Norstar and Tristar Set Up Venture to Charter and Operate Chemical Tankers

Photo credit: Norstar Group of Companies (image for illustration purposes only)

Singapore´s Norstar Group of Companies led-by Tom Bonehill and Tristar Group have established a joint venture called Norstar Chartering Services DMCC, headquartered in Dubai with regional offices in the USA and Singapore. The joint venture will commence full-fledged operations within the next few weeks.

The two parties came to an agreement to create a joint venture company in order to charter and commercially operate chemical and clean petroleum tankers.

The JV will be lead by Olav Ekeberg who will be the CEO of Norstar Chartering Services DMCC and its global offices. Mr. Ekeberg is a partner in Norstar Chartering and has over 25 years of experience as a senior charterer and operator of chemical and clean petroleum tankers.

The other partner is Mazen Al-Rahim, who is the current managing director of Norstar Group Middle East. He has over 30 years of experience in petrochemicals, manufacturing, risk management, project management and supply chain, and held various senior management positions within SABIC, and prior to joining Norstar he was the supply chain executive director.

The Norstar Group of Companies is an integrated shipping platform built over the last 25 years by Chris and Tom Bonehill, with a tanker chartering/operating arm specializing in chemicals, and clean petroleum business.

“This latest business decision will strengthen the group’s maritime logistics division, which owns and/or operates more than 30 chemical, oil, and gas tankers and bulk carriers trading globally, mostly with energy majors,” said Eugene Mayne, group chief executive of Tristar.

Norstar´s co-owner Chris Bonehill said “Tristar Group, as a leading global energy logistics service provider, is a great strategic partner for Norstar to grow its existing business and potentially expand into other energy transition midstream activities. Both our companies and our customers will benefit significantly from the JV.”

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