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The state-owned Bangladesh Shipping Corporation (BSC) is going to invest Tk 9.5 billion from its own funds to purchase two brand-new ships, which it estimates will increase revenue by one-fourth.
The decision was disclosed in a stock exchange filing on Thursday.
"If we receive final approval from the Advisory Committee on Government Procurement, the two vessels will be added [to the fleet] in the first and second quarters of FY26," said BSC Managing Director Commodore Mahmudul Malek.
"This marks a historic milestone for the company, as it is the first time in 54 years that we are acquiring two brand-new vessels entirely with our own funds," he added.
According to the company's filing, the board of directors approved on August 6 the tender evaluation committee's recommendation for the procurement of the vessels from China for approximately USD 78 million.
The proposal has been submitted to the Advisory Committee on Government Procurement for final clearance.
"We've been working on this for the past nine months-exploring suppliers with ready inventory, negotiating prices, and ultimately securing the best deal available," said the managing director over the phone.
Following the announcement, BSC's share price declined 3.94 per cent to Tk 119.5 per share on the Dhaka Stock Exchange on Thursday. However, the stock had surged by more than 37 per cent to Tk 124.4 per share since July 2 through Wednesday.
Despite the loss of two vessels to fire incidents last year, BSC's profitability and dividend payouts continued to rise. The company posted a net profit of Tk 2.5 billion for FY24, up 1.4 per cent from the previous year, and declared a dividend of Tk 2.5 per share.
In the first nine months of FY25, BSC reported Tk 4.30 billion in revenue and Tk 2.19 billion in net profit. The company is yet to release its full-year financial results.
Established in 1972, the Bangladesh Shipping Corporation is a state-owned autonomous entity that serves as the national flag carrier. It primarily operates on international shipping routes, transporting goods such as ready-made garments and crude oil.
At present, BSC operates five ocean-going vessels, comprising a mix of bulk carriers and oil/chemical tankers.
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