Shipping Corporation reports record net profit of Tk306.56cr, plans fleet expansion
BSC also plans to acquire 12 cellular container vessels, 6 of which are being built with support from the Asian Infrastructure Investment Bank
Bangladesh Shipping Corporation (BSC) has reported its highest-ever net profit in its 54-year history, posting Tk306.56 crore for the 2024–25 financial year, driven by strong operating income and disciplined expenditure management.
The figures were disclosed at the state-owned shipping company's 48th annual general meeting, held this morning (22 December) at the Officers' Club in Chattogram.
The meeting was presided over by Brigadier General (retd) M Shakhawat Hossain, adviser to the Ministry of Shipping and chairman of the BSC board.
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Presenting the annual performance report, BSC Managing Director Commodore Mahmudul Malek said, "The corporation earned Tk590.98 crore from operations during the 2024–25 fiscal year, while income from other sources stood at Tk207.30 crore. Total income amounted to Tk798.28 crore."
He added, "Operating costs stood at Tk289.92 crore, while administrative and financial expenses amounted to Tk126.45 crore, taking total expenditure to Tk416.27 crore. After tax adjustments, BSC recorded a net profit of Tk306.56 crore."
Comparing with the previous fiscal year, he noted, "In 2023–24, BSC earned Tk596.18 crore in total income against Tk311.59 crore in expenditure, resulting in a net profit of Tk249.69 crore."
On future plans, he said, "BSC is moving forward with short, medium and long-term strategies to expand its commercial fleet in line with national development goals, the SDGs and the blue economy agenda, with the aim of becoming a self-reliant and internationally competitive shipping company."
He added, "To strengthen energy security and ensure uninterrupted supply chains for crude oil, coal, food grains, cement clinker and other bulk cargo, BSC plans to acquire 2 crude oil mother
tankers with a capacity of 114,000 tonnes each and 2 bulk carrier mother vessels of 81,500 tonnes each under a G2G framework."
BSC also plans to acquire 12 cellular container vessels, 6 of which are being built with support from the Asian Infrastructure Investment Bank to meet growing global demand.
