Trafigura Launches Volare Shipping to Cash In on Record Tanker Rates

One of the world’s biggest oil traders, Trafigura, is spinning off its supertanker business in a new company. Trafigura on Monday said it had established a new, dedicated group company, Volare Shipping Ltd, to own, operate, and scale a modern fleet of oil tankers. The fleet will be commercially managed by Trafigura’s global shipping business. Volare Shipping currently operates six very large crude carriers (VLCCs) and has eight newbuild vessels on order, scheduled to be delivered between 2026 and 2028. Volare Shipping has also said...