Trafigura Launches Volare Shipping to Cash In on Record Tanker Rates
Trafigura has created Volare Shipping Ltd, a new group company to own and operate a modern fleet of oil tankers, with commercial management remaining with Trafigura’s global shipping unit. Volare currently runs six VLCCs, has eight newbuilds due between 2026 and 2028, and is contemplating a roughly $500 million private placement followed by a proposed listing on Euronext Growth Oslo under the ticker VLCC.
Why It Matters
The move gives investors a direct vehicle into the crude tanker sector at a time when freight rates have spiked to record levels, driven in part by geopolitical tensions and tighter available tonnage. A listed, Trafigura-controlled shipping company could concentrate capital and growth plans for its tanker fleet while tapping public markets.
Key Facts
- New company: Volare Shipping Ltd (established by Trafigura)
- Current fleet: Six very large crude carriers (VLCCs)
- Newbuild orders: Eight vessels scheduled for delivery between 2026 and 2028
- Planned fundraising: Contemplated private placement of about $500 million
- Planned listing: Proposed listing on Euronext Growth Oslo, ticker VLCC; expected trading start on or about October 5, 2026, subject to approvals
Trafigura has launched Volare Shipping Ltd, a dedicated group company to own, operate and scale a modern fleet of oil tankers while Trafigura’s global shipping business will handle commercial management. At launch, Volare operates six very large crude carriers (VLCCs) and has eight newbuild vessels on order, with deliveries slated from 2026 through 2028.
The new entity is planning a private placement of roughly $500 million to finance its current newbuilding programme, according to Trafigura, and is proposing a subsequent listing of Volare’s shares on the Euronext Growth Oslo exchange. If listing approval and the private placement are completed, Trafigura will remain the majority owner and the company expects its shares to begin trading on or about October 5, 2026 under the ticker VLCC.
Trafigura noted that it currently manages about 500 vessels across multiple shipping segments, including roughly 250 oil tankers, and positioned the creation of Volare as a way to give investors direct exposure to crude oil transportation. Company executives said long-term fundamentals in crude shipping are supportive and highlighted Oslo’s established role as a hub for listed shipping companies.
The announcement arrives as tanker freight rates have surged, with daily charter costs for tankers recently topping $1 million for the first time amid tighter vessel availability and owners’ reluctance to route ships through the Strait of Hormuz. Trafigura’s move consolidates its tanker operations into a stand-alone, fundable vehicle at a moment of unusually strong market rates for crude transportation.
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