Photo: Image courtesy: Tristar Group

HMD delivers 1st of 6 Tier-III chemical tanker newbuilds to Tristar

South Korean shipbuilder Hyundai Mipo Dockyard has delivered Solar Sharna, the first of six chemical carriers to integrated energy logistics firm Tristar Group.

The dockyard is also on track to deliver the second ship from the series, the Solar Nesrin, on June 30.

The remaining four vessels are scheduled to be delivered from July 2020 to January 2021, Tristar said.

The six IMO2 25K chemical carriers were ordered back in 2018 on the backdrop of a long-term charter contract with oil major Shell worth $166 million.

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  • Business & Finance
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The contract builds upon previous cooperation which saw Hyundai deliver six 50K DWT MR tankers to Tristar in 2016 under a $200 million contract. The ships were fitted with fuel-saving equipment such as propeller boss cap fins, new profile technology propeller, and trim optimization system.

 “Having worked with the Hyundai Mipo Dockyard for several years, we have built a strong relationship with their experienced team who have always delivered high quality and technology-led design with first-class manufacturing,” Eugene Mayne, Group CEO of Tristar Groupsaid.

The previous vessels, which we purchased, have fully met our expectations as they were fitted with the latest technological innovation. The new vessels feature Tier III engines which will reduce emissions and operate in an eco-friendly way – very much in line with Tristar’s commitment to being a ‘Business for Purpose’.”

Tristar acquired shipping business Eships in 2016 and currently operates 25 chemical, oil and gas tankers globally mostly with oil majors. The company also has three dry bulk ships acquired in 2018.

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