Volare Shipping Ltd announces the acquisition of a modern, high-specification newbuild tanker.

The Company has entered into an agreement to acquire a modern, scrubber-fitted eco VLCC from an affiliate of Trafigura Maritime Logistics (“TML”), the Company’s indirect majority shareholder, for a purchase price of US$210 million.

The vessel, M.T. VENI VIDI VICI, is currently undergoing sea trials at Hengli shipyard in China and is scheduled for delivery on 20 November 2026. Prompt delivery of the vessel will generate a positive, immediate contribution to Volare’s earnings growth in a strong market environment.

The Company intends to fund the acquisition with existing cash and long-term lease financing.

Completion of the transaction is expected this month, subject to financing and customary closing conditions.

WILL COMPRISE SEVEN MODERN VLCCs
 On delivery of the vessel, Volare’s fleet will comprise seven modern VLCCs on the water, with eight further newbuilds delivering in 2027 and 2028.

Fearnley Securities, a part of Astrup Fearnley Group, is acting as financial advisor to Volare Shipping Ltd and has rendered a fairness opinion in connection with the transaction.

Alexandre Duff, Chief Executive Officer of Volare Shipping Ltd, commented:

“This acquisition is the next step in our disciplined growth strategy and demonstrates the value of having Trafigura as our sponsor and majority shareholder. We are adding a modern, scrubber-fitted eco VLCC at an attractive valuation, with prompt delivery that will enable an immediate contribution to earnings. Volare is building one of the youngest tanker fleets in the industry, with this transaction bringing us to seven modern vessels on the water and eight further newbuilds arriving in 2027 and 2028."

 About Volare Shipping Ltd.

• Volare Shipping Ltd. (Euronext Growth Oslo: VLCC) is an international shipping company, incorporated in Singapore.
• Volare Shipping currently operates six VLCCs and has eight newbuild VLCCs on order, delivering progressively through to 2028.
• At an average age of approximately three years on full delivery, Volare Shipping's fleet ranks among the youngest and most technically advanced in the listed VLCC sector.
• The fleet is commercially managed by Trafigura, led by an experienced management team with decades of experience across shipping, commodities and financial markets.
• his relationship provides Volare Shipping with an industry-leading chartering platform, significant commercial scale and cargo optionality.