Tristar Group’s sustainability goals under the Environmental, Social and Governance (ESG) pillars are aligned with the UN Global Compact (UNGC) Ten Principles and UN Sustainable Development Goals (UN SDGs). As a logistics business, the company focuses its sustainability goals in the areas of carbon footprint management, renewable energy adoption, water use management and giving back to the communities where it operates.
In its recent 2022 Leadership Summit conducted in June in Dubai with the theme ‘Transition Towards Energy,’ Group CEO Eugene Mayne said that corporates of the future will be companies that also have a high degree of corporate social responsibility.
The Tristar Maritime Logistics division is leading the way in carbon footprint management. Global Shipping accounts for 2.8 per cent of all carbon emissions. New regulations will come into effect on January 1, 2023, with the aim to reduce overall emissions through to 2050. “With Tristar’s historic sustainability outlook — before it became fashionable — its new build vessels in 2016 and again in 2020/2021 already meet the new regulations without having to make any modifications,” explained Chris Peters, Tristar Maritime Logistics CEO.
Looking forward, there are new regulations coming to the world in general in relation to decarbonisation with various versions of Net Zero coming for 2050 and other targets by 2030.
Peters said that for existing vessels it is not presently technically or financially viable to change the fuel used by that vessel to a lower or zero carbon alternative.
“This may change and then Tristar Maritime Logistics will endeavor to introduce these changes to our fleet. However, there are many smaller things that can be completed to reduce the consumption and therefore, carbon footprint based on consumption of conventional fuel. As and when vessels are due for their five-year drydocks, modifications have been made to engines and upgraded paint schemes have been applied to the hulls reducing friction in the water and therefore consumption,” he added.
Tristar also has a programme to periodically polish the vessel propeller, examine the hull condition and clean, if required, to ensure that fuel is saved by reducing the drag caused by fouling. “We are also evaluating existing technologies such as wind assisted power, air lubrication of the hull, to reduce the fuel consumed.”
From a longer term perspective, Peters added that an ongoing evaluation of the fleet is being established to see how Tristar can not only meet the regulations, but also strive to continuously stay ahead of them. Various concepts have been reviewed for alternative fuels, including battery-powered vessels for the coastal fleet and dual fueled ocean going vessels.
Aside from its Maritime Logistics business, Tristar is offering road transportation, specialised warehousing, fuel and chemical terminal management, lubricants distribution, commercial aviation refuelling, and fuel supply operations. The company, founded in 1998, is now a globally well-respected end-to-end fuel logistics solutions provider to blue-chip clients, including international and national oil companies, and intergovernmental organisations.