Two new ships to join BSC fleet by Nov, deal with US firm in Sep
Ships being built at Chinese shipyard
The Bangladesh Shipping Corporation (BSC) is expected to sign a memorandum of agreement with US-based Hellenic Dry Bulk Ventures by 15 September to acquire two bulk carriers worth $76.7 million (Tk935 crore).
The vessels, each with a capacity of 55,000–66,000 deadweight tons (DWT), are under construction at a Chinese shipyard. One, nearly 80% complete, is expected to be delivered by the end of September, while the second, around 50% complete, should arrive by November.
Their addition will expand BSC's fleet to seven ships, with the two vessels projected to earn Tk150 crore annually, said the corporation's Managing Director Commodore Mahmudul Malek at a press conference in Chattogram today.
Keep updated, follow The Business Standard's Google news channel
He said the corporation is also finalising the purchase of three more ships – two bulk carriers and a mid-range tanker – by December. "Being satisfied with our performance, the government has committed to financing these acquisitions, raising the fleet size to 10 by next year," he noted.
Three bids were submitted under an international tender, with Hellenic offering the lowest price while meeting over 80% of technical specifications. To ensure transparency, internationally recognised consultants and a law firm were engaged in the process.
The new vessels will feature modern technology, aerodynamic design, fuel-efficient engines, and eco-friendly features, said Malek. "Although built in China, there would be no restrictions on their operation as they are procured through a US company."
He added that this deal could support the government's tariff waiver discussions with the US.
"This is the first time we are purchasing ships entirely with our own funds. We did not want to leave any loophole in the procurement process," he said, highlighting that BSC recorded its highest-ever profit in FY24 and expects to surpass it this year.
Founded on 5 February 1972, BSC began operations with the MV Banglar Doot and expanded its fleet to 44 ships at its peak. However, decades of mismanagement reduced the fleet to just two vessels by 2018.
The corporation began recovering in 2018–19 with six new ships bought under a Tk1,500 crore loan from China, raising the fleet to eight. Subsequent setbacks – including the missile-hit MV Banglar Samriddhi in Ukraine in 2022 and the scrapping of two fire-damaged tankers in 2023 – reduced it back to five.
