Tristar Orders Six Tankers at Hyundai Mipo

The Dubai-based Tristar Group announced that it has signed firm contracts for six new build 25,000 MT DWT, IMO Type 2 Oil and Chemical Tankers with South Korea shipbuilder, Hyundai Mipo Dockyard.

The vessels will be delivered between the middle of May 2020 till the first week of January 2021, said a press release from the fully integrated liquid logistics solutions provider.

The vessels have been ordered on the back of long-term charter contracts with oil major Shell.

“Our business model will continue to be built around the needs of customers and we are confident that if we continue to offer best in class services at competitive pricing there will be immense opportunity to leverage the brand equity that we have built over the years,” said Eugene Mayne, the founder and the Group CEO of the Tristar Group.

The vessels will be built to the latest specifications with an improved hull form design. They will meet all the latest regulations and are fitted with Tier 3 Engines to reduce emissions to comply with Tier 3 NOX requirements. The ships are expected to be on the water starting from May 2020.

Tristar has an operating presence in 20 countries and territories in the Middle East, Africa, Asia, the Pacific and the Americas, with a workforce of about 2,000 people.