Trafigura Spins Off Supertanker Unit Volare Shipping, Plans $500M Oslo Listing

Trafigura said on Sept. 21, 2026, that it established Volare Shipping Ltd, a dedicated company to own and operate oil tankers, and plans a private placement of about $500 million ahead of a proposed listing on Euronext Growth Oslo. Volare currently operates six very large crude carriers and has eight newbuilds on order for delivery between 2026 and 2028. Trafigura will remain majority owner after the listing, with shares expected to begin trading on or about Oct. 5, 2026, under the ticker VLCC. The spin-off comes as the Strait of Hormuz crisis drives tanker freight rates to record highs, with daily charter rates recently topping $1 million for the first time. Trafigura manages about 500 vessels, including roughly 250 oil tankers.