Tristar signs $24mn LNG shipping service contract with BP

The follows its recent addition of its first LNG tanker, the Tristar Ruby, to its fleet

Tristar, Lng, BP, Tristar Ruby, Logistics, Transportation

Tristar Group, a global integrated energy logistics company, has signed a four-year contract with BP to provide liquefied natural gas (LNG) shipping services for a value of $24 million.

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 155,000 cubic metres. She will be technically managed by Wilhelmsen Ship Management and commercially operated by Tristar.

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.”

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