Sierra Leone bets on 50-ship fleet to cut foreign cargo reliance
The new national carrier, 70% Chinese-owned, targets iron ore and bauxite exports.
Sierra Leone has launched a national shipping company backed by China’s Zhejiang Xiehai Group, aiming to build a 50-vessel fleet and secure a larger share of the country’s international cargo trade. The venture, Sierra Leone Ocean Shipping Company (SLOSCO) Company (SLOSCO), was inaugurated at Queen Elizabeth II Quay in Freetown on October 19, with President Julius Maada Bio declaring it a “bold step forward” for the nation’s maritime ambitions.
SLOSCO plans to develop a fleet of 50 vessels, with an initial phase targeting 30 ships. The company will focus on dry bulk, liquid bulk, and other cargoes, prioritising Sierra Leone’s key exports, iron ore and bauxite, as well as imports of petroleum products, grain, and essential commodities. The venture follows the restructuring of the country’s longstanding national shipping entity into the Sierra Leone National Shipping Agency (SLNSA) last year, which holds a 30% stake in SLOSCO, while Zhejiang Xiehai Group controls the remaining 70%.
Under local legislation, the national carrier is entitled to rights covering 40% of the value of Sierra Leone’s import and export cargoes. This legal framework is designed to reduce the country’s reliance on foreign shipping companies, which currently dominate the sub-Saharan African maritime trade.
A.P. Møller-Maersk
President Bio, speaking at the launch, emphasised the strategic importance of the venture:
Fleet plans and cargo targets: Sierra Leone
«For far too long, we have relied on international carriers to export and import our products. Today, we’re taking a bold step forward, giving Sierra Leone a greater stake in transporting the goods we trade with the world.»
Julius Maada Bio·President of Sierra Leone
SLOSCO is led by Chief Executive Sui Xiao, with Laurent Debart, a former executive at BRS Shipbrokers, serving as Chief Operating Officer. The company has established operations in Freetown, Shanghai, and Geneva, reflecting its international ambitions.
The venture enters a competitive market dominated by global carriers such as MSC, Maersk, CMA CGM, COSCO Shipping, and Hapag-Lloyd. These operators currently handle much of the maritime trade serving African economies, leaving limited space for new entrants. SLOSCO’s success will hinge on its ability to secure financing, attract cargo volumes, and compete on cost and efficiency.
Leadership and operational footprint
The launch of SLOSCO marks another expansion of Chinese shipping interests in West Africa. For Sierra Leone, the venture represents an opportunity to retain a greater share of the freight revenue generated by its international trade, which has historically flowed to foreign carriers.
The sub-Saharan African maritime container freight market’s projected growth offers a favourable backdrop for SLOSCO’s ambitions. The 40% cargo rights granted to the national carrier could provide a competitive advantage, but the venture’s long-term viability will depend on its ability to translate these rights into commercial success.
As SLOSCO begins its operations, industry observers will be watching closely to see whether the company can deliver on its ambitious fleet plans and carve out a sustainable niche in the competitive maritime trade landscape. The next steps will likely include securing financing for vessel acquisitions, finalising partnerships with cargo owners, and establishing a network of routes that connect Sierra Leone’s key trade hubs with global markets. The company’s ability to attract and retain talent, particularly in commercial and operational roles, will also be critical to its success.
For now, the launch of SLOSCO represents a significant milestone in Sierra Leone’s maritime history. If successful, the venture could serve as a model for other African nations seeking to reduce their reliance on foreign shipping companies and gain greater control over their international trade. The coming months will be crucial in determining whether SLOSCO can turn its ambitious plans into reality.
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