SeaLead, the Singapore-based container line, is looking to take advantage of growing trade ties between India and the Middle East with the introduction of a new liner service.
The seven-year-old company has teamed up with Blue Water Line for the weekly Gulf India Express service, which will initially deploy two ships, one from each company.
The inaugural voyage of the 1,560-teu Taichung (built 1999) is scheduled to depart Jebel Ali on 22 February followed by the 1,662-teu Abrao Cochin (built 2002) on 29 February.
The service will connect the key ports of Mundra, Nhava Sheva, Sohar, Jebel Ali, and Dammam, and return to Mundra, SeaLead said.
India and Saudi Arabia have ambitious plans to boost their bilateral trade to $100bn in the coming years from the current level of approximately $52bn.
“This service underscores the importance of enhancing trade relations not only with Saudi Arabia, India’s second-largest trading partner but also with the United Arab Emirates, highlighting the service’s pivotal role in bolstering the trade links and facilitating economic cooperation across these significant markets,” SeaLead said.
“As Saudi Arabia and UAE are key trading partners with India, this service aims to support the growing trade demands and foster stronger business relationships between these regions,” said SC Chan, the acting head of SeaLead.
Indian Prime Minister Narendra Modi recently completed a tour of the Middle East including trips to the UAE and Qatar.
India is looking to establish itself as a competitor to China on infrastructure and technology in the region, according to UK publication The Economist.
Founded in 2017, SeaLead is a relatively new entrant to the global container shipping market and boasts a chartered-in fleet of 22 vessels with a capacity of 1.15m teu.
Last week, the company announced a change of management which would see managing director Henry Schmidl stand down and be replaced by Chan.
The company said its ownership has now transitioned to a group of investors comprising Singapore’s Eurasia Capital, Mauritius-based fund HCP Investments, Access Capital Funds in the Cayman Islands and Saral Incorp VCC SubFund, also based in Mauritius.
