PHOTO
UAE – Tristar Group (“Tristar” or “the Company”), the global integrated energy logistics company, has taken delivery of its new vessel, Solar Sharna, and is expected to take delivery of the Solar Nesrin on June 30. These new assets, which will be on a long-term charter to Shell, underpin Tristar’s continued growth and momentum.
In 2018, Tristar signed a long-term contract to charter six IMO2 25K Chemical Carrier vessels to the oil major. The remaining four vessels will be delivered from July 2020 to January 2021.
The Solar Sharna and Solar Nesrin were built at the Hyundai Mipo Dockyard, South Korea’s premier shipbuilder. Tristar and Hyundai have worked together for many years, as the Company previously received six 50K DWT MR tankers from the dockyard in 2016 for US$200 million.
Eugene Mayne, Group CEO of Tristar Group, said “We are pleased to have taken delivery of our first vessel, Solar Sharna, and look forward to welcoming the Solar Nesrin shortly. Having worked with the Hyundai Mipo Dockyard for several years, we have built a strong relationship with their experienced team who have always delivered high quality and technology-led design with first class manufacturing.
The previous vessels, which we purchased, have fully met our expectations as they were fitted with the latest technological innovation. The new vessels feature Tier III engines which will reduce emissions and operate in an eco-friendly way – very much in line with Tristar’s commitment to being a ‘Business for Purpose’ Furthermore, the delivery of these vessels demonstrates the resilient nature of our business, especially when global supply chains are being adversely affected due to Covid-19. We look forward to taking delivery of the remaining vessels and to strengthening our long-term relationship with Shell.”
Tristar Group offers end to end fuel logistics solutions to blue-chip clients including international and national oil companies and international NGOs. Its integrated energy logistics platform spans road and maritime transportation, specialized warehousing, fuel farms, commercial aviation refueling and remote fuel supply operations.
-Ends-
About Tristar:
Tristar is a global business, headquartered in Dubai, which offers end to end fuel logistics solutions to blue-chip clients including international and national oil companies and international NGOs. Its integrated energy logistics platform spans road and maritime transportation, specialized warehousing, fuel farms, commercial aviation refuelling and fuel supply operations.
It operates in more than 20 countries across 3 continents and has over 20 years proven legacy of operational quality making it a partner of choice to its customers, with a track record of profitable growth. The company operates to the highest international health, safety, environmental and compliance standards and receives awards for its exemplary record of operational and safety excellence, as well as sustainability initiatives.
For further information:
Tristar
Arthur Los Banos
Corporate Communications Manager
+9714-8997900
arthur@tristar-group.co
www.tristar-group.co
FTI Consulting
Aashti Bawa
Aashti.bawa@fticonsulting.com
+971 4 437 2105
© Press Release 2020
Disclaimer: The contents of this press release was provided from an external third party provider. This website is not responsible for, and does not control, such external content. This content is provided on an “as is” and “as available” basis and has not been edited in any way. Neither this website nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this press release.
The press release is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Neither this website nor our affiliates shall be liable for any errors or inaccuracies in the content, or for any actions taken by you in reliance thereon. You expressly agree that your use of the information within this article is at your sole risk.
To the fullest extent permitted by applicable law, this website, its parent company, its subsidiaries, its affiliates and the respective shareholders, directors, officers, employees, agents, advertisers, content providers and licensors will not be liable (jointly or severally) to you for any direct, indirect, consequential, special, incidental, punitive or exemplary damages, including without limitation, lost profits, lost savings and lost revenues, whether in negligence, tort, contract or any other theory of liability, even if the parties have been advised of the possibility or could have foreseen any such damages.
