The Sierra Leone Ocean Shipping Company (SLOSCO) was officially established recently, with Zhejiang Xiehai Group holding 70% and the Sierra Leone National Shipping Authority holding 30%.

Under its development plan, SLOSCO intends to build a 50-vessel ocean-going fleet in phases, with the first phase targeting 30 vessels. The company will focus on ensuring the export of Sierra Leone’s iron ore, bauxite and other mineral products, as well as the import of petroleum, grain and other important commodities.

The establishment of this joint venture is an important milestone in the Sierra Leonean government’s efforts to rebuild the country’s national ocean shipping capacity, expand international trade and reduce dependence on foreign shipping companies. In July this year, the Sierra Leone National Shipping Authority and Zhejiang Xiehai Group signed a joint venture agreement, and on August 4 the agreement was approved by the Parliament of Sierra Leone, laying the legal foundation for the official establishment of the new company.

This cooperation is also closely related to the reform of Sierra Leone’s shipping management system. The former national shipping company of Sierra Leone was founded in 1972 and completed restructuring in 2025 under the new National Shipping Authority Act. Under the relevant legal provisions, the Sierra Leone National Shipping Authority has been granted national carrier status and holds the right to carry 40% of the total value of the country’s imports and exports. In practice, SLOSCO will serve as an important commercial operating platform to facilitate the implementation of the related transport business.

It is reported that Sui Xiao serves as CEO of SLOSCO, and former BRS executive Laurent Debart serves as Chief Operating Officer. SLOSCO has established business offices in Freetown, Shanghai and Geneva.