Sierra Leone has launched a new national shipping company in partnership with China’s Zhejiang Xiehai Group, aiming to build a fleet of 50 vessels and retain a larger share of freight revenue from its international trade.
President Julius Maada Bio inaugurated the Sierra Leone Ocean Shipping Company (SLOSCO) at Queen Elizabeth II Quay in Freetown earlier this week. Zhejiang Xiehai Group holds a 70% stake in the venture, while the state-owned Sierra Leone National Shipping Agency (SLNSA) owns the remaining 30%.
The company plans to develop a fleet of 50 vessels, with an initial phase comprising 30 ships. Its operations will cover dry bulk, liquid bulk and other cargo segments, supporting Sierra Leone’s major exports, including iron ore and bauxite, as well as imports of petroleum products, grain and other essential commodities.
“For far too long, we have relied on international carriers to export and import our products,” President Bio said, highlighting the country’s ambition to strengthen its participation in maritime transport and reduce its dependence on foreign shipping operators.
The launch follows the restructuring of Sierra Leone’s longstanding national shipping company into SLNSA last year. Legislation grants the national carrier rights covering 40% of the value of the country’s import and export cargoes, providing a framework for greater domestic participation in international shipping.
SLOSCO is headed by Chief Executive Sui Xiao, while Laurent Debart, a former executive of BRS Shipbrokers, has been appointed Chief Operating Officer. The company has established operations in Freetown, Shanghai and Geneva to support its international activities.
The venture marks another expansion of Chinese shipping interests in West Africa. For Sierra Leone, the initiative is intended to strengthen national shipping capacity, support the movement of key commodities and capture a greater share of the freight earnings generated by its international trade.