DP World is set to launch ship-leasing operations in India through a new subsidiary 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 Union Budget 2025 has extended tax incentives for ship leasing at GIFT City.
until 2030. Leasing activity at IFSC has doubled over the past six months, with private players joining the growing sector Dubai-based global port operator DP World is set to initiate ship-leasing operations in India by establishing a subsidiary within the International Financial Services Centre (IFSC) at Gujarat’s GIFT City.
The company plans to commence operations with four vessels, having secured approval from Indian authorities. These vessels could either be Indian-flagged or international ships, and DP World may opt to ALL TIME AS ships leased. Notably, ship leasing activities have doubled.
This strategic move aligns with recent budgetary reforms in India aimed at easing regulations on ship ownership, leasing, and flagging. The Union Budget 2025 at IFSC GIFT City in the past six months extended ship leasing tax incentives at GIFT City IFSC to 2030 and exempted capital gains and dividends on leasing units As of December 2024, 15 ship-leasing.
DP World joins other industry leaders such as Japan’s Mitsui OSK Lines and UAE-based Transworld Group, who have already commenced operations in the IFSC. The company’s new venture in India will encompass vessel ownership, operation, chartering, and other permitted activities. While DP World offers feeder services globally, it currently does not provide ship leasing services in India.
Globally, DP World owns, charters, and operates vessels, primarily through subsidiaries like Unifeeder, which run feeder and short-sea services across Europe, the Middle East, Asia, and Africa. Although the company charters ships for operational flexibility, it has not been a major independent ship leasing firm to date.
The establishment of DP World’s ship-leasing unit in GIFT City is expected to bolster India’s maritime industry, enhance the country’s ship-leasing capabilities, and contribute to the growth of the IFSC as a global hub for financial services.
DP World, the Dubai-based global port operator, is set to launch a ship leasing unit in India’s International Financial Services Centre (IFSC) at Gujarat’s GIFT City. This move marks DP World’s entry into ship leasing operations in India, in line with the government’s push to develop the IFSC as a global maritime and financial hub.
The company has received approval from Indian authorities to commence operations with an initial fleet of four vessels. These vessels could either be Indian-flagged or international ships, depending on DP World’s operational strategy. The company may choose to purchase and lease ships or sublease Indian-flagged vessels.
This strategic initiative aligns with India’s recent regulatory reforms aimed at promoting ship leasing, ownership, and flagging within Indian government, in its 2025 Union Budget, extended tax incentives for ship leasing entities operating within IFSC until 2030. Additionally, capital gains and dividend exemptions have been introduced to attract global players.
With DP World joining the league of established maritime giants such as Japan’s Mitsui OSK Lines and the UAE-based Transworld Group, GIFT City is rapidly positioning itself as a competitive global ship leasing hub. Since December 2024, the number of ship leasing companies in the IFSC has grown to 15, leasing over 13 vessels.
Globally, DP World operates, owns, and charters vessels through subsidiaries like Unifeeder, which provides feeder and short-sea services across Europe, the Middle East, and Asia. However, this marks its first independent foray into ship leasing in India.
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