Volare Shipping, the Trafigura Group company established to own, operate and scale a modern fleet of oil tankers,  commenced trading on Euronext Growth Oslo under the ticker “VLCC”.

The listing follows a successful private placement in which Volare Shipping raised gross proceeds of approximately USD 500 million, through the issuance of 30.7 million new shares at a price of NOK 154 per share. The private placement was significantly oversubscribed and attracted a diversified investor base, including institutional investors, family offices and shipping industry participants.

The Company’s fleet, comprising six Very Large Crude Carriers (“VLCCs”) on the water and eight newbuild vessels on order, is commercially managed by Trafigura’s global shipping business.

To mark the occasion, Volare Shipping’s management team today rang the opening bell at Euronext Growth Oslo.

Alexandre Duff, Chief Executive Officer of Volare Shipping, commented: “Today is a significant milestone for Volare, as we begin our journey as a listed company on Euronext Growth Oslo. We are proud of the strong support shown by a diversified base of investors through our IPO, reflecting confidence in Volare’s strategy and growth potential. Oslo is one of the world’s leading capital markets for shipping, offering deep sector expertise and an efficient listing environment for companies like ours. We are grateful to welcome our new shareholders and look forward to building long-term value together as we execute on our strategy.”

 Andrea Olivi, Global Head of Shipping at Trafigura and Chair of the Board of Directors of Volare Shipping, commented: “Today’s listing is an important step for Volare Shipping, building on the strong investor demand we saw through the private placement. Oslo’s deep sector expertise and efficient listing environment give Volare Shipping an excellent platform to grow alongside our shareholders, and we look forward to scaling this business over the years ahead.”