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STO Bunkering Venture Generates MVR 124 Million Since Launch
State Trading Organization (STO) reported MVR 124 million in revenue from its bunkering operations since the service launched in September 2024, announced by CEO and Managing Director Shimad Ibrahim at the company's 2024 Annual General Meeting on Saturday. The service, run in partnership with Vitol, aims to establish the Maldives as a regional maritime bunkering hub and was initially projected to contribute up to US$400 million annually to the economy.
Sources1carried itMR1 of 19 news outlets we monitor
Figures5as written, with their sentences
One outlet so far Only Maldives Republic has reported this among the sources we monitor. A gap in what we monitor, not proof that others did not report it.
How the reporting differs
one source so far
Maldives RepublicNews outlet
STO Bunkering Venture Generates MVR 124 Million Since Launch
MVR 124 million Revenue from bunkering operations since launch
Nothing to compare yet. If another monitored source reports it, its headline appears beside this one.
Figures in these reports
as written, with the sentence they come from
MVR 124 millionRevenue from bunkering operations since launchMaldives RepublicThe State Trading Organization (STO) has generated MVR 124 million in revenue from its bunkering operations since the service was launched in September last year
Word for word from the report in Maldives Republic. Open the report
US$400 millionProjected annual contribution to the economyMaldives RepublicInitially projected to contribute up to US$400 million annually to the economy, the project faced several delays before its official launch.
Word for word from the report in Maldives Republic. Open the report
3,258-tonneTanker capacity – MT Marine AngelMaldives RepublicSTO currently operates the service using two tankers – the 3,258-tonne MT Marine Angel and the 3,939-tonne MT Marine Bella – deployed under a bareboat charter agreement.
Word for word from the report in Maldives Republic. Open the report
3,939-tonneTanker capacity – MT Marine BellaMaldives RepublicSTO currently operates the service using two tankers – the 3,258-tonne MT Marine Angel and the 3,939-tonne MT Marine Bella – deployed under a bareboat charter agreement.
Word for word from the report in Maldives Republic. Open the report
more than 300Vessel crossings in designated channelMaldives RepublicThe designated channel for the service lies along a major international shipping route, with more than 300 vessel crossings per month.
Word for word from the report in Maldives Republic. Open the report