The Maldivian Bunkering Sector Makes its Debut

Introduction

The Maldives has introduced international bunkering services in Ihavandhippolhu Atoll in North Maldives on 19 September 2024.

On the eve of the inauguration, Maldives Customs Service published their 14th Amendment to Customs General Regulation (Regulation No. 2024/R-87) which seeks to regulate the newly established sector.

5 Highlights from the 14th Amendment to Customs General Regulation

1. What are bunkering services?

• Fueling vessels with import-duty exempt fuel, and

• Fueling internationally sailing vessels with both import duty-paid fuel and import duty-exempt fuel.

2. Who can provide bunkering services?

• Bunkering service providers that have received approval from relevant government institutions to provide bunkering services.

3. Whose presence is required during bunkering services?

4. How do bunkering service providers receive import duty exemption?

• By registering a floating bond or facility at Maldives Customs Service.

  • Bunkering service providers can store fuel imported for bunkering at a registered floating bond or facility for 90 days without paying import duty.

5. When are bunkering service providers required to pay import duty?

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