Shipping Corp's new vessel Banglar Progoti set to reach Chattogram on maiden voyage

Bangladesh Shipping Corporation's newly added self-financed vessel MV Banglar Progoti set to arrive in Chattogram next week on its maiden voyage, marking a rare bright spot for the once-struggling state-run carrier.

MV Banglar Progoti, handed over to BSC on 23 October after construction at China's Nanyang Shipyard, is expected to anchor at the outer anchorage of Chattogram Port on 20 November. 

The vessel is currently carrying 61,500 tonnes of slag imported for local cement factories. It left China's Dandong Port on 4 November under charter by Hong Kong-based LTE, which is operating the ship at a daily rate of 20,000 dollars while Seacom Shipping Lines Limited is acting as its local agent.

The vessel is currently carrying 61,500 tonnes of slag imported for local cement factories/ Collected

BSC Managing Director Commodore Mahmudul Malek told The Business Standard that the voyage feels symbolic. 

Although a foreign operator is deciding the ship's routes and cargo, its first call at Chattogram "feels like coming home," he said. 

He described the acquisition as a major milestone, pointing out that this is the first time in BSC's five-decade history that the corporation has purchased a vessel entirely with its own funds. It is also the largest ship ever added to the fleet.

The 199-metre bulk carrier has a capacity of 63,777 tonnes. On arrival, it will anchor off Kutubdia to begin lightening before moving closer to the port to offload the remaining cargo. 

The vessel will not be able to berth at a jetty because of its size, Seacom Shipping's Director Jahur Ahmed confirmed.

BSC acquired Banglar Progoti and another vessel, Banglar Nobojatra, for Tk936 crore through competitive bidding from US-based Hellenic Dry Bulk Ventures LLC. 

As both ships were under construction or nearing completion, BSC was able to bring the first into its fleet in just five months. The second is expected to join soon.

Once home to 44 ships following its launch in 1972, BSC saw its fleet collapse over decades of mismanagement, shrinking to just two vessels by 2018. 

Six new ships purchased with Chinese financing in 2018 and 2019 revived the fleet, but losses continued. 

The number dropped again in 2022 after a rocket strike at Ukraine's Olvia Port destroyed MV Banglar Samriddhi, and two ageing tankers were sold as scrap last year after fire damage.

With Banglar Progoti joining, BSC's fleet now stands at six vessels, three product tankers and three bulk carriers. 

The arrival of Banglar Nobojatra will raise the count to seven. None of the ships currently in operation are considered old.

Commodore Malek said the two new vessels together are expected to generate around Tk150 crore in annual revenue.