Trafigura-backed tanker owner Volare Shipping has agreed to acquire a VLCC newbuilding from an affiliate of its controlling shareholder for $210m, adding another supertanker to its expanding fleet just weeks after its Oslo market debut.
The Euronext Growth-listed company said it had struck a deal for the scrubber-fitted Veni Vidi Vici, which is currently undergoing sea trials at Hengli Heavy Industry in China.
The seller is an affiliate of Trafigura Maritime Logistics, Volare’s indirect majority shareholder. The transaction is expected to close this month, subject to financing and customary conditions.
The acquisition will take Volare’s operating fleet to seven modern VLCCs, with another eight newbuildings scheduled to join through 2028.
The Singapore-incorporated company was launched by Trafigura in September and subsequently raised $500m in an Oslo private placement. It entered the market with six trading VLCCs and eight newbuildings, with Trafigura retaining majority control and commercial management.
The latest purchase brings its projected fleet to 15 ships and extends an ordering and acquisition campaign that has made the commodity trader an increasingly prominent player in the crude tanker market.
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