Maldives State Shipping (MSS) has revealed it has now become a profitable company.
Speaking to PSM News, Managing Director Abdulla Saeed said that MSS has been working to increase its revenue since November and that it has now become a profitable subsidiary of State Trading Organisation (STO). He said MSS is in a great financial situation and will continue to work to maintain its profitability, as demand for its services has increased since the country’s economy began recovering from the COVID-19 pandemic.
MSS is a shipping and logistics company owned by STO, offering an extensive international liner shipping service. MSS began its services in 2020 to reduce the price of goods imported into the country. The company has stated it is working to expand its fleet as well as develop its human resources by providing more employment and career opportunities.
MSS has revealed that it will bring in a new ship in June to transport goods from Singapore and that it will next establish a shipping route with Dubai, UAE. MSS is also expecting its new bulk carrier MSS Chrome to arrive from the UAE with a full cargo. MSS purchased the new bulk carrier in April for the import of construction materials. The company bought its first vessel MSS Galena last year and is also bringing in a new container ship named MSS Graphene to meet the demand for shipping services. Prior to the purchase of its own vessels, MSS had been importing cargo on chartered vessels.