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Home Latest Energy News By Michael Kern - Sep 21, 2026, 7:30 AM CDT One of the world’s biggest oil traders, Trafigura, is spinning off its supertanker business in a new company. Trafigura on Monday said it had established a new, dedicated group company, Volare Shipping Ltd, to own, operate, and scale a modern fleet of oil tankers. The fleet will be commercially managed by Trafigura’s global shipping business.
Volare Shipping currently operates six very large crude carriers (VLCCs) and has eight newbuild vessels on order, scheduled to be delivered between 2026 and 2028. Volare Shipping has also said that it considers a private placement to raise about $500 million and a subsequent proposed listing of the company’s shares on the Euronext Growth Oslo stock exchange. Following the proposed listing, Trafigura will be the majority owner of Volare Shipping, the commodity trading giant said.
Set OilPrice.com as a preferred source in Google here . Subject to a listing approval and a successful completion of the private placement, Volare Shipping’s shares are expected to start trading on Euronext Growth Oslo on or about October 5, 2026, under the ticker VLCC. Trafigura says it currently manages about 500 vessels across multiple segments, including around 250 oil tankers.
“Long-term fundamentals in crude oil transportation remain supportive, and a dedicated, listed company gives Volare Shipping investors direct exposure to the sector,” said Andrea Olivi, Global Head of Shipping at Trafigura and Chair of the Board of Directors of Volare Shipping. “Oslo is home to one of the world's leading stock exchanges for shipping companies,” Olivi added. According to Alexandre Duff, Chief Executive Officer of Volare Shipping, “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.” Trafigura’s new venture into the tanker market comes as the Strait of Hormuz crisis has pushed oil tanker freight rates to record highs.
The daily rate to charter a tanker has recently topped $1 million for the first time ever, amid tightening supply of vessels to carry crude oil and fuels, and owners' reluctance to risk passage through the Strait of Hormuz. By Michael Kern for Oilprice.com More Top Reads From Oilprice.com Oil Prices Head for Weekly Loss as Saudi Export Fears Ease U.S. Diesel Hits Record $6.50 as Global Fuel Crunch Deepens Norway's Arctic Oil Pitch Falls Flat in Brussels Join the discussion | Back to homepage Michael Kern What I Cover My focus spans the global energy landscape and the technologies reshaping it, specifically focusing on oil and gas, renewables, and tech-driven market...
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