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Gujarat: MV Ripley Pride becomes first ship leased from GIFT City

MV Ripley Pride was built in 2003 in Japan with a carrying capacity of approximately 76,858 DWT. The length overall (LOA) of the vessel is 225 meters and the width is 32.26 meters.

By: Express News Service
Ahmedabad | Updated: July 28, 2023 00:02 IST

MV Ripley Pride, a bulk carrier, has become the first ship to be leased from Gujarat International Finance Tec-City (GIFT City).

Ripley Shipping India IFSC Private Limited (RSIIPL), which received a certificate of registration from the International Financial Services Centres Authority (IFSCA) in March 2023 to operate from the International Financial Services Centre (IFSC) in GIFT City, recently imported and leased the first ship from its IFSC unit, stated an official release.

MV Ripley Pride was built in 2003 in Japan with a carrying capacity of approximately 76,858 DWT. The length overall (LOA) of the vessel is 225 meters and the width is 32.26 meters.

Tapan Ray, MD and Group CEO of GIFT City, said, “The successful leasing of the first ship from GIFT IFSC exemplifies a pivotal breakthrough for the ship leasing landscape in India. This event highlights the immense potential for growth and investment in the maritime sector from Indian shores, positioning GIFT City as a destination of choice for both domestic and international players seeking to capitalise on India’s ship leasing and financing opportunities.”

Shoumik Bose, Promoter and CEO of Ripley Group, said, “We are pleased to embark on this journey from GIFT IFSC with the first ship leased.” Ripley Group has a presence in various parts of the world, including India, UAE, and Singapore.

Each year, India is estimated to pay about USD 75 billion for sea-borne freight to foreign shipping companies, the release added.

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