Tristar Orders Six Small Tankers under Shell Contract

TankerIllustration; Source: Unsplash/Shaah Shahidh

UAE-based Tristar Group has placed an order for six new oil and chemical tankers at South Korean shipbuilder Hyundai Mipo Dockyard.

The company said that the 25,000 dwt carriers have been ordered on the back of long-term charter contracts with oil major Shell.

Under the deal, unveiled on April 16, 2019, the shipbuilder is scheduled to deliver the units starting from the middle of May 2020 until the first week of January 2021.

The parties did not unveil the financial terms of the shipbuilding contract.

The new vessels, which will have Tier III specifications, carry a value of USD 20.6 million, according to data provided by VesselsValue.

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