Economic Development, Transport and Trade Minister Mohamed Saeed has stated that bunkering services have generated USD 80 million in revenue for the Maldives so far.

Speaking at a press conference at the President’s Office today, Minister Saeed said the revenue is additional income generated for the country and is expected to increase as the service expands.

He said the bunkering service, launched in September 2024, provides fuel to vessels travelling through Maldivian waters using a dedicated offshore vessel.

Minister Saeed noted that monthly revenue from the service has been increasing, with a significant share generated from the recently introduced sale of low-sulphur fuel oil.

The service was launched in partnership with Vitol, a company with international experience in providing bunkering services.