BSC Plans to Procure 22 New Mother Vessels

Bangladesh Shipping Corporation (BSC) is preparing to procure 22 new mother vessels worth Tk 10,000 crore in a major step to bolster the country's control over its seaborne trade. The state-owned maritime operator aims to expand its fleet over the next five years, which will help reduce reliance on foreign shipping companies and create significant economic opportunities.

At present, Bangladesh has 104 Bangladeshi-flagged vessels handling just 11-12% of the national trade. With the new procurement, BSC seeks to raise this figure substantially, aiming for 40% of the nation's trade to be handled by domestic carriers. The vessels will be sourced from South Korea and China under government-to-government agreements, funded by both BSC's resources and external agreements.

The initiative is set to enhance revenue generation, create employment for seafarers, and reduce the country's foreign currency expenditure on shipping. The purchase of the vessel Banglar Pragati last October marked a historical milestone for BSC, being the first ship procured entirely through its own funds.

The fleet expansion is expected to significantly increase the corporation’s competitiveness and efficiency in international trade and import-export operations.