The first fuel bunkering service at the North Uligan International Ship and Port Security Gate in northern Maldives has officially begun, with the service being launched at HA. Hoarafushi.

The event was attended by Economic Minister Mohamed Saeed, other Cabinet Ministers, and Members of Parliament from Haa Alif Atoll.

Key figures such as STO Managing Director Shimad Ibrahim and MPL CEO Mohamed Wajeeh Ibrahim were also present.

This fuel bunkering service, initiated by the State Trading Organization (STO) in collaboration with Vitol, a global energy trading company, will operate offshore on a temporary basis.

STO MD Shimad Ibrahim mentioned that the government plans to dredge land to support the long-term sustainability of this service.

Floating bunkering services were launched using the 3,258-tonne MT Marine Angel and the 3,929-tonne MT Marine Bella, with plans for storage in the area to support future service expansion.

STO’s bunkering service currently supports 300 vessels per month throughout the Maldives, serving ships en route to various global destinations.

Despite challenges in the competitive market, STO asserts that the bunkering industry will remain profitable, even if operating at just 1% capacity, ensuring its sustainability.