Trafigura Plans to Order Two More Supertankers as Global Ship Fleet Ages

(Bloomberg) – Trafigura Group is planning to order two more supertankers from a Chinese yard, as the trading giant looks to reduce its exposure to an unpredictable shipping market by building its own fleet.

“We think that at some stage in the next two, three, four years, there will be an unprecedented need to renew fleets, and that’s why we just want to be ready with our own fleet,” Andrea Olivi, the company’s global head of shipping, said in an interview this week in Singapore.

The tankers would be in addition to orders for eight Very Large Crude Carriers that Trafigura has placed since early 2024 with Jiangsu New Hantong Ship Heavy Industry Co. The earliest delivery of those vessels, which would be the first VLCCS the trading house has owned, is expected in mid-2026. They’ll replace some of the ships that Trafigura currently charters.

The orders come at a time when the global supertanker fleet is aging, and the number of ships engaged in the illicit transport of sanctioned oil is on the rise. Those so-called shadow tankers now account for nearly one-fifth of the global fleet, according to a recent S&P Global report. Buying such a vessel second-hand could expose a shipowner to operational restrictions, penalties and reputational damage.

The average VLCC is nearly 13 years old, according to data from BRS Shipbrokers. Some 36% of the fleet are over 15 years, and oil majors often refuse to take tankers above that age because of wear and tear.

There are also pitfalls in buying from a shipbuilder in China. The Trump administration has threatened multimillion dollar fees on Chinese-built or owned vessels discharging at US ports. The levies are expected to take effect from the middle of next month, amid ongoing trade negotiations between Washington and Beijing.

Olivi said the measures are unlikely to impact VLCCs. The supertankers are usually empty when they call at US ports, and are there to load American oil for shipping elsewhere.

© 2025 Bloomberg L.P.

Subscribe for Daily Maritime Insights

Sign up for gCaptain’s newsletter and never miss an update

— trusted by our 108,047 members