The newly formed subsidiary act under the State Trading Organization (STO) umbrella has commenced its operations on official capacity.
Maldives President Ibrahim Mohamed Solih, confirmed the initiation of Maldives State Shipping during the press conference on Wednesday to highlight on the updates of the COVID-19 developments.
President Solih confirmed the first ship under STO's sister company is expected to arrive in Maldives within the coming week.
Officials present at the press briefing had also revealed the new state-based company's logo, while corrobrating President Solih's statement.
STO's Managing Director Mr Hussain Amr asserted on the importance of Maldives holding right of ownership on the country's very own shipping line; especially during times of severe economic distress.
The Maldives government's initiative comes as means to facilitate the means of shipping in order to import necessary items to the country; with full consideration into any possible hindrances from third-party shipping liners during the current situation.
Meanwhile, Maldives government has decided to fully liquidate Maldives National Shipping Limited (MNSL) - the previous shipping liner corporation - following its insolvency.
