What Tristar Transport does

Tristar Group is a Dubai-headquartered integrated energy logistics provider serving the downstream oil and gas industry, founded in 1998 by Eugene Mayne and operating across more than 30 countries in the Middle East, Africa, Asia, the Pacific, the Americas, and Europe. The company's service portfolio spans five integrated verticals: Road Transport and Warehousing (petroleum, aviation fuel, cryogenics, gases, HAZMAT, lubricants, and chemicals across the GCC, Asia, and Africa); Maritime Logistics (owning and operating approximately 30 chemical, oil and gas tankers and bulk carriers globally through Tristar Eships and the Tristar-MTM Ship Management joint venture); Fuel Farms (storage facilities including a 4.2 million-barrel, 26-tank terminal on 237 acres in Guam, plus terminals in Louisiana, Haiti, and the UAE); Remote Fuels (turnkey fuel solutions and 25-year BOT airport fuel infrastructure such as Entebbe); and Commercial Fuels (Shell-branded retail stations across East Africa and Sri Lanka, plus the Africa Fuels & Lubricants retail network). The company serves major oil and chemicals customers including ADNOC, Shell, BP, TotalEnergies, ExxonMobil, Saudi Aramco, SABIC, Air Liquide, Linde, BASF, ENOC, Emarat, and ChampionX, alongside government clients such as the Defense Logistics Agency and Guam Power Authority.

The technology stack supporting these operations includes Oracle WMS with blockchain and enhanced RFID for warehouse management, military-grade encryption on transportation platforms, an In-Vehicle Monitoring System (IVMS) that processes structured telemetry on driver behavior, and a patented Driver Fatigue Management System using infrared cameras for real-time facial expression analysis. Tristar holds certifications across ISO 9001, 14001, 45001, 39001, and 50001, with warehouse buildings certified to LEED Gold, and is periodicallly assessed under Gulf SQAS. The company reported 2023 consolidated revenue of AED 4 billion (~USD 1.09 billion) with EBITDA of AED 812 million, a 31% revenue increase year-over-year, and H1 2024 revenue of AED 2 billion at 27% growth.

Tristar makes money primarily through B2B enterprise contracts with oil majors, national oil companies, chemicals producers, and government entities under multi-year terms, with pricing negotiated per contract and not publicly disclosed. Revenue streams include managed-services fees for road transport and warehousing, transaction-based income from maritime chartering and bunker sales, long-duration storage and throughput fees at fuel farms, transaction-based retail fuel and aviation refueling, and turnkey infrastructure concessions under BOT agreements. The 25-year Entebbe BOT with Uganda Civil Aviation Authority and the 20-year Shell brand license in Sri Lanka illustrate the strategy of converting operational relationships into long-duration, asset-backed cash flows. Distribution is direct enterprise field sales with dedicated account management for oil major customers, supplemented by brand-licensed retail channels and aviation refueling concessions.

Name

Tristar Transport

Legal name

Tristar Group

Website

https://tristar-group.co

Company type

Private

Founded year

1998

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Tristar Group is a Dubai-headquartered integrated energy logistics provider serving global oil and chemicals majors through road transport, maritime shipping, fuel storage, aviation refueling, and cryogenic gas distribution across 30+ countries.

Ownership category

akta.pro rank

Product category

Energy Logistics Services

NAICS

Petroleum Bulk Stations and Terminals (424710), Fuel Dealers (45721)

SIC

Wholesale-Petroleum Bulk Stations & Terminals (5171), Water Transportation (4400), Arrangement Of Transportation Of Freight & Cargo (4731)

akta.pro primary industry

Specialized Equipment Transport (Flatbed, Step-Deck, Lowboy, Car Carrier) (TLAIAMAH)

akta.pro secondary industries

Chemicals & Hazmat Transload (Regulated Goods) (TLALAFAH), Commercial & Fleet Fueling (Cardlock, On-Site Tanks, Bulk Delivery) (EUALAIAD)

Keywords

• Energy logistics services
• Petroleum road transport
• Maritime chemical tankers
• Fuel storage terminals
• Aviation refueling services

Headquarters

HQ city

Dubai

HQ country

United Arab Emirates

HQ region

Middle East

Offices14 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Supply Chain, Technology or R&D, Marketing or Sales

