President Julius Maada Bio has officially launched the Sierra Leone Ocean Shipping Company Limited (SLOSCo), marking a major step towards strengthening the country’s participation in international maritime trade and reducing reliance on foreign shipping services.
The launch ceremony was held on Monday at the Queen Elizabeth II Quay, NSBT Terminal, in Freetown, bringing together government officials, Chinese investors, diplomats and other dignitaries to witness the establishment of the country’s first dedicated national ocean carrier.
SLOSCo is a joint venture between the Sierra Leone National Shipping Agency (SLNSA), which holds a 30 per cent stake on behalf of the Government of Sierra Leone, and China’s Zhejiang Xiehai Group, which owns the remaining 70 per cent. The partnership combines the agency’s national mandate with the Chinese company’s shipping expertise, vessel ownership and international commercial experience.
The establishment of the company follows the Sierra Leone National Shipping Agency Act 2025, which designates SLNSA as the National Carrier and mandates it to participate in the transportation of up to 40 per cent of cargo imported into and exported from Sierra Leone. SLOSCo will serve as the commercial and operational platform for implementing this mandate under competitive international conditions.
Delivering the keynote address, President Bio described the company as a strategic investment with the potential to improve the competitiveness of local businesses, create employment and expand opportunities for young Sierra Leoneans, particularly women, in the maritime industry.
He emphasised the importance of technology transfer, professional training and skills development to ensure that Sierra Leoneans acquire the expertise needed to participate meaningfully in the sector and benefit from its growth.
The President also highlighted the potential benefits for the mining and agricultural sectors, noting that improved shipping capacity could support the more reliable transportation of minerals, agricultural produce and other export commodities.
He called on the Ministry of Transport and Aviation, SLNSA and the company’s partners to uphold transparency, accountability and sound financial management while ensuring compliance with national laws and international maritime standards.
Minister of Transport and Aviation, Ambassador Alhaji Fanday Turay, described the launch as a defining milestone in Sierra Leone’s maritime development, noting that the country now has a dedicated commercial platform through which it can participate directly in transporting its own international trade.
He explained that SLOSCo is intended to operate as a national commercial partner working alongside cargo owners, shipowners, charterers, ports and logistics providers on internationally competitive terms, rather than creating an additional administrative burden for businesses.
According to the minister, the venture is expected to help retain a greater share of the value generated by Sierra Leone’s international trade within the national maritime sector, while supporting job creation, building local expertise and developing long-term shipping capacity.
Director-General of SLNSA, Mustapha Mark Lissa, welcomed the partnership and expressed appreciation to the Chinese investors, highlighting its potential to create employment opportunities and strengthen Sierra Leone’s shipping industry.
President of Zhejiang Xiehai Group, Wang An, described the venture as an extension of the longstanding trade relations between Sierra Leone and China. He pledged the company’s support for local employment, skills development and improvements in the country’s shipping management capacity.
Deputy Minister of Mines and Mineral Resources, Foday Mousa Fofana, and Minister of Trade and Industry, Alpha Ibrahim Sesay, also highlighted the potential benefits of the initiative, particularly for mineral exports and the participation of local businesses in international trade.
Founded in 2013 and headquartered in Linhai, Zhejiang Province, China, Zhejiang Xiehai Group operates a fleet of approximately 50 vessels across dry bulk, tanker and container shipping. Its involvement is expected to provide SLOSCo with access to vessel capacity, commercial expertise and international shipping networks while supporting the development of Sierra Leonean maritime professionals.
The ceremony was attended by First Lady Dr Fatima Maada Bio, who introduced the President, alongside the Chinese Ambassador to Sierra Leone, ministers, government officials and other dignitaries. The programme included national anthems, Christian and Muslim prayers, official statements, a video presentation on the national ocean carrier, cultural performances and the symbolic unveiling of the company.
SLOSCo’s launch follows the parliamentary ratification of its joint-venture agreement earlier in 2026 and builds on the transformation of the former Sierra Leone National Shipping Company into the SLNSA in 2025.
The initiative forms part of broader efforts to increase Sierra Leone’s role in global maritime trade, strengthen local shipping capacity and retain more economic value from the movement of goods into and out of the country.
