Maldives State Shipping (MSS) has established itself as the main shipping business in the Maldives’ maritime industry. By purchasing the largest cargo vessel, MSS will have the largest fleet by tonnage when compared to the STO-owned 2004 built MT Alimas (Chemical & product tanker).
MSS has made the decision to acquire their second cargo vessel in order to meet their objectives and become a more dominant player in the region. They have opted to diversify their ongoing activities by buying a bulk carrier with a capacity of 43000 DWT. The vessel was planned to be added to their fleet in mid-April and to dock in the Maldives in May 2022.
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MSS’s intention to operate a bulk carrier will greatly benefit the Maldivian economy by lowering the cost of importing construction materials to the Maldives. By acquiring the largest cargo vessel in the Maldives, MSS will be able to keep millions of dollars of foreign cash in the Maldives that would otherwise be remitted overseas for such shipments.
Historically, the Maldives was recognized to have the region’s largest shipping fleet, and MSS is eager to restore this reputation.