Revenue model

1. Road Transport and Warehousing: Integrated road logistics services for petroleum products, chemicals, cryogenics, and gases across GCC, Asia and Africa. Revenue from haulage contracts, warehousing storage fees, and value-added services.
2. Maritime Logistics: Ownership and operation of chemical, oil and gas tankers and bulk carriers. Revenue from ship-owning, tanker/dry bulk chartering, marine supplies, bunker supplies, and port agency services.
3. Fuel Farms: Ownership and operation of fuel storage facilities. Revenue from storage fees, berthing/discharge services, fuel inventory management, and truck/barge loading operations.
4. Remote Fuels and Commercial Fuels: Turnkey fuel solutions, retail fuel station operations, aviation refueling services. Revenue from retail fuel sales, long-term airport concessions, and distribution in Africa.
5. Retail Fuel Stations: Operation of Shell-branded fuel stations in Sri Lanka and Africa through RM Parks partnership. Revenue from fuel retail sales and convenience retail.

Pricing tiers

Go-to-market motion1 record

Distribution channels5 records

Marketing channels7 records

Core offering

Tristar is a fully integrated energy logistics company serving the downstream oil and gas industry through five core service lines: Road Transport and Warehousing (RTW) for petroleum, chemical, cryogenic, and gas products; Maritime Logistics operating approximately 30 chemical, oil, and gas tankers and bulk carriers globally; Fuel Farms providing bulk storage and terminal operations across multiple geographies; Remote Fuels for turnkey deployment of aviation and ground fuel facilities in remote locations; and Commercial Fuels covering retail fuel stations and into-plane refueling. The company supports customers across more than 30 countries through direct enterprise contracts with major oil majors and government entities.

Product overview

Tristar is a fully integrated energy logistics company serving the downstream oil and gas industry with multiple interconnected service lines. The core portfolio includes Road Transport and Warehousing (RTW) for surface transport of petroleum and cryogenic products; Maritime Logistics operating approximately 30 tankers and bulk carriers globally; Fuel Farms with storage facilities in Guam, Haiti, USA, Africa and UAE; Remote Fuels for rapid deployment of aviation and ground fuel facilities; and Commercial Fuels including the Africa Fuels & Lubricants (AFAL) retail network. The specialized Cryogenics Division handles transportation and storage of cryogenic products. A notable recent innovation is the Tristar Eco Voyager hybrid bunkering barge - the first of its kind in the UAE. Operations are supported by technology including Oracle WMS, Blockchain, RFID tracking, and advanced monitoring systems for driver safety and fleet management.

Differentiator

Problem solved

Functional benefit

Products and services

• Road Transport and Warehousing (RTW)

Quantifiable outcome

• Zero road fatalities over 150+ million km distance covered
• +6 more outcomes

Named customers18 records

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability5 records

Feature4 records

Partnerships

15 partnerships are on record, tiered flagship, core and minor.

