Vil ta tankrederi på børs i shippingfest

Trafigura, one of the world's largest commodity traders, announced on Monday its intention to list the newly established company Volare Shipping on the stock exchange. The company comprises 14 large tankers of the VLCC type, which stands for Very Large Crude Carriers. These tankers transport crude oil. At the same time, plans are being made to raise around $500 million through a rights issue, equivalent to approximately 4.7 billion kroner.

The subscription price is set at 154 kroner, which would increase the company's value by around 6.1 billion kroner before the capital infusion. The listing on the Euronext Growth market takes place simultaneously as the tankers' freight rates have plummeted and shipping stocks are at record highs. This is largely due to the Middle East conflict and the virtually closed Hormuz Strait.

Six of Volare Shipping's VLCC tankers are currently at sea, while the rest will be delivered from May 2027 to October 2028, according to the information. The fleet will have an average age of around three years when all the ships are delivered. The company will prioritize exposure to the spot market, according to the disclosure.

Andrea Olivi, the CEO of Volare Shipping and the head of shipping at Trafigura, commented on the news: "Trafigura's growing presence in the VLCC segment has revealed a clear opportunity to further invest in modern fleet together with external investors. The long-term fundamental conditions in the crude oil transportation remain supportive, and a dedicated, stock-exchanged company provides Volare Shipping investors with direct exposure to the sector."

The subscription period for the rights issue begins today, September 21, and is expected to be finalized around September 23 at 4:30 PM. The first trading day is expected to be around October 5. The ticker symbol for the company will be "VLCC."