Sierra Leone’s Parliament has ratified a joint venture agreement between the Sierra Leone National Shipping Agency (SLNSA) and Zhejiang Xiehai Group Co., Ltd. of the People’s Republic of China for the establishment of a national shipping carrier.
The agreement, approved on August 4, 2026, in the Well of Parliament in Freetown, will pave the way for the creation of the Sierra Leone Ocean Shipping Company, known as SLOSCo.
The approval marks a significant step in the Government’s efforts to revitalize the country’s maritime industry and strengthen Sierra Leone’s participation in regional and international shipping.
Once operational, SLOSCo is expected to create employment opportunities, attract foreign direct investment, improve maritime logistics and enhance the country’s competitiveness in the global shipping industry.
The joint venture also forms part of the Government’s broader strategy to maximize the economic benefits of Sierra Leone’s import and export trade while reducing the country’s dependence on foreign shipping operators.
Government officials believe that establishing a national carrier will expand the country’s shipping capacity, improve trade facilitation and enable Sierra Leone to retain a greater share of the revenue generated from goods transported to and from the country.
Speaking after Parliament ratified the agreement, the Minister of Transport and Aviation, Ambassador Colonel (Rtd.) Alhaji Fanday Turay, described the approval as a historic achievement for Sierra Leone’s maritime sector.
“This is a defining moment for our country’s maritime industry. The establishment of the Sierra Leone Ocean Shipping Company reflects the Government’s unwavering commitment to restoring a national carrier that will strengthen international trade, create employment for our citizens, build local maritime capacity and contribute significantly to national economic growth,” he stated.
The Minister said the partnership between SLNSA and Zhejiang Xiehai Group demonstrates the Government’s determination to establish strategic international partnerships that support national development and deliver sustainable economic benefits.
According to him, the new company will help strengthen Sierra Leone’s maritime infrastructure, improve shipping services and facilitate the efficient movement of cargo.
He stressed that the initiative goes beyond the ownership and operation of ships, noting that it will also promote professional development and investment across the maritime sector.
“The establishment of SLOSCo is not merely about owning ships; it is about creating opportunities for Sierra Leoneans, promoting skills development, increasing investment in the maritime sector and ensuring that our nation captures greater value from its international trade,” Ambassador Colonel (Rtd.) Alhaji Fanday Turay added.
The Minister commended Members of Parliament for supporting the agreement. He also expressed appreciation to the leadership of SLNSA, Zhejiang Xiehai Group and other stakeholders whose collaboration contributed to the successful conclusion of the agreement.
The establishment of SLOSCo is expected to support the Government’s Blue Economy agenda by expanding commercial shipping operations, improving trade connectivity and generating employment for Sierra Leonean maritime professionals.
The company is also expected to provide training and skills-development opportunities while strengthening Sierra Leone’s ambition to become an emerging maritime hub in West Africa.
Through the national carrier, Sierra Leone could play a greater role in transporting its imports and exports, including minerals, agricultural produce, construction materials and other commercial goods.
Following Parliament’s ratification, the Government, SLNSA and Zhejiang Xiehai Group are expected to proceed with the implementation of the joint venture agreement.
The development signals the beginning of a new phase in Sierra Leone’s maritime sector as the country seeks to build a resilient, competitive and internationally connected shipping industry.
