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The UAE's Tristar Group has officially announced its acquisition of Emirates Ship Investment Company (ESHIPS) from Egon Oldendorff GmbH & Co KG for a notable $90 million. This transaction, which was initially discussed back in January, positions Tristar to enhance its maritime portfolio with ESHIPS' fleet comprising five chemical tankers and two small LPG carriers, all currently on long-term timecharter to an undisclosed major oil company. These vessels are primarily engaged in coastal trading activities. According to VesselsValue.com, their estimated collective market value stands at approximately $75.5 million. Eugene Mayne, Tristar’s group chief executive, expressed enthusiasm about the acquisition, stating, 'This acquisition is a perfect fit to our longer-term plans to diversify revenue and make shipowning an integral part of our strategy to build a fully integrated liquid logistics business.' This strategic move underscores Tristar's commitment to expanding its role in the global logistics market.