Maldives Economic Gateway Bunkering Service Generates $7.5 Million

Since its launch on September 18, 2024, the international bunkering service at the Maldives Economic Gateway has generated an impressive USD 7.5 million in revenue, according to Economic Minister Mohamed Saeed. Over the course of five months, the service brought in MVR 114 million (approximately USD 7.4 million).

A significant portion of this revenue, around 95%, was earned from the supply of Very Low Sulphur Fuel Oil (VLSFO), a product previously unavailable in the Maldives. Minister Saeed highlighted the growing demand for VLSFO and other bunkering services, which has steadily increased since the service's introduction.
Offshore bunkering services are being provided in the Ihavandhippolhu zone in partnership with Maldives Ports Limited (MPL), with the State Trading Organization (STO) responsible for fuel supply. Diesel is mainly supplied to yachts and luxury vessels, while cargo and container ships receive VLSFO.

The service is carried out by two vessels, the MT Marine Angel and MT Marine Bella, both built to international safety and environmental standards. The government is now focusing on enhancing the legislation and regulatory frameworks to support the further growth of the bunkering sector.