STO Commences Official Shipping Line

Saturday 28th of March 2020

STO Commences Official Shipping Line

State Trading Organization announces Maldives State Shipping Company Private Limited (MSS) as the newest addition to STO's group of companies. MSS has 99.9% shares of STO and 00.1% of Fuel Supplies Maldives Private Limited.

On 25th March, Maldives President Ibrahim Mohamed Solih, confirmed the subsidiary act during the press conference held to update the island nation’s overall situation amid the COVID-19 outbreak.

The purpose of this subsidiary company is to import goods through a local company at the lowest price. STO’s Managing Director Hussain Amr highlighted on the importance of holding ownership of the country’s own shipping line; especially during times of heavy economic pressure and setback point out to the current economic condition due to the viral pandemic’s outbreak.

The first ship will be arriving in the country within the coming week. Officials of STO present at the press conference revealed the new state-based subsidiary’s logo will corroborating President Solih’s statement, adding the container vessel is bound to Maldives in the upcoming week.