Emerging from a transportation company which started in 1998, Tristar has successfully become a well reputed fully integrated liquid logistics solutions provider that offers a comprehensive list of services fulfilling the needs of the downstream petroleum industry, regionally and globally
By Abdelghani AG
“Number One” is the UAE trend
Tristar is headquartered in the UAE and has a presence in over 17 countries across the GCC, Africa, Asia, the Pacific and Central America. Eugene Mayne, Tristar Group CEO clarified “The UAE is ranked number one regionally in all business sectors. This reflects effectively in all our activities and encourages us to be a global leader in liquid logistics solutions. Moving forward, we will continue to focus on ship owning as a core activity for our group and we are proud that we currently own a fleet of more than 22 vessels.”
The company's acquisition of Abu Dhabi-based Emirates Ship Investment Company (Eships) for USD 90 million in March 2016 was recognized as ‘Deal of the Year’ at the annual Seatrade regional shipping awards in October 2016.
Tristar recently commissioned a multi-logistics polymers facility in the Jebel Ali Free Zone Authority (JAFZA). This offers a much quicker market delivery with its direct access to Jebel Ali Port, Maktoum International Airport, and to the future Etihad Railway. The strategic location will give Tristar a decisive advantage when serving global customers for imports, exports, and re-exports.
Mr. Mayne added “In 2016 our turnkey fuel supply operations have seen more success with the award of a long term fuel contract in Central African Republic and the extension of our contracts in Liberia, Uganda, South Sudan and Haiti.”
Overcoming the current downturn
Tristar has successfully fought the current downturn in the maritime sector by having a business model that is flexible and responsive to the market dynamics. Stability is ensured by having long term contracts that protect the company from market fluctuations. In addition to this strategy, Tristar has successfully diversified its services to better avoid an economic slowdown. The company has developed a portfolio of services ranging from surface transport, specialized warehousing, ship owning and chartering, aviation fuel supply, fuel farm management, and turnkey fuel supply operations.
In 2017, Tristar has secured the Mali and Somalia operations for international peace keeping missions. The group will also soon operate the CABS (Calcium Alkyl Benzene Sulphonate) and Crop Protection Chemicals manufacturing plant inside Hamriyah Free Zone Authority to be followed by the formal openings of the Rusayl (Oman) and Industrial City of Abu Dhabi 2 (UAE) facilities.
“People Safety” comes first
Tristar has always considered people’s safety as its topmost priority. Mr. Mayne explained “It is our commitment to provide safe and reliable marine solutions to our clients. Our senior management conducts frequent vessel visits to address safety issues and interact with the crew for safety procedures. They also ensure that all sea-going staff is well-trained on handling all risks and emergencies. We ensure compliance with the Ship Inspection Report Program (SIRE) on all our vessels.”
Tristar manages its operations and processes through the utilization of a world-class management system. Mr. Mayne said “We continue to arrange our annual ‘Shipping Safety Day’ through interactive sessions held with the crew, ship, charterers, external managers, port authorities, and our management staff to address several safety aspects.”
The future of the shipping industry
Mr. Mayne believes there that there are two main factors that will influence the global shipping industry in the coming years. The first are the new regulations imposed by the European Union and the International Maritime Organization “IMO” to reduce the emissions from ocean going vessels by stipulating burning of cleaner fuels. The second is the Ballast Water Management “BWM” convention, which comes into force on 8th September 2017.
These two factors will help qualify the companies working in the shipping industry and those who invest in future technologies will have a competitive advantage. This will lead to improved quality of tonnage and reduction in operating costs for potential charterers. Mr. Mayne pointed out “Maritime signifies 50% of our main business activities that’s why it is important that we continue to focus on implementing the latest technologies that will enable us to operate a modern and environmentally friendly fleet.
Tristar’s employees are delivering an outstanding performance enabling the company to achieve a consistent growth rate over the years and to expand globally in a comparatively short span of time. Mayne concluded “We aim to commission new aviation projects in Africa that will further strengthen our aviation business in the continent. On the other side of the globe we will be looking to commission our new fuel storage facility in Haiti in Central America.”