President Dr Julius Maada Bio has officially commissioned the Sierra Leone Ocean Shipping Company Limited (SLOSCO), marking a significant milestone in the Government’s efforts to strengthen the country’s maritime industry, expand international trade, create employment opportunities and reduce dependence on foreign shipping companies.
The commissioning ceremony, held on Monday, 19 October 2026, at the Queen Elizabeth II Quay in Freetown, represents a major step towards positioning Sierra Leone as an emerging maritime and logistics hub along the West African coast.
SLOSCO was established through a joint venture between the Sierra Leone National Shipping Agency (SLNSA), which holds a 30 percent stake and Zhejiang Xiehai Group Company Limited of China, which controls the remaining 70 percent.
The partnership is designed to enhance Sierra Leone’s participation in international shipping, strengthen cargo transportation services and ensure that the country derives greater economic benefits from its import and export activities.
Under its development plans, SLOSCO intends to establish a fleet of 50 vessels, with an initial phase comprising 30 vessels. The initiative is expected to strengthen maritime connectivity, facilitate the transportation of minerals, agricultural commodities and other commercial goods, and expand Sierra Leone’s access to regional and international markets.
Delivering the keynote address, President Dr Julius Maada Bio described the establishment of SLOSCO as a strategic investment in the country’s economic future, emphasizing that Sierra Leone must move beyond dependence on international shipping operators and develop its own capacity to participate meaningfully in global maritime commerce.
“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 Bio declared.
The President stressed that developing national shipping capacity would enable Sierra Leone to retain a greater proportion of the revenue generated from transporting its goods, improve the competitiveness of local businesses and strengthen the country’s position within international trading networks.
He further highlighted the importance of employment creation, technology transfer and professional training, insisting that Sierra Leoneans, particularly young people and women, must benefit directly from opportunities emerging within the maritime industry.
President Bio also underscored the potential contribution of the shipping company to the Government’s broader economic transformation agenda, particularly in agriculture, mining, trade and industrial development.
He called on the Ministry of Transport and Aviation, the Sierra Leone National Shipping Agency and the company’s international partners to prioritize transparency, accountability, sound financial management and strict compliance with national legislation and international maritime safety standards.
Welcoming the President, the Director-General of the Sierra Leone National Shipping Agency, Mustapha Mark Lissa, commended President Bio for providing the leadership necessary to establish the company.
Mustapha Mark Lissa expressed appreciation to Zhejiang Xiehai Group for its investment commitment, describing the partnership as an important opportunity to expand maritime operations, generate employment and strengthen Sierra Leone’s shipping industry.
The President of Zhejiang Xiehai Group Company Limited, Wang An, reaffirmed his company’s commitment to the partnership, describing it as another demonstration of the longstanding economic and diplomatic relationship between Sierra Leone and China.
Wang An explained that the venture has the potential to stimulate economic activities across the maritime, mining, logistics and commercial sectors while promoting local employment, professional training and the transfer of technical expertise to Sierra Leoneans.
Deputy Minister of Mines and Mineral Resources, Foday Mousa Fofana, welcomed the initiative, highlighting its importance to the mining sector, which depends heavily on reliable maritime transportation for the export of mineral resources.
He observed that improved shipping capacity could strengthen the transportation of minerals, enhance operational efficiency and increase the mining industry’s contribution to national economic development.
Minister of Trade and Industry, Alpha Ibrahim Sesay, described SLOSCO as an opportunity to expand Sierra Leone’s commercial activities and improve the participation of local businesses in international trade.
Alpha Ibrahim Sesay encouraged the establishment of arrangements that would allow Sierra Leonean enterprises to benefit from the company’s operations, stressing that effective public-private partnerships remain essential to strengthening exports, attracting investment and promoting sustainable economic growth.
Minister of Transport and Aviation, Ambassador Alhaji Fanday Turay, described the commissioning as an important achievement in the Government’s ongoing efforts to modernize Sierra Leone’s transportation infrastructure.
Ambassador Alhaji Fanday Turay highlighted initiatives aimed at improving maritime operations, strengthening transport governance, increasing revenue generation and creating an enabling environment for investment across the transport sector.
He also acknowledged the contributions of the Sierra Leone National Shipping Agency, Zhejiang Xiehai Group and other stakeholders whose collaboration made the establishment of SLOSCO possible.
Beyond its immediate shipping operations, the company is expected to create opportunities in logistics, port services, vessel management, maritime training and related commercial activities.
The planned expansion of shipping capacity could also strengthen Sierra Leone’s ability to support regional commerce and attract further investment into maritime infrastructure.
However, the long-term success of the venture will depend on the effective implementation of its fleet development plans, sustainable commercial operations, transparent management and the meaningful participation of Sierra Leonean professionals and businesses.
The establishment of SLOSCO reflects the Government’s broader ambition to diversify the economy, strengthen strategic infrastructure, promote private-sector investment and maximize the benefits of Sierra Leone’s geographical position along the Atlantic coast.
With the commissioning of the Sierra Leone Ocean Shipping Company Limited, President Dr Julius Maada Bio has set in motion an ambitious initiative intended to increase national participation in global shipping, expand trade opportunities and position the maritime industry as an important contributor to Sierra Leone’s long-term economic development.
