a year ago

3 SAIF container vessels to ply Ctg-UAE route

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SAIF Powertec Ltd would deploy three container vessels on Chattogram-UAE route, the company said on Monday.

The stock market-listed company said it signed a deal with the United Arab Emirates (UAE)-based AD Port Group, the owner of Safeen Feeder Company, on Sunday.

SAIF Powertec managing director Tarafder Md Ruhul Amin said both parties entered into an agreement to deploy three container feeder vessels.

The vessels, owned by Safeen Feeders, have an estimated capacity of 1,700 TEUs (twenty-foot equivalent units) to 2,100 TEUs each.

The operator will be able to deploy these vessels on any international route (except the sanctioned countries) and globally connecting to any international destination over a period of 15 years.

The cargo freight sales revenue per vessel per annum is estimated at $20 million, reads a SAIF statement, adding that net profit per vessel per year will be $2.5 million.

Mr Amin said the vessels would make their first voyage towards Chattogram in early December. The routing for the vessels is UAE-Colombo-Chattogram-Colombo-UAE.

From the UAE ports, he added, the Bangladeshi containers would head various European destinations.

"We'll save a significant amount of foreign currency by carrying export-import containers," he Mr Amin told the FE, adding that transport time would also be saved significantly.

The annual trade volume between Bangladesh and the UAE is $1.8 billion.

The goods are mainly shipped between the two nations through transshipment ports in Singapore and Colombo, in the absence of a direct shipping service.

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