Tristar books six new tankers at Hyundai Mipo on Shell charter

Dubai-based Tristar Group has ordered six newbuild 25,000-dwt oil and chemical tanks at Hyundai Mipo Dockyard on the back of long term charters with oil major Shell.

The newbuildings are scheduled to be delivered between mid-May 2020 to early-January 2021. The ships will be IMO Type-II and built to the latest specifications with improved hull design, as well as Tier III engines to reduce emissions.

“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,” Eugene Mayne, founder and group ceo of Tristar, was reported saying.

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The oil and gas logistics firm had previously purchased six new 50,000-dwt MR tankers from Hyundai Mipo Dockyard back in 2016, also on long term charters with Shell.

The latest orders will bring Tristar’s shipping fleet to 23 ocean-going vessels and eight coastal tankers.

Posted 17 April 2019

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Lee Hong Liang

Asia Correspondent

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