Bangladesh to acquire 12 container ships after 30yr
Published: 19 February 2025, 9:24:31
After a three-decade hiatus, the Bangladesh Shipping Corporation (BSC) is set to purchase 12 cellular boxships, each capable of carrying 2,500 to 3,000 twenty-foot equivalent units (TEUs).
According to a report by the UK-based maritime news platform The Loadstar, this acquisition marks Bangladesh’s entry into the regional container shipping market and signals BSC’s return to the sector after nearly 30 years. Currently, BSC operates eight wet and dry bulk carriers, with its last container ship operation dating back to the 1990s.
BSC’s Managing Director, Commodore Mahmudul Malek, confirmed that the procurement process is already underway. Six of these vessels will be financed under a government-to-government loan agreement with South Korea, with an estimated cost of approximately $313 million.
“The South Korean government’s Economic Development Cooperation Fund (EDCF) will provide the funding once the loan is approved,” Malek stated. “BSC has already signed an agreement under EDCF, and a feasibility study is currently being conducted. Once completed, the loan approval process will move forward.”
He further mentioned that the ships could be built by South Korean shipbuilders such as Daesun Shipbuilding or Hyundai Heavy Industries.
Details on the procurement of the remaining six container ships are yet to be disclosed. Additionally, BSC plans to acquire two more bulk carriers, along with two additional bulk carriers and two crude oil tankers in a separate purchase initiative.
Bangladesh’s import-export trade volume exceeded $130 billion in the 2023–24 fiscal year. However, recent political unrest has disrupted supply chains.
As of last week, the container congestion rate at Chattogram, the country’s main seaport, surged to 57.5%, nearly double what it was just two weeks prior. This backlog has slowed cargo unloading operations, primarily due to a strike by key motor and trailer operators at the port since February 4.
