Bangladesh Shipping Corporation (BSC), under the Ministry of Shipping, has handed over a cheque amounting to BDT 203.47 crore to the Honorable Chief Adviser of the Government of the People’s Republic of Bangladesh, Dr. Muhammad Yunus. The amount represents repayment of loan installments taken for the purchase of six vessels, along with the government’s receivable dividend for the FY 2024–2025.
At the cheque handover ceremony, Brigadier General (Retd.) Dr. M. Sakhawat Hossain, Adviser to the Ministry of Shipping and the Ministry of Labour and Employment, was present along with Commodore Mahmudul Malek, Managing Director of BSC, senior executives, secretaries, and project directors.
In accordance with the signed Subsidiary Loan Agreement (SLA), the combined amount of loan installments and declared dividends was paid to the government through this single cheque.
Under a G-to-G (Government-to-Government) arrangement, a project titled “Procurement of Six New Vessels (three Product Oil Tankers of approximately 39,000 DWT each and three Bulk Carriers)” was implemented for BSC. To finance the project, a Loan Agreement was signed on 14 October 2016 between the Government of Bangladesh (Economic Relations Division) and the Government of China (China Exim Bank).
The principal loan amount was CNY 1,199,999,070, equivalent to approximately BDT 1,457.68 crore. Subsequently, on 27 October 2024, a separate Subsidiary Loan Agreement (SLA) was signed between the Finance Division of the Government and BSC to facilitate loan repayment.
Under this agreement, BSC will repay a total of BDT 2,425.02 crore to the Government of Bangladesh over a period of 13 years.
Earlier, in accordance with the SLA, a cheque of BDT 475.25 crore—representing interest accrued during the grace period—was formally handed over to the Honorable Chief Adviser on 26 November 2024.
It is noteworthy that after nearly 27 years, six modern commercial vessels were added to BSC’s fleet during FY 2018–2019 through this project. At present, five vessels—MV Banglar Joyjatra, MV Banglar Arjan, MT Banglar Agrojatra, MT Banglar Agrodut, and MT Banglar Agroti—are actively engaged in international maritime trade, proudly carrying the national flag of Bangladesh.
In BSC’s 54-year history, the corporation recorded its highest-ever performance in the most recent fiscal year, earning approximately BDT 800 crore in revenue and achieving a net profit of BDT 306.56 crore. Officials have attributed this remarkable success largely to the vessels acquired under the project.
Following directives from the Honorable Chief Adviser, BSC has already undertaken several initiatives to acquire additional vessels. Under full self-financing, two bulk carrier vessels are being procured:
Banglar Pragati was delivered and entered commercial operation on 28 October 2025.
Banglar Nobojatra is scheduled for delivery on 30 January 2026.
In addition, plans are underway to procure two MR Product Oil Tankers with government financing, one Ultramax bulk carrier with self-financing, and four large mother vessels from China under a G-to-G arrangement.
Stakeholders believe that the successful implementation of these initiatives will further strengthen BSC’s capacity in the maritime transport sector and make a significant contribution to the national economy.
FP/MI
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