The second bunkering vessel, MT Marine Bella, has successfully docked near Kulhudhuffushi City as the Maldives’ prepares to launch its long-anticipated bunkering services. Brought by the State Trading Organisation (STO), the vessel has a capacity of 4,000 tonnes. The first tanker, Marine Angel, arrived in Kulhudhuffushi City on 9 September. The bunkering service is set to begin in Ihavandhippolhu Atoll, marking a significant milestone in the country’s maritime sector.
Bunkering services, which involve the supply of fuel to marine ships and vessels, are expected to become a lucrative business for the Maldives. The country’s strategic location, situated near two major international shipping lanes, positions it as an ideal refuelling point. The region’s calm seas and shallow waters also provide convenient access for ships of various sizes, according to the government.
The Maldives will be providing these services in collaboration with Vitol Bunkers, a multinational energy and commodity trading company that specialises in maritime energy solutions. While the Maldives’ current Gross Domestic Product (GDP) stands at USD 6.5 billion, the government estimates that the bunkering industry will contribute an additional USD 400 million, creating a new industry valued at USD 390 million.
Efforts to establish the necessary infrastructure for the bunkering services are already underway. An office building for the service, located in Uligan, Haa Alif Atoll, will be inaugurated a day before the official launch. Maldives Ports Limited (MPL) has also confirmed plans to reclaim land in surrounding areas to further expand the service. This expansion is expected to boost state revenues and create job opportunities within this emerging competitive industry.
The government views offshore bunkering as a key growth area, with ongoing preparations to ensure the necessary resources and staff are in place. By capitalising on its geographic advantages and collaborating with global partners, the Maldives aims to establish itself as a prominent player in the international bunkering sector.
