The Government of Sierra Leone recently launched a new transport firm under the name Sierra Leone Ocean Shipping Company (SLOSCO).
China's Zhejiang Xiehai Group holds 70 per cent of the joint venture, with the state-owned Sierra Leone National Shipping Agency holding the remaining 30 per cent.
SLOSCO aims to assemble a fleet of 50 vessels, with 30 vessels slated for the first phase. It intends to carry minerals, agricultural commodities, and other commercial goods.
The Sierra Leone Ministry of Information and Civic Education said 40 per cent of cargo transported to and from the country is expected to be handled by the company. According to the ministry, the agreement also includes training and employment for Sierra Leoneans.
"For far too long, we have relied on international carriers to export and import our products,” said Sierra Leone’s President Julius Maada Bio. “We are now taking a bold step forward, giving Sierra Leone a greater stake in transporting the goods we trade with the world.”
The President said SLOSCO would work alongside existing shipping operators, not take their place. He also called for the company to conduct its business commercially and comply with international standards on maritime safety and environmental protection.
Wang An, President of the Zhejiang Xiehai Group, said the venture would draw on the company's expertise in shipping, technical knowhow, and business connections.
On August 4, Sierra Leone's Parliament approved the joint venture agreement. SLOSCO intends to use the direct shipping route already established between Taizhou Port in China and Queen Elizabeth II Quay, launched in December 2025.