Minister of Transport and Civil Aviation Mohamed Ameen has emphasised the need for the state to benefit more directly from maritime activities taking place within the Maldives’ Exclusive Economic Zone (EEZ).
In an interview with Public Service Media (PSM), Minister Ameen noted that various operations—particularly the transfer of oil and gas between vessels—are regularly carried out within the country’s EEZ. However, these activities currently offer little financial return to the state. He attributed this to regulatory changes in recent years that have opened the sector to private handling parties, without establishing structured mechanisms for the government to generate revenue.
Ship-to-ship (STS) transfers remain a key area of focus. Despite their frequency and economic scale, the state has not capitalised on their potential due to the absence of comprehensive oversight and benefit-sharing policies. Minister Ameen reiterated that the government must ensure it derives tangible value from all maritime operations conducted within national waters.
To address this, the Ministry of Transport and Civil Aviation has begun working with the Coast Guard, Maldives Ports Limited (MPL), and knowledgeable private sector stakeholders. Together, they are assessing the potential benefits of STS operations, with the goal of developing a policy framework that enhances national revenue. The minister confirmed that, if the findings are favourable, the government will expedite this process to implement a policy that ensures long-term benefit.
In addition to this, the government has launched bunkering services to supply fuel to vessels operating within the EEZ. Through the State Trading Organization (STO), low sulphur oil is now being provided, generating MVR 124 million in revenue for the state so far. This development signals the gro
