MALE, April 6 (Xinhua) -- The Maldives has launched its own national shipping line to ensure a steady and affordable flow of imports, local media reported here Monday.
The MV Iberian Express, a cargo ship with a 700 container capacity carrying food and medicine, was welcomed with a water salute on Sunday, marking the launch of Maldives State Shipping (MSS).
The launch ceremony was held with the participation of MSS Managing Director Abdulla Saeed, STO Director Hussain Amr and officials from Maldives Port Limited and Maldives Customs Service.
MSS Managing Director Abdulla Saeed said that the launch of a national shipping line would be a boon to the Maldivian economy and reduce the Maldives' dependency on other countries for imports during the COVID-19 pandemic.
The MSS is expected to reduce the price of imports to the Maldives and therefore improve the profit margins of local traders. MSS is also expected to generate significant revenue for parent company the State Trading Organisation (STO).
Maldives' first national shipping line was shut down eight years ago due to bankruptcy.
