The Maldives State Shipping (MSS), a subsidiary of State Trading Organization (STO), reports increasing its vessel fleet with the berth of its latest vessel in the island nation.
The "MV MSS Graphene" was purchased from German's "Kendler" shipping company.
The handover of Galena's sister vessel and acquisition fee took place in Male' City, which is the first time a vessel purchase transaction has been formally completed in the Maldives.
The sale and purchase agreement was signed between STO Chief Executive Mr. Hussain Amr, and Kendler's front man Jonas Keller on Friday, July 01.
The newest addition to the fleet measures the same length as its sister vessel Galena and has the capacity of holding 420 loaded containers, and 680 empty containers.
Meanwhile, the Managing Director of MSS Captain Abdulla Saeed assures the newest addition to the company's fleet will commence operations in coming August with regular traverse between Singapore, Malaysia and Maldives.
He further explained that following the sale and purchase agreement, the vessel's registration needs to be changed under Maldivian sovereignty.
Meanwhile, MSS parent company STO's front man, Mr. Amru remains resolute and hopeful that the shipping industry will become the third strongest economic sector in the island nation.
Speaking about industry challenges, Mr. Amru highlighted of the scarcity of trained professionals to cater the expansive nature of the shipping industry in the Maldives.
To resolve this setback, STO in collaboration with Maldives National University (MNU) has launched free education programs for aspiring students interested in pursuing careers in the shipping industry.
Along with 12 expatriates, the three vessels will include locals as its captains, first-officers and engineers.
However, MSS front man claims that the industry lacks trained locals they can hire, should the company add one more vessel into its fleet.