DOMESTIC LEASING

Domestic leasing of containers is an activity involving leasing of containers for usage within the Indian Domestic Tariff Area (DTA) for short and long term use.

Customs bond on International containers

International containers come into India on a customs bond filed by the shipping line / party who brings in the containers and with a specific notation that these units are not meant for "domestic consumption" and with a proviso that they will be " re-exported out of the country within 180 days of the entry date ". (Customers are always advised to verify a container is 'domesticated' before the usage in the Indian market as it could otherwise lead to legal complications and even temporary seizure of the goods)

Domestication" of containers

The customs laws in India require containers to be used in the Indian domestic market to be "domesticated " - a process done with Indian customs of evaluation of the value of the container and payment of customs duty as per the tariff , after closure of the customs bond.

These containers can then be used for purposes like inter coastal movement of cargoes, road transport, storage use at factories, and movement on railway rakes.

Containers are extremely popular world over as temporary storage at factories, warehouses, construction sites and short use requirements within the country for its flexibility of use , quick mobilization of warehousing space , and complete security.

VS&B and the Indian domestic container leasing

VS&B with its keen understanding of the Indian market, a wide depot network and flexible lease arrangements has become a major player in this segment. A meticulous process of "domestication "of boxes ensures that customers enjoy trouble free usage of the containers.
Containers are in 20'/40'/ 40' HC sizes and can be leased from Delhi, Mumbai, Cochin, Tuticorin, Kolkata and Chennai, subject to availability.

Over the last decade, VS&B has become a dominant player in the local container leasing markets in Indian subcontinent, Middle East and South Africa.

The market in these areas is dominated by NVOCCs, forwarders and small ship operators whose requirements for leasing are distinct from the larger shipping lines. VS&B has excelled in finding solutions to this segment's shipping requirements through an innovative mix of leasing, trading and also shipping solutions.

NVOCC operators, forwarders and shippers take containers on lease from the leasing companies to meet the shortages of own equipment or to avail the flexibility offered by the leasing arrangements.

VS&B , with its

is able to tailor the leasing arrangements to meet the regional requirements of its customers- be it big or small .

Not surprisingly, VS&B has been the leasing company of first choice for many of the smaller shipping, NVOCC and forwarders in the Indian Subcontinent and Middle East through its network of well experienced, hands-on leasing group.