The Maldives is gearing up to launch its new bunkering service on May 19, with bookings already underway. The State Trading Organization (STO) has confirmed that all necessary preparations and coordination with government authorities have been completed.

The service will kick off with the YC Barrier, a vessel operated by STO's subsidiary, MSS. This ship, capable of transporting 200 tons of crude oil per month and up to 1,100 containers, was previously stationed in Colombo, Sri Lanka, due to the Maldives' previous lack of low-sulfur fuel oil.

STO is optimistic about the potential for growth and market expansion with the new service. In addition to the YC Barrier, STO has introduced two more vessels: one with a capacity of 4,000 metric tons of crude oil and another with a 3,200 metric tons capacity.

Currently, over 300 Gin Argu boats operate daily near Ihavandhipolhu in northern Maldives but must travel to Colombo or Indian ports for bunkering services due to the absence of local options. The new service is expected to fill this gap and is anticipated to contribute $400 million to the Maldivian economy in its first year.