Dnata Agencies and Instone International, the multinational marine travel specialist, celebrated the signing of an enhanced ‘Master Franchise’ agreement. The new agreement forms the basis for significant…
Dnata Agencies and Instone International, the multinational marine travel specialist, celebrated the signing of an enhanced ‘Master Franchise’ agreement. The new agreement forms the basis for significant expansion across the Middle East and GCC region from the current Dubai-based operation.
The marine and offshore market globally is worth $3 billion, and the industry is growing rapidly in Middle East – making Instone International and Dnata’s partnership a timely one. In its first year of joint operations Dnata`s marine travel arm – Dnata Instone Marine Travel Division – exceeded all budget and business expectations, reflecting the high demand for marine travel products and services in this market.
In celebration of the expanded partnership, VIP guests from the region`s marine and offshore industries were invited aboard the yacht, MY Sheleilah, to enjoy an evening of sailing around Dubai`s spectacular The World and The Palm Island developments.
During the cruise Iain Andrew, Senior Vice President, Dnata Agencies said: This event provides us with a good opportunity to thank our existing clients for the recognition they`ve given us to date, and to share with them our plans for an exciting future. The Middle East and the UAE in particular, is a major area of expansion in world shipping. Dnata is delighted that our partnership with Instone International, and our combined strengths, offer the opportunity to attract and serve an increasing portfolio of clients from across the region.
Instone International CEO, Edgar Ekeseth, offered a vision of how the company is progressing. He added, Dubai has over the years developed into the business centre for the Middle East where regional and international companies base their Middle East and GCC headquarters. Therefore Dubai and Dnata Agencies were our first choice of location and partner, when we were considering the establishment of a hub for our operations to serve the energy, marine and cruise markets. Having established a firm grounding here in Dubai, Instone International now plans to expand and open representation offices in several countries. We have already started with Saudi Arabia and Kuwait and we are certain that with Dnata Agencies we have found the right partner to grow with.
At present, Instone International is developing a tailor-made offshore product for this lucrative market: marine global value is at $1 billion and the offshore global is at $2 billion.
Dubai Ports World, one of the largest marine terminal operators in the world, has been at the forefront of the country`s extraordinary transformation into one of the world`s leading trade and commerce hubs, and helps lead the growing marine market in the UAE. In addition, the new Dubai Maritime City under construction also offers a focus for shipping companies, brokers, charterers, managers and insurers to expand in the region.
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