Maldives Economic Gateway: international bunkering services launched

International bunkering services have been launched today at the Maldives Economic Gateway (Ihavandhippolhu).

This is the first time that this service is being offered in the Maldives.

The service was inaugurated by Members of Parliament representing constituencies in Haa Alif atoll.

Bunkering services were established through Netherlands' company Vitol, which also provides similar services in UAE, Singapore and Mauritius.

Offshore bunkering services in Ihavandhippolhu will be provided together with Maldives Ports Limited (MPL). State Trading Organization (STO) will be providing fuel to the boats under these services.

The services are provided through the use of tow boats: 3,528 tonne MT Marine Angel and 3,929 tonne MT Marine Bella. STO said that the two boats were built in compliance with international safety standards.

These were built together with Vitol, with STO holding full rights, under bareboat charter concept, where the boats will be owned by STO in two years.

In the inauguration ceremony of the services held in Haa Alif atoll Hoarafushi today, STO Managing Director Shimaadh Ibrahim said that the service would be provided through two varieties. At present, STO is providing diesel and low sulphur fuel. Diesel is provided to yachts and luxury boats, while cargo boats and other container boats are provide low sulphur fuel.

"Together with Vitol, STO aims to provide services to luxury boats and other profit providing vessels that travel through the Maldives region," he said.

Shimaadh highlighted that it is not a permanent solution to provide these services offshore, and said that the services would be perfected once land is reclaimed from the area and proper fuel farms are set up.

Other services provided through bunkering services include crew change, provision, ship stores, spare parts, repair, as well as provision of clean water.

MPL is also preparing to provide 14 different services from the area in the future.

The channel where bunkering services have commenced see traffic of approximately 300 international vessels per month.

The government aims to earn significant revenues even through serving one percent of the boats that travel in the area. The government has previously projected earnings of around USD 400 million.