• TotalEnergies Marketing Middle EastflagshipStrategic or Co-development Partner · 5 December 2025Time-charter agreement for Tristar Eco Voyager hybrid bunkering barge at Port of Fujairah. TotalEnergies' Lubmarine division uses vessel for ship-to-ship bunkering operations. Partnership supports sustainability initiatives and decarbonization goals.
• Uganda Civil Aviation Authority (UCAA)coreStrategic or Co-development Partner · 18 December 202425-year Built-Operate-Transfer (BOT) agreement for aviation fuel storage facility and hydrant pipeline system at Entebbe International Airport. Tristar constructed 12 million liter storage tank farm and underground fuel pipeline.
• Shell Brands International AGflagshipChannel Partner/ Reseller/ Distributor · 22 March 2024Shell brand licensing agreement for 150+ retail fuel stations in Sri Lanka through RM Parks (Private) Limited partnership. First Shell-branded stations expected to open Q3 2024 for 20-year initial period. Shell provides brand, product supply, and mobility expertise while Tristar/RM Parks operate stations.
• RM Parks Inc.flagshipStrategic or Co-development Partner · 22 March 2024Joint venture partnership with Tristar Group and RM Parks Inc. to operate Shell-branded fuel stations in Sri Lanka. RM Parks brings US fuel retailing experience through Shell brand license.
• MTM Ship ManagementcoreStrategic or Co-development Partner · 29 May 2023Joint venture Tristar-MTM Ship Management Pte Ltd established to maximize value retention for ship owners across GCC, Africa and worldwide. Headquartered in Singapore with offices in Athens, Dubai and Mumbai.
• TotalEnergiescoreStrategic or Co-development PartnerSolar power project partnership at specialized warehouse facility in Jebel Ali Free Zone (JAFZA). 464 kWp capacity plant with 1,190 photovoltaic panels generating 750 MWh annually.
• Linde Global HeliumcoreChannel Partner/ Reseller/ DistributorLong-term partnership for transport of helium and gas products across GCC. Tristar provides specially designed vehicles with advanced safety features and professional drivers.
• Air LiquidecoreChannel Partner/ Reseller/ DistributorPartnership for transport of cryogenic gases and industrial chemicals across GCC.
• SABICcoreChannel Partner/ Reseller/ DistributorTransport of liquid chemicals including MTBE, caustic soda, styrene from SABIC plants in Jubail and Yanbu to affiliates across GCC and Jordan.
• ChampionXcoreChannel Partner/ Reseller/ DistributorFleet and dangerous goods warehouse operations in Saudi Arabia for ChampionX oil and gas production chemistries. Includes 10,000 pallet storage capacity.
• GlencorecoreStrategic or Co-development PartnerPartnership through Aquarius Energy (formerly HG Storage International) acquired in August 2022. 51% ownership stake in HG Storage International.
• Roads and Transport Authority (RTA)coreGTM or Marketing PartnerJoint road safety awareness campaign 'Golden Rules for Generational Safety' with RTA Traffic Awareness Section. Includes Kids Traffic Arena program in schools.
• UN Global CompactcoreStrategic or Co-development PartnerSignatory since 2011 with compliance to Principles of Human Rights, Anti-Corruption, Labor and Environment. Founder Eugene Mayne serves as elected Board Member of UN Global Compact UAE Local Network.
• World Green Economy Organization (WGEO)coreGTM or Marketing PartnerPartnership for COP28 participation and sustainability initiatives. WGEO collaboration for climate action and environmental protection.
• Sailors' SocietyminorGTM or Marketing PartnerWellness at Sea program providing mental health helplines and support for seafarers. Confidential helpline with telephone and instant chat facilities.

Scale indicators21 records

Recent moves8 records

Expansion highlights6 records

Direct peers

• ADNOC Logistics & Services: UAE-headquartered integrated energy logistics provider offering maritime, port, and supply chain services. Most directly comparable peer given overlapping UAE base, oil-major parent, and integrated downstream logistics portfolio across shipping, storage, and road transport.
• Vopak: Global independent tank storage operator with terminals handling oil, chemicals, and gas products. Directly comparable fuel-farm business, with similar long-term storage contracts and global terminal footprint overlapping with Tristar's storage assets in Guam, Louisiana, and Africa.
• Oiltanking: World-leading independent tank storage provider for petroleum, chemicals, and gases, owned by MOL Group. Directly comparable bulk terminal business serving similar oil-major customers, with global terminal footprint paralleling Tristar's fuel farm operations.
• Stolt-Nielsen: Integrated chemical tankers and bulk liquid terminals operator with global footprint. Closely comparable to Tristar's maritime logistics and cryogenics/chemical distribution businesses, serving similar industrial gas and chemical customers.
• Odfjell: Global operator of chemical tankers and tank terminals for bulk liquid chemicals, edible oils, and acids. Comparable to Tristar's chemical storage and maritime chemicals businesses, with similar customers (BASF, SABIC) and hazardous cargo focus.

Regional players

• Bahri: Saudi Arabia's national shipping carrier operating VLCCs, chemical tankers, and bulk carriers, plus integrated logistics. Comparable maritime logistics overlap, but primarily Saudi/regional with different ownership structure.
• GAC (Gulf Agency Company): UAE-headquartered global integrated logistics provider offering freight forwarding, ship agency, and contract logistics. Comparable UAE-based integrated logistics platform with energy industry exposure, though broader in scope than Tristar's energy focus.
• Gulf Marine Services: UAE-listed provider of self-elevating support vessels and offshore marine services to the oil & gas sector. Comparable UAE-based energy maritime operator serving oil majors, though focused on offshore support rather than downstream distribution.

Broad incumbents

• ENOC (Emirates National Oil Company): UAE-headquartered integrated energy company with downstream operations across retail fuel stations, terminals, and trading. Comparable UAE fuel retail and bulk storage presence; serves as both a customer and adjacent competitor to Tristar.
• Agility Global: Kuwait-headquartered global logistics provider with MENA region strength across freight forwarding, contract logistics, and warehousing. Overlapping UAE/MENA presence and B2B enterprise customer base, though broader in scope than Tristar's energy specialization.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/tristardubai

Compliance9 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles11 records

Subsidiaries5 records

Funding overview

Funding rounds3 records

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Tristar Transport