Cyprus-based Interorient Navigation Co. Ltd and Danship and Partners Ltd have announced a record ₹10,000 crore investment (equivalent to €989.96 million at today’s exchange rate) in India’s shipping sector, marking the largest-ever foreign direct investment since the industry was opened to full foreign participation in 2005.

Both companies are headquartered in Limassol. Interorient is led by Cypriot shipping executive Themis Papadopoulas, while Danship and Partners is headed by Indian maritime professional Captain Danniel Gautam Chopra.  

“This mega investment symbolises the deep and wide diplomatic relations, bilateral, between India and Cyprus and will bring the two countries even more closer to each other,” the official announcement stated. 

The development follows Indian Prime Minister Narendra Modi’s state visit to Cyprus on June 15, the first by an Indian Prime Minister in over two decades.  

During formal discussions with Cyprus President Nikos Christodoulides, a wide range of issues was discussed, with both leaders underscoring the importance of enhancing co-operation in the maritime domain. 

India and Cyprus are already connected through the Indo-Cyprus Maritime Co-operation Framework Agreement, which provides a structured platform for joint initiatives.  

As mentioned in the Maritime Gateway online newspaper, the €989.96 million investment is seen as a major milestone in advancing bilateral maritime engagement and is expected to deepen Cyprus’ role in global shipping finance. 

This historic investment proposal closely aligns with the roadmap of the Hon’ble Prime Minister of India’s vision of ‘Atmanirbhar Bharat’, contributing to broader maritime infrastructure development under initiatives such as ‘Maritime India Vision – 2030’ and ‘SagarMala’.  

It is also considered a modest contribution towards fulfilling the blueprint of the Hon’ble Prime Minister’s ‘Amrit Kaal Vision 2047’ as well as ‘Viksit Bharat’. 

This imminent FDI in India will contribute, among other things, to the broader national interest.  All ships financed under this investment will be registered under the Indian flag, adding saliently to the country’s national shipping tonnage.  

It will provide large-scale employment for Indian cadets, trainees and seafarers. In addition, the freight earned for the carriage of Indian EXIM (export-import) trade will remain within the Indian economy.  

This is also expected to enhance India’s overall economic security, making a value-added contribution to its journey towards becoming the third-largest economy in the world over the coming years. 

Danship and Partners is a Cyprus maritime services firm specialising in shipbroking, commercial management, and consultancy for the global shipping sector.  

With deep roots in Scandinavia’s shipping heritage, the company offers tailored solutions across tanker, dry cargo, and offshore segments. Danship is recognised for its hands-on approach, market insight, and close working relationships with both shipowners and cargo clients.  

Moreover, its team of experienced professionals combines traditional shipbroking values with modern analytics to provide strategic guidance and transaction support in a rapidly evolving maritime landscape. 

Meanwhile, Interorient Navigation is a well-established shipping company headquartered in Cyprus, with a strong presence in international maritime transport. The company operates a modern fleet of tankers and dry bulk vessels, focusing on high safety standards, operational efficiency, and environmental sustainability.  

In addition, Interorient is known for its robust in-house technical and crew management services and has built a reputation for reliability and long-term relationships with major charterers around the world. With decades of experience, the firm continues to invest in digital transformation and green technologies, aligning closely with global decarbonisation goals in the shipping industry.