Written by The Banking Post
Bangladesh Shipping Corporation has paid Tk 2.03 billion to the government, covering loan instalments and dividend payouts linked to six ship acquisition projects under the Ministry of Shipping.
The payment, made through a cheque handed over to the Chief Adviser of the interim government, includes repayments under a subsidiary loan agreement as well as the government’s share of dividends declared by BSC for fiscal year 2024–25.
The vessels were procured under a government-to-government arrangement to add three product oil tankers and three bulk carriers, each with a capacity of about 39,000 deadweight tonnes. The original loan agreement was signed in October 2016 with China Exim Bank for 1.2 billion yuan, equivalent to about Tk 14.58 billion.
To service the loan, the Finance Division and BSC signed a subsidiary loan agreement in October 2024, under which the state-owned carrier will repay a total of Tk 24.25 billion over 13 years. Interest accrued during the grace period amounted to Tk 475.3 million, which BSC had already paid in November last year.
The six ships were added to BSC’s fleet in 2018–19, marking the first fleet expansion in 27 years. Five of them are now operating in international trade, carrying cargo on global routes under the Bangladeshi flag.
BSC officials said the vessels have significantly strengthened the corporation’s finances. In its 54-year history, BSC posted its highest-ever performance in the last fiscal year, generating about Tk 8.0 billion in revenue and recording a net profit of Tk 3.06 billion.
Building on this momentum, BSC has moved to further expand its fleet. Under self-financing, it has acquired two bulk carriers—Banglar Pragati, already in commercial operation since October 2025, and Banglar Nabojatra, due for delivery later this month.
Plans are also in place to procure two medium-range product oil tankers with government financing and one ultra-max bulk carrier using BSC’s own funds. In addition, preparations are underway to acquire four more large vessels, including mother vessels, from China on a government-to-government basis as part of a broader expansion strategy.
