Written by The Banking Post
State-owned Bangladesh Shipping Corporation (BSC) is set to acquire two new bulk carriers from US-based Hellenic Dry Bulk Ventures LLC for $76.69 million, according to a disclosure on the Dhaka Stock Exchange (DSE) on Thursday.
The vessels, each with a carrying capacity of 63,500 deadweight tonnes (DWT), are being built at Nanyang Shipyard in China and are expected to be delivered by November.
This is the first time BSC will finance a major ship purchase entirely from its own funds. The decision was approved at a board meeting on September 17, following the cabinet committee on government purchase’s green light on August 12.
Currently, BSC operates five vessels—two bulk carriers and three chemical and oil tankers.
The state-run company reported a Tk 75.50 crore profit in the third quarter of FY2024-25, a 10% rise from a year earlier, driven by higher freight rates and vessel sales.
As of August 31, the government owned 52.10% of BSC shares, with institutional investors holding 21.34% and the remaining 26.56% owned by general investors, DSE data shows.
Founded in 1972, BSC continues to play a vital role in supporting Bangladesh’s trade through its shipping fleet.
