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The government has taken various initiatives to make state-run Bangladesh Shipping Corporation (BSC) more profitable by improving its service standard.
Currently, the organisation has three vessels only-- MT Banglar Joyti, MT Banglar Sourov and MV Banglar Shikha-- in its fleet. Of them, two are crude oil literage tankers and one is container carrying vessel.
The three decades old vessels cannot go to sea due to rules of the International Maritime Organisation (IMO).
According to an official document, the Shipping Ministry has taken an initiative to procure six vessels, having 39,000 deadweight tonnage (DWT) capacity each, with financial assistance from China. Of them, three will be oil tankers and three bulk careers, a UNB report says.
Sources at the ministry said these new ships will be added to BSC by 2018.
The ships will be procured from China National Import and Export Machineries Corporation (CMC) at a cost of Tk 18.43 billion. Of which Tk 14.48 billion will come from the Chinese government as loan while the rest of Tk 3.95 billion will come from BSC's own fund.
The three oil tankers will be used for transporting imported and refined petroleum of Bangladesh Petroleum Corporation (BPC) and the bulk carriers for carrying coal for power stations, fertiliser and other materials.
A financial agreement for procuring the six new ships from China was signed during Chinese President Xi Jinping's visit to Bangladesh last year.
The six vessels will be added to the fleet between May and December next year.
The document said the procurement of one 38,000 DWT capacity oil/chemical, crude oil tanker is at the final stage.
It stated that a process is underway by the Shipping Corporation to induct two new mother tankers from 1,00,000 to 1,25,000 DWT capacity each, 10 new bulk carriers with 10,000 to 15,000 DWT capacity and two new mother bulk carriers (coal carrying) having at least 80,000 DWT capacity each.
The document also mentioned that there is a plan to procure two new minimum 40,000-CBM capacity LNG carriers, four new container ships with 1,200 to 1,500 TUES each, two new mother product oil tankers (for diesel carrying) with 80,000 DWT capacity each and two new chemical/crude Oil tanker with capacity of 30,000 to 35,000 DWT.
The BSC already inked a deal with the Chinese Institute of Marine and Offshore Engineering for the construction of two 40,000-cbm LNG carriers.
According to the Memorandum of Understanding, the two vessels will serve the country's first LNG import terminal at Moheshkali, owned by Petrobangla.
The BSC has procured a total of 38 ships since 1972 and after 1991 it did not go for vessel procurement. But it had to sell 35 of them as their operational validity expired.
The BSC made a net profit of Tk 67.2 million in 2015-16. Its board has recommended 12 per cent stock dividend for the last fiscal year.
The government owned 52.10 per cent shares of the corporation as of September 30, while institutional investors owned 20.40 per cent and public 27.50 per cent, according to the Dhaka Stock Exchange website.