- Maldives has signed a term sheet agreement with Vitol.
- The partnership aims to position the Maldives as a significant bunkering hub.
- The bunkering hub will be established in Ihavandhippolhu Atoll.
Shimada Ibrahim, the Managing Director of the State Trade Organization of the Maldives, has signed a term sheet agreement with Vitol.
The agreement aims to establish a bunkering hub in Maldives, emphasizing international collaboration, reports Safety4Sea.
Strategic Objectives
The partnership aims to position the Maldives as a significant bunkering hub in the Indian Ocean.
Additionally, it seeks to enhance the Maldives’ technical expertise in the bunkering industry.
Location and Importance
The bunkering hub will be established in Ihavandhippolhu Atoll, strategically chosen for its crucial role in the government’s economic expansion plans.
Ihavandhippolhu Atoll is designated as the Maldives Economic Gateway, set to accommodate various maritime activities, including an international port and a strategic oil terminal.
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Source: Safety4sea
