The Dubai-based Tristar Group confirmed it has ordered six 25,000-dwt IMO type 2 chemical tankers at Hyundai Mipo Dockyard (HMD) for delivery between 2020 and 2021.
The ships have been placed under a long-term charter contract from oil major Shell and it is understood the order involves Eships, the tanker arm of Tristar.
Eugene Mayne, founder and group chief executive of Tristar, said: “Our business model will continue to be built around the needs of customers and we are confident that if we continue to offer best-in-class services at competitive pricing there will be immense opportunity to leverage the brand equity that we have built over the years.”
The deal is understood to be part of Shell’s project Solar, which aims to secure 30 product and chemical tanker newbuildings at an estimated cost of $1.2bn.
The ships will be built with an improved hull form and to the latest IMO NOx emission Tier III standards, Tristar said.
TradeWinds first reported the order at the end of last year. No price had been disclosed for the deal.
It is the second such deal Tristar has struck with Shell.
In 2016, the company took delivery of six 50,000-dwt MR tankers from HMD, also under long-term employment to Shell.
TradeWinds recently reported that Japan’s Meiji Shipping has ordered six 50,000-dwt products tankers at HMD for charter to Shell under the same project.
