In a milestone move, Bangladesh Shipping Corporation (BSC) will purchase two bulk carriers with Tk 900 crore from its own funds. This is the first time the state-owned firm is financing ship purchases without any foreign loans or grants, marking a shift toward stronger independence and financial strength. According to company sources, BSC has completed necessary paperwork and will soon issue a global tender for the two vessels. Each ship will have a deadweight capacity of around 56,000 tonnes, suitable for transporting heavy cargo like coal, cement, and fertilizer. Shipping Minister Khalid Mahmud Chowdhury noted during BSC’s recent Annual General Meeting that this purchase is part of a broader plan to increase the fleet to 21 vessels. Currently, BSC operates around seven ships, including both bulk and oil tanker types. The two new bulk carriers funded entirely from BSC’s budget reflect a deliberate effort to reduce dependence on foreign loans and strengthen self-reliance. In 2023, BSC purchased four vessels under foreign credit: two crude oil tankers and two bulk carriers through China’s Export–Import Bank . Now, using its own reserves demonstrates improved cash flow and a solid financial position, even as it responds to growing national demand. The addition of bulk carriers expands BSC’s freight capacity, supporting national trade and key infrastructure projects such as power and fertilizer plants. The vessels will also be available for charter, offering an income stream when not engaged in domestic cargo movement. Industry experts say that buying ships with its own funds reduces costs and simplifies procurement. It cuts out loan interest, currency risk, and delays, helping BSC operate more efficiently and boost earnings. While BSC’s fleet upgrade is still underway, the corporation also aims to return to container shipping—an area it left in the 1990s. Plans are in place to acquire 12 container vessels, partly funded by a South Korean government loan. This new strategy aligns with Bangladesh’s efforts to expand maritime trade and build stronger logistics support. A larger domestic fleet means the country relies less on foreign-chartered vessels, which can be costly and harder to control. Traders, port operators, and manufacturers view this change as a positive development. With a more capable national fleet, shipping should become more reliable and affordable, helping the country maintain smooth trade flows. The procurement is expected to be completed by late 2025 or early 2026, depending on tender response and delivery timelines. Once the two bulk carriers join the fleet, BSC will be in a stronger position to support national trade goals and global competitiveness.
