Trafigura launches Volare Shipping to operate VLCC tanker fleet

Commodity trading giant Trafigura has announced the establishment of Volare Shipping, a new dedicated group company designed to own and operate a modern fleet of Very Large Crude Carriers (VLCCs). The company plans to raise approximately $500 million through a private placement, followed by a proposed listing on the Euronext Growth Oslo stock exchange. Trafigura is expected to remain the majority owner, with shares anticipated to begin trading around October 5, 2026, under the ticker ‘VLCC’.

Volare Shipping’s initial fleet consists of six VLCCs currently in operation, with eight additional newbuild vessels on order scheduled for delivery between 2026 and 2028. The vessels are being constructed in China and are designed to be dual-fuel ammonia-ready. Trafigura will continue to provide commercial management for the fleet.

The move comes amid a period of high volatility and record freight rates in the oil tanker market. Separately, trading firms including Trafigura and Vitol are reportedly seeking steeper discounts on Venezuelan crude oil to offset rising global shipping costs caused by increased maritime security risks.