Volare Shipping, the newly established tanker company backed by commodities trader Trafigura, is preparing to expand its fleet amid what its chairman describes as a continued strong outlook for crude oil transportation, according to ShippingWatch.
The company, which already operates six Very Large Crude Carriers (VLCCs), is now working to raise approximately half a billion dollars in financing. According to ShippingWatch, this capital would be used to fund the acquisition of eight additional VLCC supertankers, significantly expanding the company’s presence in the crude oil shipping segment.
Rapid Fleet Growth
ShippingWatch reports that Volare Shipping has moved quickly since its formation, already putting six large VLCCs into service. The planned expansion to fourteen vessels would represent a substantial scaling up of the company’s operations within a short timeframe.
The report does not detail the specific timeline for the fundraising or fleet expansion, nor does it specify the source of the anticipated financing beyond noting the target figure of half a billion dollars.
Does This Matter to You?
The expansion of VLCC tonnage under Volare Shipping is relevant to those monitoring crude oil freight capacity and tanker market dynamics. A significant increase in VLCC availability from a Trafigura-linked entity could influence freight rate discussions and vessel availability in the crude transport segment, which in turn affects fuel demand patterns tied to these vessels’ operations.
For those tracking bunker demand trends, an expanding VLCC fleet under a major trading house’s tanker arm may be worth watching, as fleet growth in this segment can have downstream effects on marine fuel consumption patterns. However, ShippingWatch’s report does not provide specific data on expected fuel consumption impacts or operational routes for the additional vessels, so the precise implications for bunker markets remain unclear from the available information.
Gulf Bunkering does not provide operational or security guidance. This article is for informational purposes only. Operators should consult flag state authorities, P&I clubs, and relevant advisories for decisions relating to transit planning.
Sources: ShippingWatch
