Parliament Ratifies Shipping Joint Venture Agreement; As Sierra Leone Moves to Establish a National Carrier
Sierra Leone has taken a decisive step towards revitalising 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 landmark parliamentary approval represents 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, enhance maritime logistics and improve the country’s competitiveness within the global shipping industry.
The joint venture forms part of the Government’s broader agenda to maximise the economic benefits of Sierra Leone’s growing import and export trade while reducing reliance on foreign shipping operators. Once operational, the Sierra Leone Ocean Shipping Company will provide the country with a national carrier capable of supporting trade facilitation, expanding shipping capacity and retaining greater 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 signals 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 for our citizens, build local maritime capacity and contribute significantly to national economic growth,” he said.
Minister Turay noted that the partnership between the Sierra Leone National Shipping Agency and Zhejiang Xiehai Group Co. Ltd. demonstrates Government’s commitment to forging strategic international partnerships that deliver sustainable economic benefits while supporting national development priorities.
He emphasised that the new shipping company will contribute to strengthening Sierra Leone’s maritime infrastructure, improving shipping services, facilitating more efficient movement of cargo and positioning the country to compete more effectively within 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 its international trade,” the Minister added.
He commended Members of Parliament for their overwhelming support for the agreement and expressed appreciation to the leadership of the Sierra Leone National Shipping Agency, Zhejiang Xiehai Group Co. Ltd. and all stakeholders whose collaboration made the initiative possible.
The establishment of the Sierra Leone Ocean Shipping Company is expected to support the Government’s Blue Economy agenda by expanding commercial shipping operations, enhancing trade connectivity, generating employment for maritime professionals and strengthening Sierra Leone’s position as an emerging maritime hub in West Africa.
With parliamentary approval now secured, Government is expected to begin implementing the joint venture agreement, marking the start of a new era for Sierra Leone’s maritime sector and reinforcing its commitment to building a resilient, competitive and globally connected shipping industry.
Source : Comms Unit, MoTA
