Written by The Banking Post
Chief Adviser Muhammad Yunus on Wednesday asked the Bangladesh Shipping Corporation (BSC) to maintain its profitability and use its own earnings to strengthen the institution and expand its fleet, after the state-owned carrier posted nearly Tk 8 billion in revenue in FY25.
He gave the directive at a ceremony where BSC handed over a cheque of Tk 2.03 billion to the interim government, covering loan repayments for ship acquisition projects and dividends payable to the state for the fiscal year.
“We must plan in a way that the corporation’s own income strengthens the institution further and allows the fleet to expand with new vessels,” Yunus said, adding that a larger fleet would boost seafarer morale and create more jobs.
He also stressed the need to retain qualified instructors at marine academies through proper remuneration to ensure the supply of globally competitive seafarers.
BSC Managing Director Commodore Mahmudul Malek said six vessels were acquired under a government-to-government arrangement, comprising three product oil tankers and three bulk carriers, each with a capacity of about 39,000 deadweight tonnes.
The ship acquisition was financed through a loan agreement signed in October 2016 with China Exim Bank, involving a principal amount of 1.19 billion yuan, equivalent to about Tk 14.57 billion. A subsidiary loan agreement signed in October 2024 requires BSC to repay Tk 24.25 billion to the government over 13 years.
The corporation has already paid Tk 4.75 billion as interest during the grace period, with the cheque handed over in November last year.
The six vessels, inducted into the fleet in FY19 after a 27-year gap, have significantly boosted BSC’s operations. Five of them are currently operating on international routes under the Bangladeshi flag.
According to official data, BSC earned nearly Tk 8 billion in revenue and posted a record profit of Tk 3.06 billion in FY25, the highest in its 54-year history.
Following the chief adviser’s directive, BSC has moved to expand its fleet further. Under a self-financed plan, a new bulk carrier, Banglar Progoti, began commercial operations in October last year. Another vessel, Banglar Nobojatra, is scheduled for delivery on January 30, 2026.
The corporation is also planning to acquire two MR product oil tankers through government financing, one Ultramax bulk carrier using its own funds, and four larger vessels from China under a government-to-government arrangement.
