As the largest privately run energy logistics company in the Middle East, the Tristar Group sets the benchmark for the industry on several levels including the ability to register profits despite the pandemic.
Eugene Mayne, Founder and CEO, says: “In the six months ended June 30, 2021, we had a strong performance compared to the six months ended June 30, 2020. The Group’s consolidated revenue increased in the high single digit growth compared with a year ago, with growth across all our four segments of surface transport, maritime logistics, fuel storage and remote fuel logistics.”
Indeed, it is a high bar that Tristar has set, with cutting-edge technology implementation being key. Initiating the Driver Fatigue Management System as early as 2018, for instance helped ensure Tristar’s drivers stayed alert while on the road. The system, which prevents the driver from dozing at the wheel by vibrating the seat if his eyelids close for more than 1 second, contributed towards Tristar registering 0 fatalities in over 150 million kilometres, an enviable statistic.
The effects of technology are not restricted to roads alone. Away at its warehouses, Tristar installed Collision Sentry devices to help reduce or eliminate blind corner collisions between forklifts and pedestrians.
“Our target is Goal Zero – this means no fatalities, no damage to property and no harm to the environment,” says Mayne. “Safety in operations is a 24/7 business at Tristar and must start at the top, else it will not work. Technology is definitely a great support in implementation but it is the culture that is key in driving safety within organisations.”
Technology implementation is also part of Tristar’s overarching plan to prep for business in a post-Covid world. “There is no doubt that technological innovation came to the fore as a result of the pandemic. Covid-19-related themes from remote working to enhanced digital interaction have been rolled out and will continue to dominate our business performance,” explains Mayne.
All this emphasis on tech also hints at an ambitious growth trajectory.
“We have historically grown in double digits since inception and expect this trend to continue going forward,” adds Mayne. “Of course, M&A is also a key component of our growth plans and we have a healthy backlog of projects and M&A opportunities in the pipeline, which will sustain growth for the group for several years to come.”
“We are continually looking to expand our geographical footprint and are actively looking to explore opportunities in new markets,” further says Mayne. For instance, Tristar is launching Shell co-branded fuel retail stations in the city of Kochi in Kerala, India this year. “India is a huge country and a challenging market with great potential for expansion. Our plans are to build a logistics ecosystem around the retail fuel business in India,” adds Mayne.
Tristar currently operates in 21 countries and territories across the Middle East, Asia, Africa, the Pacific and Americas. It offers end to end fuel logistics solutions to blue-chip clients, including international and national oil companies, and intergovernmental organisations.
Read More:Going strong on safety and growth