Bangladesh Shipping Corporation (BSC) has ushered in a new era in the nation’s maritime economy with the addition of two modern bulk carriers purchased with its own funds. These vessels are now earning an average of 20,000 US dollars a day, a development hailed as a milestone both for the state-owned corporation and the country’s overall economy.
At present, charter rates for Supramax and Ultramax class bulk carriers range between 16,000 and 30,000 dollars per day. Against this global backdrop, BSC’s vessels are bringing in steady daily earnings that amount to nearly Tk 1.5 billion annually in foreign currency. For years Bangladesh had to rely on foreign-flagged ships, spending significant sums in charter fees that drained valuable reserves. The earnings from these new vessels are not only retaining part of that outflow at home but also strengthening the country’s foreign exchange reserves and boosting BSC’s financial independence.
The addition of the ships has also created new opportunities for employment. Around 150 sailors and crew members will work on these vessels each year on a rotational basis. This will help Bangladeshi seafarers acquire international-standard experience and sharpen their skills to compete more effectively in the global maritime industry. The impact of the initiative is therefore both economic and social, extending beyond revenue to long-term human resource development.
Encouraged by the success, BSC has already started the process of acquiring three more ships with government financing, with hopes of continuing future purchases through its own earnings. This would further enhance Bangladesh’s role in the global chartering market while strengthening its commitment to adopting modern, environmentally friendly technologies in shipping. The country’s national fleet now stands at 102 vessels, giving Bangladesh greater visibility and credibility in the international maritime arena. Experts believe that with its strategic location in the Indian Ocean, Bangladesh is well positioned to emerge as a significant regional trade hub and advance its blue economy ambitions.
BSC’s managing director, Commodore Mahmudul Malek, described the achievement as a turning point, saying the vessels have not only created a sustainable income stream but also raised Bangladesh’s profile in the world’s shipping industry. Economists too have welcomed the development, terming it a historic step for the country’s maritime economy.
With daily earnings proving the competitiveness of Bangladesh-flagged vessels in global trade, the initiative is being seen as a landmark moment that combines financial resilience, social progress, and strategic potential—an achievement that sets a new course for the nation’s economic future.
FP/MI
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