Sierra Leone launches SLOSCO shipping venture with China

Sierra Leone has established a national shipping company, SLOSCO, through a joint venture with China’s Zhejiang Xiehai Group. Under the agreement, the Chinese partner will hold a 70% stake, while Sierra Leone retains 30%.

The company intends to initially deploy a fleet of 30 ships, with plans to expand to 50 vessels. These ships will be used to transport minerals, agricultural goods, and petroleum products through Sierra Leonean ports, targeting both regional and international markets. President Julius Maada Bio stated the initiative aims to reduce the nation's dependence on foreign shipping operators.

To support the venture, the Chinese partner will provide access to its existing fleet of 37 vessels, primarily bulk carriers. This partnership occurs as China continues to expand its maritime influence, accounting for a significant portion of global shipbuilding output.