Written by The Banking Post
The state-owned Bangladesh Shipping Corporation (BSC) will invest Tk 9.5 billion from its own funds to acquire two brand-new vessels, a move the company expects will boost annual revenue by 25 per cent.
The procurement plan was disclosed in a filing with the Dhaka Stock Exchange (DSE) on Thursday. According to the statement, the BSC board approved the Tender Evaluation Committee’s recommendation on August 6 to purchase the ships from China for around USD 78 million. The proposal is now awaiting final clearance from the Advisory Committee on Government Procurement.
“If approval is granted, the vessels will join our fleet in the first and second quarters of FY26,” said BSC Managing Director Commodore Mahmudul Malek, noting that this will be the first time in the corporation’s 54-year history that two brand-new ships are being acquired entirely with internal funds.
Malek added that the procurement process took nine months, involving supplier assessment, price negotiations, and securing the most favourable deal available.
Following the announcement, BSC shares dropped 3.94 per cent to Tk 119.5 on Thursday. Despite the dip, the stock had climbed over 37 per cent since July 2.
BSC has maintained profitability despite setbacks, including the loss of two ships to fire last year. The company posted a Tk 2.5 billion net profit in FY24, up 1.4 per cent year-on-year, alongside a Tk 2.5 per share dividend. For the first nine months of FY25, revenue stood at Tk 4.30 billion, with a net profit of Tk 2.19 billion.
Founded in 1972, BSC is Bangladesh’s national flag carrier, operating mainly on international shipping routes and transporting goods such as ready-made garments and crude oil. The corporation currently operates five ocean-going vessels, including bulk carriers and oil/chemical tankers.
