Volare Shipping commences trading on Euronext Growth Oslo

Volare Shipping Ltd., a subsidiary of the Trafigura Group, officially began trading on the Euronext Growth Oslo exchange on 5 October 2026. The company, which focuses on the ownership and operation of a modern oil tanker fleet, is listed under the ticker symbol VLCC. This public listing follows a successful private placement that generated gross proceeds of approximately USD 500 million. The capital raise involved the issuance of 30.7 million new shares at a price of NOK 154 per share. According to Trafigura, the offering was significantly oversubscribed, drawing interest from institutional investors, family offices, and various participants within the shipping industry.

The company currently manages a fleet consisting of six Very Large Crude Carriers (VLCCs) already in service, alongside eight additional newbuild vessels currently on order. These vessels are under the commercial management of Trafigura’s global shipping division. Management highlighted that the listing on the Oslo exchange provides an efficient platform for the company to scale its operations and build long-term value for shareholders. Alexandre Duff, Chief Executive Officer of Volare Shipping, noted that the successful initial public offering reflects investor confidence in the firm’s strategic direction and growth potential within the global shipping capital markets.

The newbuild vessels, scheduled for delivery through 2028, are designed with advanced specifications. These ships feature larger capacities than standard tankers and include specialized internal tank coatings and heating systems to accommodate a broader range of cargo types. Furthermore, the fleet is built to comply with international environmental regulations and includes ammonia-ready dual-fuel capabilities. Upon the delivery of all ordered vessels, the fleet is expected to have an average age of approximately three years, positioning it among the youngest and most technically advanced fleets currently operating within the listed VLCC sector.

Andrea Olivi, who serves as the Global Head of Shipping at Trafigura and Chair of the Board of Directors for Volare Shipping, stated that the listing represents a significant step forward for the company. He emphasized that the strong investor demand observed during the private placement phase underscores the market's interest in the business. By leveraging the sector expertise available in Oslo, the company intends to expand its presence and continue developing its fleet. The management team marked the commencement of trading by ringing the opening bell at the Euronext Growth Oslo exchange.

Trafigura, which established and maintains majority ownership of Volare Shipping, continues to operate as a major player in global commodity supply chains. The group employs approximately 14,500 people across more than 150 countries and manages a diverse portfolio of industrial assets and logistics businesses. This latest corporate development aligns with the group’s broader strategy of deploying infrastructure and financing to enhance the efficiency and sustainability of global energy and commodity transport. Volare Shipping remains incorporated in Singapore, maintaining its role as an international entity within the wider Trafigura shipping and commodity trading network.