President Dr. Julius Maada Bio commissioned the Sierra Leone Ocean Shipping Company Limited (SLOSCO) on Monday, 19 October 2026. This launch ceremony occurred at the Queen Elizabeth II Quay in Freetown to mark the establishment of the new national venture. The commissioning ceremony took place at the Queen Elizabeth II Quay in Freetown, serving as the official site for the commencement of the project.
President Dr. Julius Maada Bio addressed the attendees during the event regarding the shift in maritime operations. "For far too long, we have relied on international carriers to export and import our products," he said. "Today, we’re taking a bold step forward, giving Sierra Leone a greater stake in transporting the goods we trade with the world."
The President emphasized the significance of the event for the local maritime sector, noting that the presence of the new company at the Queen Elizabeth II Quay represents a change in how the nation handles its international trade logistics. The facility at the Queen Elizabeth II Quay provided the backdrop for the unveiling of the company’s vision, which aims to integrate national interests into the global shipping network.
Structure of New Partnership
Sierra Leone National Shipping Agency (SLNSA) holds a 30 percent stake in the Sierra Leone Ocean Shipping Company Limited (SLOSCO) through the new partnership. Zhejiang Xiehai Group Company Limited of China maintains the remaining 70 percent stake in the joint venture. SLOSCO is 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 holds a 70 percent stake. This ownership structure defines the operational framework for the newly formed entity, combining local oversight with the resources provided by the Zhejiang Xiehai Group Company Limited of China.
The collaboration between the Sierra Leone National Shipping Agency (SLNSA) and its Chinese partner is designed to facilitate the expansion of maritime capacity. By formalizing this joint venture, the Sierra Leone National Shipping Agency (SLNSA) and Zhejiang Xiehai Group Company Limited of China aim to streamline the movement of goods entering and leaving the country.
SLOSCO intends to operate a fleet of 50 vessels to manage maritime transport. The company will deploy 30 vessels during the initial phase of these operations. SLOSCO plans to establish a fleet of 50 vessels, with an initial phase consisting of 30 vessels. This phased approach to fleet deployment is intended to allow the company to scale its logistics capabilities effectively. As the company grows, the shift from the initial 30 vessels toward the final fleet of 50 vessels will be managed by the joint venture partners. The deployment of the first 30 vessels marks the start of the company's commitment to managing maritime transport for the nation.
