China Secures 70% Stake in Sierra Leone’s 50-Ship Fleet Venture
SLOSCO joint venture to deploy 50 vessels, with China holding a 70% share and access to 37 bulkers.
Sierra Leone has established a new national shipping company, SLOSCO, in collaboration with China’s Zhejiang Xiehai Group. The joint venture grants China a 70% stake, while Sierra Leone retains 30%. The initiative aims to strengthen the country’s maritime capabilities by deploying a fleet of up to 50 ships to transport petroleum products, agricultural goods, and minerals.
SLOSCO will begin operations with an initial fleet of 30 vessels, with plans to expand to 50 ships modeled after Zhejiang Xiehai Group’s existing fleet. The Chinese partner will support the venture by providing access to its 37 bulk carriers, enabling Sierra Leone to serve both regional and international markets. President Julius Maada Bio emphasized the move as a way to reduce dependence on foreign shipping operators, stating the partnership would enhance the country’s maritime independence.
Fleet Development and Strategic Goals: Sierra Leone
With 584 registered vessels, Sierra Leone now ranks as Africa’s third-largest merchant ship registry and the 32nd globally. It follows Liberia, which leads with 4,821 vessels, and Nigeria, with 928 vessels. Egypt and Tanzania hold the fourth and fifth positions, with 441 and 381 ships, respectively.
SLOSCO’s website lists 54 vessels in active service, including container ships, bulk carriers, and chemical tankers. However, it does not specify whether these are owned or chartered. Meanwhile, China’s maritime influence continues to grow, with its shipbuilding output accounting for 56.1% of global production last year and securing nearly 80% of new build orders in the first nine months of 2026.
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