions in the Strait of Hormuz and tight vessel supply. Volare Shipping aims to leverage Trafigura's extensive shipping expertise while providing investors direct exposure to a sector with strong long-term fundamentals, according to Andrea Olivi, Global Head of Shipping at Trafigura.
Topics: corporate restructuring shipping stock listing tanker industry