Vitol, a leading energy and commodities company, is excited to announce the signing of a Memorandum of Understanding with State Trading Organisation plc to establish international standard bunkering operations in the Maldives. The MoU was signed in the presence of Mohamed Saeed Shimad Ibrahim Jay Ng, signalling a significant partnership between the two entities.

As per the terms of the agreement, Vitol will supply marine fuel cargoes and provide a bunker barge to STO Maldives. Additionally, Vitol will leverage its global network to market the Maldives to its marine customers worldwide. This collaboration aims to elevate bunkering services in the Maldives to international standards, enhancing accessibility and reliability for marine customers operating in the region.

STO will play a crucial role as the physical bunker supplier at the Maldives Economic Gateway for Vitol’s strategic customers. This strategic partnership will enable both Vitol and STO to leverage their respective strengths to provide efficient and high-quality bunkering services to vessels operating in the Maldives.

The bunker facility will be situated at the Ihavandhippolhu atoll, the northernmost atoll and part of the Maldives Economic Gateway. This strategic location will facilitate seamless bunkering operations, catering to the needs of vessels traversing the region.

Through this collaboration, Vitol and STO are committed to enhancing the maritime infrastructure and services in the Maldives, positioning the country as a key hub for bunkering operations in the Indian Ocean region. This initiative underscores Vitol’s dedication to driving growth and development in emerging markets while ensuring sustainable and reliable energy solutions for its customers globally.

For more information visit www.vitolbunkers.com