Tk 203.47 Crore Deposited to Government Exchequer BSC’s Ship Acquisition Project, Loan Repayment and a Comprehensive Picture of Profitable Progress

Md. Kamal Uddin    |    ০৯:২০ পিএম, ২০২৬-০১-১৪

 Bangladesh Shipping Corporation (BSC), a state-owned enterprise under the Ministry of Shipping, has set a new benchmark in the country’s maritime trade and economic landscape. As part of loan repayment for its six-ship acquisition project and the government’s dividend entitlement for the FY 2024–2025, BSC has formally handed over a cheque worth Tk 203.47 crore to the Honorable Chief Adviser of the Government of the People’s Republic of Bangladesh. The payment was made in accordance with the Subsidiary Loan Agreement (SLA), covering both installment repayments and declared dividends. This initiative reflects BSC’s strong financial discipline and commitment to meeting its obligations, serving as a positive example for other state-owned enterprises.
G-to-G Acquisition of Six Ships: Project Background To strengthen its fleet and ensure active participation in international maritime trade, BSC undertook the project titled “Acquisition of Six New Ships.” Under this initiative, six modern vessels—comprising three Product Oil Tankers and three Bulk Carriers, each with a capacity of approximately 39,000 DWT—were procured on a government-to-government (G-to-G) basis. For implementation of the project, a Loan Agreement (LA) was signed on 14 October 2016 between the Government of Bangladesh (Economic Relations Division) and the Government of China, represented by the China Exim Bank. The principal loan amount was 1,199,999,070 Yuan, equivalent to approximately Tk 1,457.68 crore. Loan Repayment Framework and SLA
To ensure timely and structured repayment of the loan obtained from the Chinese government, a Subsidiary Loan Agreement (SLA) was signed on 27 October 2024 between the Finance Division of the Ministry of Finance and BSC. Under this agreement, BSC will repay a total of Tk 2,425.02 crore to the government over a period of 13 years. As per the SLA, a cheque amounting to Tk 475.25 crore, representing interest accrued during the grace period, was officially handed over to the Honorable Chief Adviser on 26 November 2024. The latest transfer of Tk 203.47 crore, covering installments and dividends, marks another significant milestone in the loan repayment process. New Ships After 27 Years: Return to the International Market Through this project, BSC added six modern commercial vessels to its fleet during FY 2018–2019, marking the first major fleet expansion in 27 years. This development significantly enhanced the presence of Bangladesh’s state-owned fleet in international maritime trade. Out of the six acquired vessels, five ships are currently engaged in commercial operations across international sea routes. These include: MV Banglar Joyjatra MV Banglar Arjon
MT Banglar Agrojatra MT Banglar Agrodut MT Banglar Agroti These vessels are actively transporting cargo worldwide while proudly flying the national flag of Bangladesh. Record Revenue and Profit: Best Performance in 54 Years As a result of continuous growth and efficient management, BSC achieved its highest-ever financial performance in its 54-year history during the most recent fiscal year. Total revenue: approximately Tk 800 crore Net profit: Tk 306.56 crore The five vessels acquired under the project played a crucial role in achieving this remarkable profit, driven by consistent and lucrative commercial operations in the international market. Future Plans: A New Horizon for Fleet Expansion Guided by the directives of the Honorable Chief Adviser, BSC has already undertaken several initiatives to further expand its fleet. Under full self-financing, two bulk carriers are being acquired—of which the first vessel, “Banglar Progoti,” has already entered commercial service, while the second, “Banglar Nobojatra,” is scheduled for delivery as per the set timeline. In addition, initiatives are underway to acquire two MR Product Oil Tankers through government financing and one Ultramax Bulk Carrier through BSC’s own funds. Moreover, plans have been adopted to procure four additional large vessels (mother vessels) from China on a G-to-G basis as part of a long-term fleet expansion strategy. Conclusion With consistent loan repayments, regular contributions to the government exchequer, record revenues, and forward-looking investment plans, Bangladesh Shipping Corporation has emerged as a profitable, capable, and confident state-owned enterprise. BSC’s ongoing progress is set to further strengthen Bangladesh’s position in international maritime trade, contributing significantly to both the national economy and the country’s pride.