DP World to Launch Ship Leasing Unit in GIFT City
PORTS & SHIPPING

DP World to Launch Ship Leasing Unit in GIFT City

DP World is set to commence ship-leasing operations in India through a new subsidiary established in Gujarat's GIFT City, an International Financial Services Centre (IFSC). The firm plans to begin with four vessels and has received approval from Indian authorities.

The ships may be either Indian-flagged or international. DP World could acquire vessels for leasing or sub-lease an Indian-flagged ship.

The move follows the footsteps of companies like Japan's Mitsui OSK Lines and the UAE-based Transworld Group, which have already launched similar services at IFSC. DP World's India unit will handle vessel ownership, operation, chartering, and other permitted maritime activities.

The Union Budget 2025 has extended tax incentives for ship leasing at GIFT City until 2030, including exemptions on capital gains and dividends. As of December 2024, 15 ship-leasing firms have been set up, with at least 13 ships leased. Leasing activity at IFSC has doubled over the past six months.

Private players such as Alphard Maritime, Reliance International Leasing IFSC, APSEZ, and Ripley Group have joined the growing sector. DP World, primarily known for Unifeeder operations globally, does not yet offer independent ship leasing services in India.

DP World is set to commence ship-leasing operations in India through a new subsidiary established in Gujarat's GIFT City, an International Financial Services Centre (IFSC). The firm plans to begin with four vessels and has received approval from Indian authorities. The ships may be either Indian-flagged or international. DP World could acquire vessels for leasing or sub-lease an Indian-flagged ship. The move follows the footsteps of companies like Japan's Mitsui OSK Lines and the UAE-based Transworld Group, which have already launched similar services at IFSC. DP World's India unit will handle vessel ownership, operation, chartering, and other permitted maritime activities. The Union Budget 2025 has extended tax incentives for ship leasing at GIFT City until 2030, including exemptions on capital gains and dividends. As of December 2024, 15 ship-leasing firms have been set up, with at least 13 ships leased. Leasing activity at IFSC has doubled over the past six months. Private players such as Alphard Maritime, Reliance International Leasing IFSC, APSEZ, and Ripley Group have joined the growing sector. DP World, primarily known for Unifeeder operations globally, does not yet offer independent ship leasing services in India.

Next Story
Resources

Ajmera Realty launches tree drive on Environment Day

Ajmera Realty & Infra India marked World Environment Day with a large-scale tree plantation initiative—Plant-with-Purpose—across its projects in Mumbai and Bangalore. The drive was inaugurated at Ajmera Manhattan and Ajmera Greenfinity in Wadala, with senior company officials and residents in attendance. The campaign encourages residents to embrace eco-conscious, self-reliant lifestyles by growing useful plants and trees within their communities. Horticulture expert Devendra Bhekar guided residents on creating and maintaining green spaces. Ajmera Realty planted over 500 trees..

Next Story
Resources

Twaron®-reinforced tyre powers Brunel’s solar race car

Teijin Aramid’s Twaron® with circular content will debut in Bridgestone’s race tyres for the 2025 Bridgestone World Solar Challenge, supporting the Brunel Solar Team’s Nuna 13 car. This marks the first use of the recycled-content aramid in a high-performance race tyre. The Twaron®-reinforced belts help enhance durability, reduce rolling resistance, and maintain lightweight strength—critical for the 3,000-km solar race across Australia. Bridgestone combines this with ENLITENTM tech and other recycled inputs to maximise environmental and performance outcomes. Teijin Aramid, a..

Next Story
Building Material

Kamdhenu Paints launches new wood coating range

Kamdhenu Paints has launched a comprehensive premium wood coating range designed for both interior and exterior applications. The collection includes high-performance solutions like Kamwood 2K PU for a rich matt or high-gloss finish, Kamwood 1K PU for clarity and stain protection, and the Kamwood Melamyne system for a smooth, durable finish. Also featured are Kamwood Wood Stains, which enhance wood grains with vibrant colour, and NC Sanding Sealer for high-build grain filling. The range is supported by Kamwood Thinners for ease of application and optimal finish. Saurabh Agarwal, MD, ..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?