The President of Sierra Leone, Julius Maada Bio, officially launched the Sierra Leone Ocean Shipping Company (SLOSCo) at the Queen Elizabeth II Quay in Freetown. The launch marks a new development in Sierra Leone’s maritime sector as the country seeks to play a larger role in international trade.
“For far too long, we have relied on international carriers to export and import our products. Today, we’re taking a bold step forward, giving Sierra Leone a greater stake in transporting the goods we trade with the world,” President Julius Maada Bio said.
SLOSCo comes from a joint venture agreement between the Sierra Leone National Shipping Agency (SLNSA) and Zhejiang Xiehai Group Co. Ltd. of China. The partnership aims to expand Sierra Leone’s maritime connectivity and support the movement of goods through international trade routes.
SLOSCo plans to provide Sierra Leone with its own shipping capacity to support imports and exports, expand cargo operations and allow the country to retain more of the value generated from transporting goods to and from its territory.
The company plans to build a fleet of 50 vessels, with the first phase covering 30 vessels. The planned fleet will increase Sierra Leone’s capacity to handle maritime transport and connect its trade with international shipping networks.
The government says SLOSCo will also create opportunities for Sierra Leoneans by supporting job creation, developing maritime skills and attracting investment into the sector. The company is also expected to help local businesses benefit more from the country’s international trade.
SLOSCo will operate beyond shipping and could connect Sierra Leone with wider opportunities in trade, investment, logistics and regional commerce. The government expects a larger maritime sector to create jobs, support businesses and contribute to economic activity.
With the launch of SLOSCo, Sierra Leone is seeking to increase its role in maritime transport, support international trade and make greater use of its location along the West African coast.
source: maritimafrica.com
