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Trafigura launches Volare Shipping with six VLCCs, eight newbuilds on order

Volare Shipping has announced a contemplated Private Placement to raise approximately USD500 million, with a proposed listing on Euronext Growth Oslo under the ticker “VLCC”.

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Trafigura launches Volare Shipping with six VLCCs, eight newbuilds on order

Trafigura on Monday (21 September) announced it has established a new, dedicated group company, Volare Shipping Ltd, to own, operate and scale a modern fleet of oil tankers. 

Volare Shipping’s fleet, initially comprised of six Very Large Crude Carriers (VLCCs) on the water and eight newbuild vessels on order, will be commercially managed by Trafigura’s global shipping business.

In connection with the company’s launch, Volare Shipping has disclosed a contemplated Private Placement to raise approximately USD 500 million and a subsequent proposed listing of the company’s shares on Euronext Growth Oslo. Following the proposed listing, Trafigura will be the majority-owner of Volare Shipping.

Subject to, among other things, Euronext Oslo Børs’ approval of the company’s listing application, and a successful completion of the Private Placement, the company’s shares are expected to commence trading on Euronext Growth Oslo on or about 5 October 2026, under the ticker “VLCC”.

Trafigura currently manages approximately 500 vessels across multiple segments, including around 250 oil tankers.

Volare Shipping currently operates six VLCCs and has eight newbuild vessels on order, delivering progressively between 2026 and 2028.

Andrea Olivi, Global Head of Shipping at Trafigura and Chair of the Board of Directors of Volare Shipping, said: “Trafigura’s growing footprint in the VLCC segment has revealed a clear opportunity to invest further in modern tonnage, alongside outside investors. Long-term fundamentals in crude oil transportation remain supportive, and a dedicated, listed company gives Volare Shipping investors direct exposure to the sector. 

“Oslo is home to one of the world’s leading stock exchanges for shipping companies. Access to this market will provide Volare Shipping with a strong platform for growth, and we look forward to scaling this new platform alongside other shareholders.”

Alexandre Duff, Chief Executive Officer of Volare Shipping, said: “Volare Shipping combines one of the youngest and most technically-advanced VLCC fleets in the market with access to Trafigura’s global trading, chartering and analytics platform. 

“Once the remaining newbuild vessels are delivered, we will own 14 modern VLCCs. The contemplated private placement will fully fund our current newbuilding programme, while our proven operational expertise positions Volare Shipping to deliver attractive long-term value for all shareholders.”

The newbuild vessels are larger than standard tankers and can carry greater cargo volumes. They are also fitted with additional internal tank coating and heating systems, enabling them to transport a wider range of cargo types. All vessels comply with international environmental and regulatory standards and have ammonia-ready dual-fuel capability.

 

Photo credit: Trafigura
Published: 22 September, 2026

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Alternative Fuels

Singapore-based Golden Island, Qingdao Port team up on alternative bunker fuels

Agreement covers green methanol, green ammonia and bio-LNG, with cooperation spanning fuel production and transportation through to storage, sales and bunkering.

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Golden Island, Qingdao Port team up on green methanol, ammonia and bio-LNG

Singapore bunker supplier Golden Island Pte Ltd on Monday (21 September) said it has signed a strategic framework agreement with Qingdao Port International Co Ltd to collaborate on the supply of alternative marine fuels.

The agreement covers green methanol, green ammonia and bio-LNG, with cooperation spanning fuel production and transportation through to storage, sales and bunkering.

“By combining our MPA-licensed bunkering capabilities with Qingdao Port’s incredible logistics and strategic hub position, we are building something truly robust for the global shipping industry’s low-carbon future,” the company said in a statement. 

Qingdao Port International, which operates five major port areas in China, will bring its logistics network, storage facilities and customs clearance capabilities to the partnership.

Golden Island is licensed by the Maritime and Port Authority of Singapore (MPA) to conduct methanol bunkering and is ISCC EU-certified.

