Joint venture to provide value-focused services to ship owners
Tristar Eships and MTM Ship Management recently announced the formation of Tristar-MTM Ship Management Pte Ltd, established to maximize value retention for ship owners and investors across the GCC, Africa and worldwide.
Headquartered in Singapore with offices in Athens, Dubai and Mumbai, the Joint Venture will be managed by an independent team of ship management professionals overseen by senior members of the Tristar Eships and MTM Ship Management organizations.
Tristar-MTM Ship Management manages vessels from the Tristar Eships ﬂeet and will pursue third party tonnage in due course. MTM’s long experience with both chemical tankers and dry cargo vessels provides Tristar-MTM Ship Management with a full-service solution for owners seeking bespoke management for their vessels.
“Both Tristar and the MTM Group are ship owners first, so we are inherently sensitive to value and maximizing service to charterers. Meanwhile, we all have regulatory and technical challenges ahead,” stated Tim Coffin, CEO, Tristar Eships.
“We observed a gap in the market to respond to the bespoke needs of owners in our region. Partnering with a first-class ship manager with a similar focus on value delivers a solution to ship owners across our region and beyond,” he continued.
Tristar Eships is the Maritime Logistics division of the Dubai-based Tristar Group, a fully integrated energy logistics solutions provider which serves the downstream oil and gas industry globally.
“We share the same values of safety, transparency, and service excellence. With a combined experience of 70 years, Tristar-MTM will focus on all aspects of quality ship management by providing tailored services with a unique competitive edge,” commented Rajiv Singhal, Managing Director, MTM Ship Management.