The multinational raw materials company Trafigura announced today the establishment of the new company Volare Shipping Ltd. which was equipped with a fleet of tankers initially made up of six very large crude carriers already in service and eight other VLCCs currently under construction with delivery scheduled in 2026 and 2028. The Singaporean group announced that the new company is managed by the shipping division of Trafigura and that Volare Shipping will be listed on the market Euronext Growth Oslo. In view of its entry into the stock market, Volare Shipping will carry out a private placement with the aim to raise about 500 million dollars. Trafigura has specified that following the listing of Volare Shipping on the market will hold the majority of the new company.

Trafigura provides that, following the approval of the request for listing from Euronext Oslo Børs and the successful completion of the private placement, the shares of Volare Shipping start trading on Euronext Growth Oslo around the next October 5 under the ticker VLCC.

Currently, Trafigura operates a fleet of about 500 Different types, including about 250 tank units. To the completion of deliveries in October 2028, Volare's fleet Shipping will have an average age of about three years.

Explaining the motivations that led Trafigura to establish the new company, Andrea Olivi, global head of Shipping at Trafigura and president of Volare Shipping, said that "the Trafigura's growing presence in the VLCC segment has highlighted a clear opportunity to invest further in modern tonnage together with external investors. I long-term fundamentals of crude oil transport remain and a dedicated, publicly traded company offers to Volare Shipping investors direct exposure to the sector. Oslo is home to one of the world's leading stock exchanges for shipping companies. Access to this market will provide to Volare Shipping a solid platform for growth".

Highlighting that "Volare Shipping joins one of the fleets Youngest and most technologically advanced VLCCs on the market access to Trafigura's global trading platform, and data analysis», the CEO of the new company, Alexandre Duff, stressed that "a Once the remaining new units have been delivered, the company will have 14 modern VLCC ships. Private placement envisaged - he explained - will fully finance the current new construction program, while our proven operational competence puts Volare Shipping in the position of generate attractive long-term value for all shareholders".