The Maldives Ports Limited (MPL) is undertaking the final preparations to commence international bunkering services in the northern atolls of the nation. A pilot boat and a tug boat has been brought to Kulhudhuffushi City by MPL. The government is exerting maximum efforts to launch the services on August 20.
Aiming to start bunkering services in the nation, a term sheet has been signed with a multinational energy and commodity trading company, Vitol Bunkers. The project, in collaboration with Vitol Bunkers, recognises the Maldives as a key global bunkering destination, positioning the country prominently on the world bunkers map.
MPL has played a pivotal role in commencing the bunkering services in the northern region of the nation. It has provided a tug boat and a pilot boat to provide assistance to the vessels arriving and docking in the harbours. The captains and the crews of the boats were warmly welcomed by the Chief Executive Officer (CEO) of MPL Mohamed Wajeeh Ibrahim and some officials from the company's management.
The ongoing final preparations include the development of an administrative office. MPL said that works to establish the office are ongoing at a face pace, and is expected to be completed by August 15.
Bunkering refers to the process of supplying fuel to vessels. The Maldives is strategically located in proximity to two major shipping routes, resulting in a significant demand for bunkering services. Therefore, providing bunkering services will significantly benefit the nation, significantly contributing to economic growth.
The project is carried out in two phases. The first phase will provide off-port bunkering services, which will require physical infrastructure. In the first phase, the services will be provided to vessels which dock in the atolls. The second phase includes a development of a port. The government affirmed that the port will be developed such that it will ensure the provision of all other necessary services.
While efforts are underway to expand the economic growth, the government has taken several initiatives to ensure that the northern islands are a key economic hub which contributes to the nation's overall economic development.