China Deepens Maritime Foothold In Africa With 50-Ship Sierra Leone Venture

The West African Country of Sierra Leone has launched a national shipping company named SLOSCO in partnership with China’s Zhejiang Xiehai Group. China would have a 70% and Sierra Leone a 30% share in the joint venture.

According to sources, the company plans to deploy a fleet of 30 ships initially and then expand it to a total of 50, based on the design of its partner’s existing vessels.

SLOSCO would use the ships to transport petroleum products, agricultural goods and minerals through the ports of Sierra Leone, with operations expected to include both regional and international markets.

The President of Sierra Leone, Julius Maada Bio, said that the decision comes to prevent the country’s reliance on foreign shipping operators and to support the venture, the Chinese partner company will offer access to its fleet of 37 ships, mainly bulkers.

This story was originally published by Marine Insight. Read the full story at Marine Insight →