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Ship Owning and CharteringTristar Energy was formed as a result of the group’s long term growth strategy. The aim of Tristar energy is to support the existing customer base in respect of their requirements to move clean petroleum products by sea thus providing the industry with comprehensive end to end supply solutions for movement of petroleum wet stocks. Ship owning also helps to propel the activities of the group beyond the immediate region and to provide a global platform for expansion and growth.
The company currently operates a fleet of two ocean going MR tankers named the Tristar Dubai and the Tristar Kuwait. Both vessels are classified as double sided under Marpol regulations and have a hull rating of 2 under the voluntary condition assessment program provided by IACS. Both vessels were acquired by Tristar in 2004 and have identical cargo carrying capacity of 52580 cubic meter with 15 epoxy coated cargo carrying tanks. Tristar Energy trades these vessels globally using industry best practices and detailed market analysis to identify best yielding opportunities and markets. The company’s growth strategy is directed toward consolidation of the groups existing customer base and entrance to the spot market to capture better returns. More recently in 2009 the company built and commissioned 2 purpose built double hull lube tankers named Tristar Spirit and Tristar Courage with 650MT capacity each and which operate in the coastal waters off the east cost of the UAE supplying bulk marine lubricant deliveries to vessels at anchorage off Fujairah. Ship management services is outsourced from V ‘ships through a strategic partnership that provides total ship management services for all Tristar owned vessels. The partnership with V ‘Ships has resulted because of the group’s commitment to ensure Safe and secure Shipping. |
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