DP World is getting ready to launch ship-leasing operations in India by establishing a subsidiary in the International Financial Services Centre (IFSC) at Gujarat’s GIFT City. The company may start with four ships, with options for both Indian-flagged and international vessels. Approval from Indian authorities has already been secured, and potential plans include purchasing, leasing, and sub-leasing ships. Other companies like Mitsui OSK Lines and Transworld Group have also begun operations in the IFSC, making DP World the latest to join in vessel ownership, operation, chartering, and related activities in India.
The Union Budget of 2025 extended tax incentives for ship leasing at the GIFT City IFSC until 2030, which has led to increased activity in the sector. About 15 ship-leasing companies have been established by December 2024, with at least 13 ships having already been leased. Notable players like MOL, Transworld Group, and SCI have already set up units in the area. Additionally, private firms such as Alphard Maritime, Reliance International Leasing IFSC, APSEZ, Great Eastern Shipping, and Ripley Group have also made significant investments in the IFSC.
DP World, known for its global vessel ownership, chartering, and operation through subsidiaries like Unifeeder, will expand its services to include ship leasing in India. While the company currently focuses on feeder services worldwide, it will now enter the ship leasing market in the country. With the growing importance of the IFSC at GIFT City as a hub for ship leasing, DP World’s move will further diversify its offerings in the maritime industry.
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