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UAE-based Tristar Group led by group chief executive officer, Eugene Mayne has inked a four-year contract with London Stock Exchange-listed (LSE) BP to provide liquefied natural gas (LNG) shipping services at a total value of $24m (AED88.2m).
As part of the four-year deal, Tristar will provide a variety of LNG shipping services including trading and delivery.
Recently, Tristar added Tristar Ruby to its fleet as the first LNG tanker. Formerly, British Ruby, Tristar Ruby joined the company’s 30 ocean-going tankers fleet.
The vessel was built by Hyundai Heavy Industries in 2008 and has a cargo carriage capacity of 155,000 cubic metres. Tristar will commercially operate the tanker, which will be managed by Wilhelmsen Ship Management.
Commenting on the deal, Eugene Mayne said that through the deal with BP it is expanding its presence into the LNG shipping market.
Earlier this year, the company Dubai-based integrated energy logistics company acquired more than 11,000m2 of logistics land in Oman’s Port of Duqm. The acquired land includes a 3,048m2 covered warehouse with a capacity of 5,000 pallet position and an open yard for future expansion.
The company also announced a facility in the Rusayl Industrial Estate Phase 2 with a total plot size of 15,000m2, which comprises an office building; a warehouse with a capacity of 1,000 pallet position; a five-bay workshop with two inspection pits; and a washdown bay. |
