Japan’s Mitsui Osk Lines, Ltd. (MOL) has augmented its fleet with a very large gas carrier (VLGC), “Green Sachi,” previously registered in Liberia. This vessel has been reflagged under the Indian banner by MOL (India) PVT LTD, which now operates a total of 11 tankers and ranks as the fourth largest ship owner in India. MOL (India) focuses on various shipping services and is expanding its operations within the country, including its presence at Gift City, India’s first International Financial Services Center.
In a related development on April 28, CMA CGM SA of France, the world’s third-largest shipping line, also reflagged one of its container ships to India. This marks a significant step, as CMA CGM plans to register additional vessels under the Indian flag. The company’s Indian unit, CMA CGM Shipping Assets India IFSC PVT LTD, is based in Gift City and is set to enhance its presence in the region.
Moreover, BW LPG Ltd., a leading global owner and operator of LPG ships, has sold two modern VLGCs to its Indian unit for $150 million, increasing its fleet size. Both MOL and BW LPG India are benefiting from a government initiative that provides incentives for Indian-flagged vessels, which enhances the competitive edge of domestic shipping companies in international waters.
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