By Salamatu Conteh
FREETOWN, 19 October 2026 – President Dr Julius Maada Bio has officially launched the Sierra Leone Ocean Shipping Company (SLOSCo), marking a major step towards strengthening the country’s shipping capacity, boosting international trade and creating jobs for Sierra Leoneans.
The launch took place at the Queen Elizabeth II Quay, NSBT Terminal, in Freetown, with government officials, diplomatic representatives and private-sector partners in attendance.
SLOSCo was established through a joint venture between the Sierra Leone National Shipping Agency (SLNSA) and China’s Zhejiang Xiehai Group Co. Ltd. The partnership aims to increase Sierra Leone’s participation in international shipping and enable the country to benefit more directly from the movement of its imports and exports.
Under the arrangement, Zhejiang Xiehai Group holds a 70 per cent stake, while SLNSA holds 30 per cent. The company is also expected to handle 40 per cent of cargo moving to and from Sierra Leone. The agreement includes training and employment opportunities for Sierra Leoneans.
Speaking at the launch, President Bio said Sierra Leone had long depended on foreign shipping companies to transport its mineral resources, agricultural produce and imported goods.
He said the establishment of SLOSCo would help change this by allowing the country to participate more directly in the shipping industry and retain more value from its international trade.
The President stressed that the company must operate commercially, transparently and in line with national laws and international maritime safety and environmental standards. He also called for zero tolerance for corruption and regular monitoring to ensure the partnership delivers tangible results.
He highlighted the importance of creating jobs and providing technical training for young people, particularly those interested in maritime careers. He also expressed his desire to see more women working in the industry.
President Bio noted that the new company would complement existing shipping operators rather than replace them, providing another opportunity for Sierra Leone to strengthen its position in international commerce.
The Minister of Transport and Aviation, Ambassador Alhaji Fanday Turay Esq, described the launch as an important milestone in the government’s efforts to improve the transport sector and attract private-sector investment.
He acknowledged the work of SLNSA, government institutions and international partners in bringing the initiative to fruition, adding that the government would continue to invest in reforms across maritime, land and air transportation to support trade, investment and job creation.
The Minister of Trade and Industry, Ibrahim Alpha Sesay, said shipping costs remain a major challenge for African businesses and can affect the prices of goods and the competitiveness of local products.
He emphasised that the national carrier should serve all exporters, not only the mining sector, and called for local businesses to benefit from opportunities in supporting services such as ship chandling, insurance and vessel repairs.
Speaking on behalf of the Chinese partner, Mr Wang An, President of Zhejiang Xiehai Group, thanked President Bio for his leadership and reaffirmed his company’s commitment to bringing shipping expertise, technical knowledge and commercial networks to Sierra Leone.
He said the partnership would help develop the country’s shipping industry, create employment and strengthen cooperation between Sierra Leone and China.
The Director General of SLNSA, Mustapha Mark Lissa, said the launch followed extensive technical work, negotiations and collaboration to establish a commercially viable shipping company.
He thanked the President for his support and acknowledged the Ministry of Transport and Aviation and other institutions for helping resolve the legal, institutional and commercial challenges encountered during the process.
The Deputy Minister of Mines and Mineral Resources, Foday Musa Fofana, welcomed the initiative, noting that reliable shipping services and competitive freight rates could improve investor confidence and support investment in mining and logistics infrastructure. He also reaffirmed his ministry’s commitment to coordination, transparency and responsible mineral-sector development.
The launch of SLOSCo forms part of the government’s wider efforts to strengthen Sierra Leone’s maritime sector and expand its participation in international trade.
The ceremony concluded with President Bio cutting the tape to officially launch the company, which is expected to create new opportunities for local businesses, develop maritime skills and increase Sierra Leone’s participation in the shipping industry.
