Maldives Ports Limited (MPL) is in the final stages of preparation to commence international bunkering services in the northern atolls, with an anticipated launch date of August 20. This significant development is aimed at positioning the Maldives as a key global bunkering destination.
To facilitate the bunkering services, MPL has recently brought a pilot boat and a tugboat to Kulhudhuffushi City. The government is exerting maximum efforts to ensure the successful initiation of these services. A term sheet has been signed with Vitol Bunkers, a multinational energy and commodity trading company, underscoring the collaborative nature of this venture. This partnership is expected to enhance the Maldives’ prominence on the global bunkers map.
MPL has played a pivotal role in these preparations, providing essential maritime assets such as the tugboat and pilot boat, which will assist vessels arriving and docking in the harbours. The captains and crews of these boats were warmly welcomed by MPL’s Chief Executive Officer, Mohamed Wajeeh Ibrahim, and other officials from the company’s management team.
Final preparations include the rapid development of an administrative office, which is slated for completion by August 15. MPL has confirmed that work is progressing at a swift pace to meet this deadline.
Bunkering, the process of supplying fuel to vessels, is a critical service given the Maldives’ strategic location near two major shipping routes. The introduction of bunkering services is expected to significantly contribute to the nation’s economic growth by meeting the high demand for such services.
The project will be executed in two phases. The first phase focuses on providing off-port bunkering services, necessitating the establishment of physical infrastructure to support vessels docking in the atolls. The second phase involves the development of a port designed to offer comprehensive services, further enhancing the capabilities of the bunkering hub.
This initiative is part of broader efforts by the government to transform the northern islands into a key economic hub, thereby contributing to the nation’s overall economic development. By expanding bunkering services, the Maldives aims to leverage its strategic geographic location to boost economic growth and development in the region.
As the launch date approaches, anticipation is building for the economic benefits that the new bunkering services will bring to the Maldives, marking a significant milestone in the nation’s maritime and economic landscape.