Full Breakdown
Volare Shipping Begins Trading on Euronext Growth Oslo
By Drooid · · How we work
Listing Overview
On October 5, 2026 Volare Shipping Ltd. started trading on Euronext Growth Oslo under the ticker VLCC. A total of 70,319,479 shares were admitted to trading, and the opening price was NOK 169 per share, giving the company an initial market capitalisation of roughly NOK 11.884 billion.
Background and Ownership
Volare Shipping is a Singapore-incorporated tanker company that was created and is majority-owned by Trafigura, one of the world’s largest commodity trading and shipping groups. The firm was established to own, operate and scale a modern fleet of Very Large Crude Carriers (VLCCs). Trafigura’s global shipping business commercially manages the fleet.
Fleet and Operational Profile
At the time of listing Volare operates six VLCCs and has eight new-build vessels on order, scheduled for delivery progressively through 2028. The existing fleet has an average age of about three years, placing it among the youngest and most technically advanced groups in the listed VLCC sector.
Financial Raise and Use of Proceeds
The listing followed a private placement that raised gross proceeds of approximately USD 500 million, equivalent to NOK 4.73 billion. The raise was achieved by issuing 30.7 million new shares at a price of NOK 154 per share, and the offering was significantly oversubscribed, attracting institutional investors, family offices and other shipping-industry participants (Trafigura; Scandasia). Volare intends to use the funds to finance the eight new vessels, reduce debt linked to vessel leases, and support daily operations and other corporate costs.
Leadership Comments
Alexandre Duff, chief executive officer of Volare Shipping, described the debut as a “significant milestone,” noting that the diversified investor support reflects confidence in the company’s strategy and growth potential. Andrea Olivi, Trafigura’s global head of shipping and chair of Volare’s board, highlighted Oslo’s reputation as a leading capital market for shipping, saying the exchange provides an “excellent platform” for the company to scale alongside its shareholders. Both executives expressed optimism about building long-term value as Volare expands its fleet.