Duration of deal is four years
Dubai-headquartered Tristar Group has announced that it has signed a four-year contract with BP to provide liquefied natural gas (LNG) shipping services for a value of US$ 24mn.
The deal with BP, one of Tristar’s long-standing partners, 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 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 155,000cbm.
She will be technically managed by Wilhelmsen Ship Management and commercially operated by Tristar.
“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,” remarked Eugene Mayne, Group CEO, Tristar Group.
