World News
Trafigura Launches Tanker Firm Volare Shipping
Commodity trading company Trafigura has set up Volare Shipping as a dedicated company to own and operate a fleet of oil tankers.
The fleet currently comprises six VLCCs, with another eight on order for delivery between 2026 and 2028, the firm said in an emailed statement on Monday.
Volare Shipping plans to raise around $500 million through a private placement before seeking a listing on Euronext Growth Oslo. Trading is expected to begin around October 5, subject to approval and completion of the placement.
Trafigura will remain the majority shareholder, while its shipping business will commercially manage the fleet.
Once all newbuilds are delivered, Volare Shipping will own 14 VLCCs, with an average fleet age of about three years.
The vessels are larger than standard tankers and feature additional tank coating and heating systems.
They are also ammonia-ready and have dual-fuel capability.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 889.50 | 18.50 | 1281.00 | 10.50 |
| Rotterdam | 715.00 | 13.00 | 1374.00 | 42.50 |
| Houston | 763.00 | 3.00 | 1419.50 | 4.50 |
| Fujairah | 967.50 | 20.50 | 1694.50 | 21.50 |
| Global 20 Ports Average | 895.50 | 1.50 | 1548.50 | 6.50 |
| Global 4 Ports Average | 833.50 | 12.50 | 1442.50 | 17.50 |
| Global Average Bunker Price | 959.50 | 13.50 | 1592.50 | 0.00 |
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