The investment arm of the government of Dubai said today that it will split Inchape Shipping Services Holding Ltd. – a shipping company acquired by government-owned investment house Istithmar PJSC in 2006 – into two separate branches: marine services and supply chain logistics.
CEO of the Investment Corporation of Dubai, Mohammed Ibrahim Al Shaibani, said the move comes at a time in which the government entity perceives a “particular value” in the supply chain logistics industry.
ISS Global Forwarding, which will be headquartered in the Dubai Airport Free Zone, in proximity to Dubai Airport (DXB), will focus on global freight forwarding, contract logistics and projects in the oil-and-gas industry.
ISS will also offer services in 18 countries in the Middle East, Africa, Europe, India and Turkey, and said it planned to expand further into the Asia-Pacific region, mainland China and Singapore in the future.
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