UAE-based chemical shipping & logistics firm Tristar has entered into an agreement to acquire Shell’s chemical terminal in Dubai’s Jebel Ali Free Zone as it looks to further consolidate its presence in the zone.
Following the acquisition, Tristar will undertake a capacity expansion and terminal modernisation program over five years which will see the capacity of the terminal expand to over 25,000 cu m from the current 5,505 cu m. Shell will remain a customer under the terms of a services agreement signed between the two companies.
“We are very proud of this acquisition which has strategic importance not only for us a company but also to our customers who can now have access to a truly turnkey and fully integrated distribution service with our ability to now handle bulk imports and offer storage and distribution of both bulk and packed chemical products. This facility will complement our existing Dangerous Goods (DG) facility in JAFZA South Zone which currently houses a wide range of packed chemicals and petroleum products,” said Eugene Mayne, CEO of Tristar.
Tristar currently owns and operates 24 chemical, oil and gas tankers.