Global commodity trader Trafigura has launched Volare Shipping, a separate business that will own and operate oil supertankers.
Volare currently operates six very large crude carriers (VLCCs). Another eight vessels are on order and scheduled for delivery between 2026 and 2028. Once all the newbuilds have joined the fleet, the company will operate 14 supertankers.
Trafigura plans to raise $500 million through a private placement of Volare shares. It then aims to list the business on Norway’s Euronext Growth Oslo exchange on or around 5 October 2026. The listing remains subject to a successful share sale and exchange approval.
According to Volare Shipping CEO Alexandre Duff, the planned fundraising will fully finance the company’s current newbuilding programme.
The vessels will carry both Trafigura’s own cargoes and shipments for other customers. Trafigura’s head of shipping, Andrea Olivi, said that most of its VLCCs have historically been deployed on third-party business.
Volare’s launch comes as oil tanker freight rates rise. Supply disruptions and changing trade routes have increased demand for large tankers. Owning vessels also gives a trading company greater control over transportation when charter rates fluctuate sharply.
Volare may expand into other tanker segments in the future, including smaller vessels. For now, its fleet is focused on VLCCs, each capable of carrying approximately 2 million barrels of crude oil.
Trafigura manages around 500 vessels across various shipping segments, including approximately 250 oil tankers. The launch of Volare establishes a dedicated company within those extensive shipping operations.
