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Fri 28 Feb 2020 12:52 AM

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Dubai shipping firm Tristar inks $24m deal with oil giant BP

Deal with BP follows the recent addition to the Dubai-based company's shipping fleet of its first LNG tanker

Dubai shipping firm Tristar inks $24m deal with oil giant BP

Dubai-based Tristar Group, the global energy logistics company, has signed a four-year contract with BP to provide liquefied natural gas (LNG) shipping services in a $24 million deal.

The deal with BP follows the recent addition to the Dubai-based company’s shipping fleet of its first LNG tanker, the Tristar Ruby.

The four-year deal will cover a variety of LNG shipping services comprising trading and delivery capacity worldwide, the company said.

The Tristar Ruby, formerly the British Ruby joins Tristar’s 30-strong fleet of ocean-going tankers. The vessel was built by Hyundai Heavy Industries in 2008 and has a cargo carriage capacity of 155,000 cubic metres.

Eugene Mayne, group CEO of Tristar, said: “We are pleased to be able to announce the value of our deal with BP, the first as we expand our presence into the LNG shipping market. This represents a strengthening of our relationship with BP, one of our core partners.”

Tristar offers end to end fuel logistics solutions to blue-chip clients including international and national oil companies and international NGOs.

It operates in more than 20 countries across three continents.

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