Seven Islands Shipping opens Dubai unit to boost global market access

27 Nov 2024 CW Team

Warren Pinto, Chief Financial Officer of Seven Islands Shipping, revealed that the subsidiary was set up to enhance access to international markets. He explained that having a presence in Dubai would help the company engage more effectively with global charterers, particularly in North America and Europe, who often require vessels of a specific age to operate in their ports.

Founded in 2002 by Captain Thomas Pinto, Seven Islands Shipping is backed by Fairfax India Holdings Corporation, led by Indian-born Canadian businessman Prem Watsa. Captain Pinto, who now serves as Chairman of the Dubai unit—Seven Islands Shipping International FZE—stepped down as Chairman and Managing Director of the company in April. He continues to serve as a non-executive director on the board.

Explaining the strategy further, Warren Pinto stated that the two transferred vessels were part of a plan to segregate business operations and meet the preferences of global charterers. He added that the company intends to expand its Dubai fleet by acquiring additional vessels to deepen its presence in international markets.

Pinto emphasized Dubai’s advantages, noting its strong ecosystem and proximity to major players such as Abu Dhabi National Oil Company (ADNOC) and Emirates National Oil Company Group (ENOC), which simplify dealings with foreign charterers.

With the transfer of the two Indian-flagged tankers to the Dubai unit, Seven Islands Shipping now operates a fleet of 24 ships.

The move to open the Dubai subsidiary coincides with India’s efforts to attract fleet owners to the International Financial Services Centres Authority (IFSCA) at GIFT City in Gujarat. By offering tax incentives and exemptions, the government aims to boost Indian tonnage and strengthen its maritime sector.

Seven Islands Shipping, India’s second-largest private oil tanker shipping company, has established a wholly owned subsidiary in Dubai, a prominent shipping hub. To facilitate this, the company transferred two of its relatively young medium-range (MR) oil tankers from the Indian flag and registered them under the Marshall Islands flag. This move marked the start of its overseas operations. Warren Pinto, Chief Financial Officer of Seven Islands Shipping, revealed that the subsidiary was set up to enhance access to international markets. He explained that having a presence in Dubai would help the company engage more effectively with global charterers, particularly in North America and Europe, who often require vessels of a specific age to operate in their ports. Founded in 2002 by Captain Thomas Pinto, Seven Islands Shipping is backed by Fairfax India Holdings Corporation, led by Indian-born Canadian businessman Prem Watsa. Captain Pinto, who now serves as Chairman of the Dubai unit—Seven Islands Shipping International FZE—stepped down as Chairman and Managing Director of the company in April. He continues to serve as a non-executive director on the board. Explaining the strategy further, Warren Pinto stated that the two transferred vessels were part of a plan to segregate business operations and meet the preferences of global charterers. He added that the company intends to expand its Dubai fleet by acquiring additional vessels to deepen its presence in international markets. Pinto emphasized Dubai’s advantages, noting its strong ecosystem and proximity to major players such as Abu Dhabi National Oil Company (ADNOC) and Emirates National Oil Company Group (ENOC), which simplify dealings with foreign charterers. With the transfer of the two Indian-flagged tankers to the Dubai unit, Seven Islands Shipping now operates a fleet of 24 ships. The move to open the Dubai subsidiary coincides with India’s efforts to attract fleet owners to the International Financial Services Centres Authority (IFSCA) at GIFT City in Gujarat. By offering tax incentives and exemptions, the government aims to boost Indian tonnage and strengthen its maritime sector.

Infrastructure Transport

06 Feb 2026

Lucknow Metro East-West Corridor Consultancy Contract Awarded

The Uttar Pradesh Metro Rail Corporation has awarded the first construction-related consultancy contract for the Lucknow Metro East West Corridor to a joint venture of AYESA Ingenieria Arquitectura SAU and AYESA India Pvt Ltd. The firm was declared the lowest bidder for the Detailed Design Consultant contract for Lucknow Metro Line-2 under Phase 1B and the contract was recommended following the financial bid. The contract is valued at Rs 159.0 million (mn), covering design services for the corridor. Lucknow Metro Line-2 envisages the construction of an 11.165 kilometre corridor connecting Cha..

Infrastructure Urban

06 Feb 2026

Div Com Kashmir Urges Fast Tracking Of Jhelum Water Transport Project

The Divisional Commissioner of Kashmir has called for the fast-tracking of the Jhelum water transport project, urging district administrations and relevant agencies to accelerate planning and clearances. In a meeting convened at the divisional headquarters, the commissioner instructed officials from irrigation, public health engineering and municipal departments to prioritise the project and coordinate survey and design work. The directive emphasised removal of administrative bottlenecks and close monitoring to ensure timely mobilisation of resources and contractors. Officials were told to in..

Infrastructure Urban

06 Feb 2026

Interarch Reports Strong Q3 And Nine Month Results

Interarch Building Solutions Limited reported unaudited results for the third quarter and nine months ended 31 December 2025, recording strong revenue growth driven by execution and a robust order book. Net revenue for the third quarter rose by 43.7 per cent to Rs 5.225 billion (bn), compared with Rs 3.636 bn a year earlier, reflecting heightened demand in pre-engineered building projects. The company’s total order book as at 31 January 2026 stood at Rs 16.85 bn, supporting near-term visibility. EBITDA excluding other income for the quarter increased by 43.2 per cent to Rs 503 million (mn),..