State-owned BSC buys two new ships at Tk 9.4b
A new vessel will join the fleet of state-owned Bangladesh Shipping Corporation (BSC) next month, and another by December.
The BSC signed an agreement yesterday, Sunday, for the purchase of these two ships.
At present, BSC has five vessels in its fleet—three oil tankers and two bulk carriers. With the addition of two more bulk carriers, the number will rise to seven. This will also increase the total number of Bangladeshi-flagged ships to 102.
The contract signing ceremony was held yesterday at Hotel InterContinental Dhaka, with Shipping Adviser M Sakhawat Hossain as chief guest. Senior Secretary of the Ministry of Shipping Mohammad Yusuf, BSC Managing Director Commodore Mahmudul Malek, and representatives of the supplying company were present.
According to BSC sources, the procurement process began in June with competitive bidding. An international tender was floated on 3 June, and two proposals were found technically acceptable. In line with this, the government’s purchase advisory council approved the proposal in the third week of August to buy the ships for Tk 9.4 billion (936 crore) from US-based Hellenic Dry Bulk Ventures LLC.
Officials said this is the first time in the country’s history that ships are being purchased with BSC’s own financing. Each vessel has a carrying capacity of 55,000–60,000 tonnes. They are expected to generate an additional annual income of Tk 1.5 billion (150 crore), while providing employment for around 150 sailors on a rotational basis.
It has also been learned that BSC has started the process of purchasing three more ships with government financing. A project proposal is being prepared, with the aim of completing the process by December.
BSC’s Managing Director Commodore Mahmudul Malek told Prothom Alo that they are targeting vessels currently under construction at shipyards.
This will allow us to quickly expand our fleet, he added.
Who owns how many ships?
BSC began seaborne cargo operations in June 1972 with the launch of MV Banglar Doot. By 1982, its fleet grew to 27 ships, peaking at 38. However, no new vessels were added after 1991.
Meanwhile, private companies now own 95 ships. Among them, KSRM Group holds the largest number with 28 ships, Meghna Group of Industries (MGI) owns 25, and Akij Shipping owns 10. By fleet size, BSC currently ranks sixth. The private fleets consist of container vessels, bulk carriers, and oil/gas tankers.
Multiple benefits of ship investment
A major portion of Bangladesh’s imports and exports is transported by sea, and the volume is rising every year. In the 2024–25 fiscal year, 130 million tonnes of cargo passed through Chittagong Port—carried by container ships, oil tankers, and bulk carriers. However, the majority was transported by foreign-flagged ships, due to the limited number of Bangladeshi vessels.
Entrepreneurs in the shipping industry point out three key benefits of investing in vessels-- saving foreign currency by transporting domestic goods, earning foreign currency by carrying international cargo, and creating employment for Bangladeshi sailors.