Trafigura Launches Volare Shipping With $500 Million Oslo Listing Plan

Commodity trading giant Trafigura is launching a new tanker company with plans to raise about $500 million and list the business in Oslo, opening its growing VLCC fleet to outside investors.

The new company, Volare Shipping Ltd., will start with six very large crude carriers already on the water and eight newbuilds scheduled for delivery through 2028. Trafigura will retain a majority stake and commercially manage the fleet through its global shipping business.

The launch comes as the VLCC market is enjoying some of its strongest conditions in years, with tight vessel availability and disruptions around the Strait of Hormuz pushing