Sierra Leone has taken a major step towards revitalizing its maritime industry following Parliament’s ratification of the Joint Venture Agreement between the Sierra Leone National Shipping Agency (SLNSA) and Zhejiang Xiehai Group Co. Ltd. of the People’s Republic of China, paving the way for the establishment of the Sierra Leone Ocean Shipping Company (SLOSCo).
The parliamentary approval marks a significant milestone in the Government’s efforts to restore a national shipping carrier and strengthen Sierra Leone’s participation in regional and international maritime trade. The initiative is expected to create employment opportunities, attract foreign direct investment, improve maritime logistics, and enhance the country’s competitiveness within the global shipping industry.
The joint venture forms part of the Government’s broader strategy to maximise the economic benefits of Sierra Leone’s expanding import and export trade while reducing dependence on foreign shipping operators. Once operational, the Sierra Leone Ocean Shipping Company will serve as a national carrier capable of supporting trade facilitation, increasing shipping capacity, and retaining greater economic value from goods transported to and from Sierra Leone.
Speaking after Parliament ratified the agreement, the Minister of Transport and Aviation, Ambassador Col. (Rtd.) Alhaji Fanday Turay Esq., described the approval as a historic achievement that ushers in a new chapter 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 opportunities for our citizens, develop local maritime capacity, and contribute significantly to national economic growth,” Minister Turay said.
He noted that the partnership between the Sierra Leone National Shipping Agency and Zhejiang Xiehai Group Co. Ltd. demonstrates the Government’s commitment to building strategic international partnerships that deliver sustainable economic benefits while supporting national development priorities.
Minister Turay further emphasized that the new shipping company will play a critical role in strengthening Sierra Leone’s maritime infrastructure, improving shipping services, facilitating efficient cargo movement, and positioning the country to compete more effectively in the global maritime industry.
“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 international trade,” he added.
The Minister commended Members of Parliament for their support in ratifying the agreement and expressed appreciation to the leadership of the Sierra Leone National Shipping Agency, Zhejiang Xiehai Group Co. Ltd., and other stakeholders whose collaboration contributed to the success of the initiative.
The establishment of the Sierra Leone Ocean Shipping Company aligns with the Government’s Blue Economy agenda by expanding commercial shipping operations, improving trade connectivity, creating employment opportunities for maritime professionals, and strengthening Sierra Leone’s position as an emerging maritime hub in West Africa.
With parliamentary approval secured, the Government is expected to commence implementation of the joint venture agreement, marking the beginning of a new era for Sierra Leone’s maritime sector and reinforcing its commitment to building a resilient, competitive, and globally connected shipping industry