Chief Adviser Professor Muhammad Yunus has said Bangladesh Shipping Corporation (BSC) must remain a strong and profitable organisation.
He made the observation on Wednesday at a ceremony marking the handover of a cheque amounting to Tk 203.47 crore to the government, representing instalment payments under a Subsidiary Loan Agreement (SLA) taken to procure six vessels, as well as the government's share of dividends for the 2024-25.
The projects were implemented by BSC under the Ministry of Shipping.
The cheque was formally handed over to the Chief Adviser at the state guest house Jamuna by Shipping Adviser M Sakhawat Hossain and BSC Managing Director Commodore Mahmudul Malek.
The Chief Adviser said future planning should ensure that the corporation's own income further strengthens the organization and enables the addition of new vessels to its fleet. He said expanding the BSC fleet would boost morale among seafarers and create new employment opportunities.
He also emphasized the need to retain instructors at marine academies by providing them with appropriate remuneration so that they can produce world-class seafarers.
Speaking on the occasion, Commodore Mahmudul Malek said under a government-to-government (G2G) arrangement, six new vessels were procured for BSC; three new oil tankers and three new bulk carriers, each with a capacity of about 39,000 DWT.
For this purpose, a loan agreement was signed on October 14, 2016, between the Government of Bangladesh (Economic Relations Division) and the Government of China (China Exim Bank) involving 1,199,999,070 yuan loan which is equivalent to Tk 1,457.68 crore. Subsequently, on October 27, 2024, another Subsidiary Loan Agreement was signed between the Finance Division of the government and BSC to facilitate repayment of the loan. Under this arrangement, BSC will repay a total of Tk 2,425.02 crore to the government over a period of 13 years.
In line with the signed SLA, a cheque amounting to Tk 475.25 crore, representing total interest accrued during the grace period, was formally handed over to the Chief Adviser on November 26, 2024.
After a long gap of 27 years BSC added these six new commercial ships to its fleet in the 2018-19 periods under the project. Of the six vessels, five-MV Banglar Joyjatra, MV Banglar Arjan, MT Banglar Agrajatra, MT Banglar Agrodut, and MT Banglar Agrogati-are currently engaged in commercial cargo transportation in international waters, proudly flying the national flag of Bangladesh.
Notably, in its 54-year history, BSC recorded its highest-ever profit in the last fiscal year, earning nearly Tk 800 crore in revenue and achieving a net profit of Tk 306.56 crore. The five vessels added to the fleet under the project played a significant role in this continued progress.
