Trafigura launches Volare Shipping
Contemplated Private Placement and subsequent listing of Volare Shipping on Euronext Growth Oslo
Geneva, 21 September 2026 – Trafigura today announces it has established a new, dedicated group company, Volare Shipping Ltd. (“Volare Shipping” or the “Company”), to own, operate and scale a modern fleet of oil tankers. Volare Shipping’s fleet, initially comprised of six Very Large Crude Carriers (“VLCCs”) on the water and eight newbuild vessels on order, will be commercially managed by Trafigura’s global shipping business.
In connection with the Company’s launch, Volare Shipping has disclosed a contemplated Private Placement to raise approximately USD500 million and a subsequent proposed listing of the Company’s shares on Euronext Growth Oslo.1 Following the proposed listing, Trafigura will be the majority-owner of Volare Shipping.
Subject to, among other things, Euronext Oslo Børs’ approval of the Company's listing application, and a successful completion of the Private Placement, the Company’s shares are expected to commence trading on Euronext Growth Oslo on or about 5 October 2026, under the ticker “VLCC”.
Trafigura has built one of the world’s leading shipping operations. It currently manages approximately 500 vessels across multiple segments, including around 250 oil tankers.
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.
Volare Shipping currently operates six VLCCs and has eight newbuild vessels on order, delivering progressively between 2026 and 2028.
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.”
At an average age of approximately three years on full delivery in October 2028, Volare Shipping’s fleet ranks among the youngest and most technically advanced in the listed VLCC sector. The newbuild vessels are larger than standard tankers and can carry greater cargo volumes. They are also fitted with additional internal tank coating and heating systems, enabling them to transport a wider range of cargo types. All vessels comply with leading international environmental and regulatory standards and have ammonia-ready dual-fuel capability.
ENDS
Notes to editors:
1 The terms of the Contemplated Private Placement and Subsequent Listing on Euronext Growth Oslo are further described in the Company’s announcement.
For further information please contact:
Trafigura’s Press Office: +41 (0) 22 592 4528 or media@trafigura.com
About Trafigura
Trafigura provides critical resources to the world. Founded over 30 years ago and owned by its employees, the Group is at the heart of global supply, using its deep understanding of commodity markets to make supply chains more efficient, secure and sustainable.
Working across a global network, the Group deploys infrastructure, logistics, financing and market expertise to move energy and commodities from where they are produced to where they are needed. By connecting producers and consumers, we bring resilience and trust to complex supply chains. The business supplies the energy and commodities the world needs today, including oil and petroleum products, metals and minerals, gas and power, while investing in lower-carbon solutions for the future.
The Trafigura Group also comprises industrial assets and operating businesses including multi-metals producer Nyrstar, fuel storage and distribution company Puma Energy, fuel supplier and distributor Greenergy, and the Impala Terminals joint venture. The Group employs approximately 14,500 people, of which more than 1,400 are shareholders, and operates in over 150 countries.
Visit: www.trafigura.com
About Volare Shipping
Volare Shipping Ltd. is an international shipping company, incorporated in Singapore. Established and majority-owned by Trafigura, one of the world’s largest commodity trading and shipping groups, Volare Shipping owns a modern, high-specification fleet of Very Large Crude Carriers (VLCCs) under Trafigura’s commercial management.
Volare Shipping currently operates six VLCCs and has eight newbuild vessels on order, delivering progressively between 2026 and 2028. At an average age of approximately three years on full delivery, Volare Shipping’s fleet ranks among the youngest and most technically advanced in the listed VLCC sector. The newbuild vessels are larger than standard tankers and can carry greater cargo volumes. They are also fitted with additional internal tank coating and heating systems, enabling them to transport a wider range of cargo types. All vessels comply with leading international environmental and regulatory standards and have ammonia-ready dual-fuel capability.
Visit: www.volareshipping.com
IMPORTANT NOTICE
The information contained in this announcement is for background purposes only and does not purport to be full or complete. No reliance may be placed for any purpose on the information contained in this announcement or its accuracy, fairness or completeness.
These materials are not and do not form a part of any offer of securities for sale, or a solicitation of an offer to purchase, any securities of the Company in the United States or any other jurisdiction. Copies of these materials are not being made and may not be distributed or sent into any jurisdiction in which such distribution would be unlawful or would require registration or other measures.