President Bio Launches 70% Chinese-Owned Sierra Leone Ocean Shipping Company
President Julius Maada Bio has officially launched the Sierra Leone Ocean Shipping Company (SLOSCo), a joint venture between the Sierra Leone National Shipping Agency (SLNSA) and China’s Zhejiang Xiehai Group Co. Ltd., aimed at expanding the country’s participation in international shipping, trade and employment.
The launch took place on Monday, 19 October 2026, at the Queen Elizabeth II Quay, NSBT Terminal, in Freetown. Under the partnership, Zhejiang Xiehai Group holds a 70 per cent stake, while SLNSA owns 30 per cent. The company is expected to handle 40 per cent of cargo moving to and from Sierra Leone.
Speaking at the ceremony, President Bio said SLOSCo would enable Sierra Leone to participate more directly in transporting goods to international markets, reducing its traditional reliance on foreign shipping companies. He called for transparent and commercially sound operations, compliance with national laws and international maritime safety and environmental standards, as well as strong accountability and anti-corruption measures.
The President also highlighted employment creation, technical training for young people and increased women’s participation in the maritime industry, stressing that SLOSCo would complement rather than replace existing shipping operators.
The Minister of Transport and Aviation, Ambassador Alhaji Fanday Turay Esq., described the initiative as part of efforts to strengthen the transport sector and attract private investment. Meanwhile, Trade and Industry Minister Ibrahim Alpha Sesay highlighted how high freight charges affect business costs and local product competitiveness, urging exporters and businesses to explore opportunities in ship chandling, marine insurance and vessel repairs.
Representing Zhejiang Xiehai Group, its president, Wang An, pledged the company’s shipping expertise, technical knowledge and commercial networks to support Sierra Leone’s maritime industry. SLNSA Director General Mustapha Mark Lissa said the venture followed extensive technical preparations, negotiations and institutional collaboration.
Deputy Mines and Mineral Resources Minister Foday Musa Fofana added that reliable shipping services and competitive freight rates could strengthen investor confidence and encourage investment in mining and logistics infrastructure.
The launch forms part of efforts to develop Sierra Leone’s maritime sector, strengthen international trade and create employment and training opportunities. President Bio officially inaugurated the company by cutting the tape at the ceremony.
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