The companies are also engaging with container liners, bulk carriers, oil tankers and cruise ships regarding the adoption of alternative marine fuels.

 

Photo credit: Golden Island Pte Ltd
Published: 22 September, 2026

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Ammonia

HD HHI and HD KSOE secure ABS AiP for ammonia bunkering vessel design

ABS awarded approval in principle for the basic design of a 22,000 CBM bunkering vessel capable of supplying ammonia as marine fuel.

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HD HHI and HD KSOE secure ABS AiP for ammonia bunkering vessel

Classification society ABS on Monday (21 September) said it has awarded HD Hyundai Heavy Industries (HD HHI) and HD Korea Shipbuilding & Offshore Engineering (HD KSOE) approval in principle (AIP) for the basic design of a 22,000 CBM bunkering vessel capable of supplying ammonia as marine fuel.

The approval is the result of a joint development project initiated earlier this year. ABS reviewed the design’s general arrangement, machinery arrangement, ammonia cargo handling system and fuel supply system against applicable class and international requirements.

Gareth Burton, ABS Senior Vice President, Global Engineering, said: “Bunkering infrastructure is a critical step for any marine fuel to scale, and it has to be implemented with safety designed in from the start.

“This AIP reflects the industry’s need for fuel flexibility while advancing the safe bunkering of ammonia. ABS is proud to support HD HHI and HD KSOE as they develop technologies that expand fuel flexibility.”

Ryu Hong-Ryeul, Chief Technical Officer (CTO) of HD HHI, said: “As ammonia rapidly emerges as a viable low-carbon alternative fuel, demand for ammonia bunkering vessels is expected to grow in line with the increasing adoption of ammonia-fuelled ships. 

“This AIP marks a significant milestone toward the commercialisation of ammonia bunkering vessels.”

ABS and the HD Hyundai group have worked together across a range of technologies supporting ammonia as a marine fuel. Recent projects have included AIP for HD KSOE’s ammonia cargo handling and bunkering system and initial review for HD HHI’s machinery arrangement in engine room.

 

Photo credit: ABS
Published: 22 September, 2026

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Alternative Fuels

J-ENG completes land-based testing of hydrogen-fuelled marine engine

Engine will be installed on a 17,500 DWT multipurpose vessel to be built by Onomichi Dockyard for MOL and MOL Drybulk, with onboard demonstration testing scheduled to begin in April 2028.

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Japan Engine Corporation (J-ENG) on Friday (18 September) said it has completed land-based testing of the world’s first hydrogen-fuelled engine for large commercial vessels, the 6UEC35LSGH.

During factory testing, the engine achieved a hydrogen co-firing rate of at least 95%, reducing GHG emissions by more than 95% compared with conventional heavy-fuel-oil engines.

By adopting a high-pressure direct injection system, which injects fuel directly into the cylinder at high pressure, J-ENG said the engine achieves stable hydrogen combustion. 

Safety measures were also implemented, including a robust structure to prevent hydrogen leakage and double-walled piping for hydrogen supply lines. 

“Approval testing was conducted in the presence of ClassNK and was completed successfully,” the company said. 

The engine will be installed on a 17,500 DWT multipurpose vessel to be built by Onomichi Dockyard for Mitsui O.S.K. Lines and MOL Drybulk.

Hydrogen fuel will be supplied to the engine through a marine hydrogen fuel system, consisting of marine hydrogen fuel tanks and a fuel supply system, developed and manufactured by Kawasaki Heavy Industries.

In addition, Nippon Kaiji Kyokai (ClassNK) will conduct safety assessments throughout each stage of the engine’s development and the vessel’s design, construction and operation.

The vessel will then undergo sea trials before onboard demonstration testing begins in April 2028. 

Kawasaki will also develop and manufacture bunkering equipment for supplying liquefied hydrogen to vessels. 

“The demonstration will further evaluate the engine’s durability and performance under actual operating conditions,” J-ENG added.

 

Photo credit: J-ENG
Published: 22 September, 2026

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