SLOSCO – Sierra Leone’s latest Chinese shipping venture
After two ambitious Chinese-backed infrastructure projects were abandoned or stalled, Sierra Leone is turning to another Chinese partner to develop a “national” shipping industry. The financing model has changed, but familiar questions remain. On…
After two ambitious Chinese-backed infrastructure projects were abandoned or stalled, Sierra Leone is turning to another Chinese partner to develop a “national” shipping industry. The financing model has changed, but familiar questions remain.
On 19 October, Sierra Leone inaugurated its new national shipping company, Sierra Leone Ocean Shipping Company (SLOSCO), with ambitions to operate, in time, 50 vessels and capture a significant share of the country’s maritime trade.
The venture is 70% owned by China’s Zhejiang Xiehai Group, with the remaining 30% held by the state-owned Sierra Leone National Shipping Agency (SLNSA).
The objective is straightforward: retain more of the freight earnings generated by Sierra Leone’s imports and mineral exports.
This story was originally published by The Loadstar. Read the full story at The Loadstar →
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