Trafigura emerges with fresh VLCC pair under construction in China

According to shipping data platforms, Trafigura has ordered two additional VLCCs from China’s Jiangsu New Hantong, slated for delivery in 2029 and 2030. With the new pair included, the company is now listed with 10 VLCCs on order at the yard, with deliveries beginning in 2026.

Shipbroking sources corroborate the platform data, though Trafigura declined to comment when contacted by Riviera.

The trader has also been linked in recent weeks to acquisitions of modern VLCCs on the secondhand market. Riviera reported earlier this summer that Trafigura appeared as ship and commercial manager of 2017-built Vesuvio, formerly Navigare Terra Mater.

A fleet facing renewal pressure

Trafigura global head of shipping Andrea Olivi recently told Bloomberg that the tanker sector will face an “unprecedented need” for fleet renewal in the coming years.

Fresh market data supports that view. Xclusiv Shipbrokers’ latest monthly report shows the VLCC orderbook-to-fleet ratio standing at 13% in dwt terms at the end of October, while 35% of the active fleet is at or above the 16-year age mark.

According to Allied Shipbroking, 45 VLCCs had been ordered up to mid-November this year, compared with 72 across the whole of 2024.

Several major owners have contributed to this recent wave of newbuilding activity, including Scorpio Tankers, COSCO, Laskaridis Maritime and TMS Tankers.