Bangladesh Shipping Corporation (BSC) is on the way to turning loss-making into a profitable organization, the main reasons for which are adding new ships and removing old and unprofitable ships
BSC has purchased new ships with its own funds, which will increase annual income and increase the capacity of the organization. These new ships will help replace the old corrupt fleet in addition to creating employment.
According to BSC, they currently have 5 modern ocean-going ships in their fleet. A new ship was purchased from China with its own funds this month. Another ship will be added to the fleet in December. These two ships will generate an additional income of about 200 crore taka per year and will gradually create employment for more than 150 sailors. There are plans to add three more new ships by 2026, two of which will be completely 'Green Ship' standard tankers. At the same time, four 'Friendship Ships' will be added with the help of China. BSC is working to add a total of 22 ships to its fleet in the next five years. Currently, BSC handles only 9 percent of the country's total seaborne transport, which the company aims to increase to 25 percent by 2030.
BSC earned about Tk 500 crore in the fiscal year 2024-25, which is 30 percent more than last year. It has saved about Tk 250 crore in foreign exchange by reducing its dependence on foreign ships.
Main reasons for turning from losses to profits:
New ships: A new ship named 'MV Banglar Pragati' was recently added to the fleet. It will earn more than Tk 100 crore.
Replacement of old ships: BSC, which once operated with only 5 ships, is now gradually increasing its fleet, which is an effort to remove old and unprofitable ships.
Revenue growth: The two new ships are expected to generate an additional income of about Tk 200 crore annually.
Employment generation: The new ships will create employment for about 150 seafarers in phases.
Capacity building of the organization: With the addition of new ships to the fleet, the organization is becoming stronger and more efficient.
Corruption control: Although BSC was once mired in corruption, this situation is changing through new initiatives.
It is known that that since independence, the fleet of 38 ships had once come down to only 5. During the Awami League government, there was a commotion all over the country about buying new ships. But BSC was in a profit deficit. However, times have changed. Now the organization is moving forward on the path of setting a new example in the shipping sector of Bangladesh.
BSC Managing Director (MD) Commodore Mahmudul Malek said, 'We have the potential to earn more than 200 crores from our new Tuti ships. In addition, there is a process to buy three more ships by 2026. In the next five years, we want to take BSC to such a position that it never becomes a loss-making organization again. We are trying our best to establish BSC as a profitable organization among government and private organizations. BSC carries the national pride of the country.'
