Maldives launches bunkering service in north
STO signed a MoU with Vitol on March 13 to implement an international bunkering project in Ihavandhippolhu.
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Offshore bunkering services have officially launched in Ihavandhippolhu in north Maldives.
The bunkering service, which provides various services to international vessels travelling north across Maldives, was inaugurated Thursday by the parliament members from the northern area.
The ceremony was attended by Economic Minister Mohamed Saeed, other government officials, STO Managing Director Shimad Ibrahim and the company's board members.
Under this service:
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Offshore bunkering or ship refuelling services will be provided by STO
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Pilotage and other maritime services will be provided by MPL
Floating bunkering services were launched in Ihavandhippolhu using 3,258-tonne MT Marine Angel and 3,929-tonne MT Marine Bella vessels. Storage is also planned in the area for future service expansion.
The two ships are:
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Two vessels designed and bound for the provision of such service, certificates of full compliance with international standards for safety and security issued by the LR class and the Flag State
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The two vessels have been acquired jointly by STO and Vitol under the Bear Boat Charter concept with STO's full rights for bunkering services
STO signed a MoU with Vitol on March 13 to implement an international bunkering project in Ihavandhippolhu.
STO has stated that despite the challenges in a competitive market, even a 1% market share in the bunkering service sector could make it a profitable industry for the Maldives.
