Volare Shipping currently manages six very large crude carriers, with an additional eight vessels under construction scheduled for delivery between 2026 and 2028. Trafigura will retain majority ownership of the venture, while the commercial management of the fleet remains under the parent company’s global shipping arm. The business is targeting an October 5, 2026, debut on the Euronext Growth Oslo exchange under the ticker VLCC.

Andrea Olivi, chair of the board at Volare, noted that the move provides investors with direct exposure to the crude oil transportation sector, which he describes as having strong long-term fundamentals. CEO Alexandre Duff confirmed that the capital raised from the private placement will fully finance the company's current newbuilding program. This strategic shift arrives as geopolitical tensions near the Strait of Hormuz tighten vessel supply, driving freight costs to record levels and forcing a reevaluation of risk for major oil shippers.