Dhaka: Chief Adviser Professor Muhammad Yunus has underlined the importance of maintaining the profitability of the Bangladesh Shipping Corporation (BSC), emphasizing that it must continue to be a robust and financially successful entity. The Chief Adviser made these comments during an event at the State Guest House Jamuna, where he received a cheque amounting to Taka 203.47 crore from the BSC, as reported by the Chief Adviser's Press Wing.
According to Bangladesh Sangbad Sangstha, the cheque was presented by Shipping Adviser Brigadier General (Retd) Dr. M Sakhawat Hussain and BSC Managing Director Commodore Mahmudul Malek. This payment is part of the installments under the Subsidiary Loan Agreement (SLA) for loans taken for six ship-purchase projects, alongside the government's share from dividends for the fiscal year 2024-2025.
During the occasion, Prof Yunus highlighted the need for strategic future planning to bolster the corporation's revenue and facilitate the addition of new ships to its fleet. He pointed out that expanding the fleet would enhance motivation among seafarers and create new employment opportunities. Moreover, Prof Yunus emphasized the importance of retaining trainers at marine academies by offering appropriate honorariums to ensure the production of world-class seafarers.
Commodore Mahmudul Malek elaborated on the project's background, mentioning a Loan Agreement signed on October 14, 2016, between the Government of Bangladesh and the Government of China for the procurement of six ships for BSC. This project included three new product oil tankers and three new bulk carriers, each with a capacity of approximately 39,000 DWT. The loan, amounting to 1,199,999,070 Chinese Yuan or Taka 14,576,798,785, was facilitated through a subsequent SLA signed on October 27, 2024, between the Finance Division and BSC.
He further disclosed that BSC is set to repay a total of Taka 2,425.02 crore to the Government of Bangladesh over 13 years. In line with the SLA, a cheque for Taka 475,25,13,340, representing interest during the grace period, was handed over to the Chief Adviser on November 26, 2024.
BSC officials noted that the project enabled the addition of six commercial ships to its fleet after a 27-year gap during the 2018-19 period. Five of these ships are actively engaged in international trade, proudly flying the national flag of Bangladesh.
The BSC achieved its highest revenue in its 54-year history last fiscal year, generating nearly Taka 800 crore and a record profit of Taka 306.56 crore, largely due to the contributions of the new ships. Following the Chief Adviser's directives, BSC has initiated several steps to procure additional ships, including two bulk carrier vessels, with the first, Banglar Pragati, already in operation and the second, Banglar Nobojatra, scheduled for delivery this year.
Furthermore, BSC is working on acquiring two MR product oil tankers with government financing and an Ultramax bulk carrier with its own funds. Plans are also underway to procure four large vessels from China on a government-to-government basis, along with other ship acquisition initiatives.