The Maldives is poised to launch its new bunkering service on May 20, 2024, a development expected to significantly enhance the nation's economic landscape. Preparations for this service are well underway, with the recent arrival of key vessels and coordination with various stakeholders.

The Maldives has commenced the process of bringing in boats essential for the start of the bunkering service. Notably, the second boat, which will facilitate the service, has been successfully docked at Kulhudhuffushi. This addition marks a crucial step in establishing the infrastructure needed for the new service.

Yoosuf Shah, a media official from STO (State Trading Organization), confirmed the launch of the second boat, emphasizing that its presence in Kulhudhuffushi will contribute positively to the country’s foreign exchange reserves and economic growth. The introduction of the bunkering service is anticipated to generate substantial economic benefits, including increased revenue and expanded business opportunities for state-owned enterprises, private companies, and individual entrepreneurs.

Heena, involved in the preparations, highlighted the collaborative efforts with STO, MPL (Maldives Ports Limited), and other relevant entities to ensure a smooth rollout. The service is set to offer 14 additional services to international customers, thereby broadening the Maldives' market reach.

With over 300 Gin Argu boats operating daily near Ihavandhipolhu, the government is optimistic that the new bunkering service will attract significant foreign investment, potentially injecting millions of dollars into the Maldivian economy. The launch represents a strategic move to boost the country's economic infrastructure and enhance its appeal as a regional maritime hub.

According to the government, more than 300 Gin Argu boats ply every day near Ihavandipolhu. The government believes that with this service, millions of dollars will enter the country's economy.