The Maldives has been recognized as a strategic bunkering location, securing a position on the popular global map Vitol Bunkers. Bunkering refers to the supply of fuel for ships.
Economic Minister Mohamed Saeed announced the inclusion on social media, sharing screenshots of the new listing. This development comes after the State Trading Organisation (STO) partnered with Swiss-based Dutch company Vitol last month to initiate the International Bunkering Project in Ihavandhippolhu.
Finally Maldives featured on the popular global bunkers map 🇲🇻 pic.twitter.com/p6hp4N07lV
— Mohamed Saeed (@em_saeed) April 2, 2024
The project involves the construction of an international bunkering facility, which will enable ships to dock and refuel directly in the Maldives. STO Managing Director Shimad Ibrahim anticipates significant economic benefits for the country, including increased foreign currency exchange rates, reserves, and new job opportunities.
Vitol Bunkers is a significant player in the maritime energy sector, providing energy solutions worldwide. The company’s expertise in bunkering fuels and its growing focus on decarbonization solutions align well with the Maldives’ potential as a more sustainable refuelling hub.
