UAE-based oil and gas logistics services provider, Tristar Group, has signed contracts to build six new 25,000 dwt, IMO Type 2 oil products and chemical tankers with South Korean shipbuilder, Hyundai Mipo Dockyard. The vessels will be delivered between the middle of May 2020 through to January 2021.
The new tankers have been ordered on the back of long-term charter contracts with oil major Shell. This follows Tristar’s acquisition of six new build, 50,000 dwt, MR tankers from the same yard in 2016, also with long term charters with Shell.
The vessels will feature an improved hull form and will be designed to meet the latest environmental regulations. They will, for example, be fitted with Tier 3 type engines to reduce emissions.
Established in 1998, Tristar is a fully integrated liquid logistics company specialising in petroleum and chemical handling and distribution. Its shipping business has seen rapid growth over the last couple of years and with the latest additions the company’s fleet will grow to 23 ocean going vessels and eight coastal tankers over the next two years.