President Bio Launches Sierra Leone’s First National Ocean Shipping Company
By Staff Writer
President Julius Maada Bio on Monday officially commissioned the Sierra Leone Ocean Shipping Company Limited (SLOSCo) at the Queen Elizabeth II Quay in Freetown, marking a significant step towards strengthening the country’s participation in international maritime trade.
SLOSCo, described as Sierra Leone’s first dedicated national ocean carrier, is a joint venture between the Sierra Leone National Shipping Agency (SLNSA), which holds a 30 per cent stake on behalf of the Government, and China’s Zhejiang Xiehai Group, which owns the remaining 70 per cent.
The establishment of the company is intended to enable Sierra Leone to play a more direct role in transporting its imports and exports while retaining a greater share of the economic benefits generated by international trade.
Under the SLNSA Act 2025, the agency is designated as the National Carrier, with a mandate to participate in up to 40 per cent of the country’s import and export cargo. SLOSCo will provide the commercial and operational structure through which that mandate will be implemented.
Delivering the keynote address at the commissioning ceremony, President Bio said the initiative would enhance business competitiveness, create employment opportunities for young people and women in the maritime industry, and improve the transportation of the country’s mining and agricultural exports.
He also stressed the importance of transparency, accountability and adherence to international maritime standards, underscoring the need for the company to operate efficiently and in the national interest.
Minister of Transport and Aviation, Ambassador Alhaji Fanday Turay, described the launch as a defining milestone in Sierra Leone’s maritime development.
He said the establishment of SLOSCo provides the country with a commercially capable platform to participate directly in the transportation of its international trade, potentially reducing reliance on foreign shipping operators and enabling Sierra Leone to retain more value from its import and export activities.
The ceremony was attended by First Lady Dr Fatima Maada Bio, SLNSA Director-General Mustapha Mark Lissa, Zhejiang Xiehai Group President Wang An, the Chinese Ambassador to Sierra Leone, and other government officials and dignitaries.
Founded in 2013, Zhejiang Xiehai Group operates approximately 50 vessels worldwide, bringing international shipping experience to the joint venture.
The launch follows Parliament’s ratification of the agreement earlier this year, paving the way for the establishment of the company.
The commissioning of SLOSCo represents a major development in Sierra Leone’s efforts to expand its maritime capacity, strengthen local participation in international shipping, and create new opportunities within the country’s blue economy.
