Volare Shipping expands VLCC fleet with newbuilding acquisition
Volare Shipping has entered into an agreement to acquire a modern very large crude carrier (VLCC) from an affiliate of Trafigura Maritime Logistics, its indirect majority shareholder, as the recently listed tanker company continues expanding its fleet.
The vessel, VENI VIDI VICI, is being acquired for $210 million and is currently undergoing sea trials at Hengli Shipyard in China. Delivery is scheduled for November 20, 2026, with completion of the transaction expected later this month, subject to financing arrangements and customary closing conditions.
The scrubber-fitted eco VLCC will become the seventh vessel in Volare’s operating fleet upon delivery, alongside eight additional newbuildings scheduled to enter service during 2027 and 2028. The acquisition will expand the company’s total fleet programme to 15 VLCCs, including vessels already operating and those awaiting delivery.
Fleet expansion following Oslo listing
The transaction comes shortly after Volare Shipping began trading on Euronext Growth Oslo in October 2026, following a private placement that raised approximately $500 million.
Established and majority-owned by Trafigura, the company was launched with six operating VLCCs and eight newbuildings under construction. Its fleet is commercially managed by Trafigura, providing access to the commodity trading group’s international shipping and chartering operations.
The addition of VENI VIDI VICI represents a further expansion beyond the company’s original fleet programme. Volare expects the vessel’s prompt delivery to contribute to earnings during the current strong tanker market, although the announcement does not disclose any charter agreement or projected revenue for the ship.
The company intends to finance the acquisition using existing cash resources and long-term lease financing. No additional details concerning the proposed financing structure or repayment terms were disclosed.
Given that the seller is affiliated with Trafigura, the acquisition constitutes a related-party transaction. Fearnley Securities, part of the Astrup Fearnley Group, is acting as financial adviser to Volare and has provided a fairness opinion in connection with the agreement.
Alexandre Duff, Chief Executive Officer of Volare Shipping, described the acquisition as another step in the company’s fleet expansion strategy, highlighting the opportunity to add modern tonnage with near-term delivery.
Following completion, Volare will operate seven modern VLCCs, with a further eight vessels expected to be delivered over the next two years. The transaction would strengthen its exposure to the crude oil transportation market while increasing the scale of its fleet under Trafigura’s commercial management.
