The Bangladesh Shipping Corporation (BSC) has finalized a significant agreement to purchase two new ships from Hellenic Dry Bulk Ventures LLC, a U.S.-based firm, for $76.69 million. This landmark deal, which marks BSC’s first acquisition financed entirely with its own funds, was confirmed during a board meeting held on September 17. The ships, currently under construction in China, are expected to be delivered by November.
Details of the Acquisition
On August 12, the cabinet committee on government purchase approved the procurement of two bulk carriers, each boasting a carrying capacity of 63,500 deadweight tonnage (DWT). The decision to acquire these vessels underscores BSC’s commitment to expanding its fleet and enhancing its operational capabilities. The ships will be constructed at Nanyang Shipyard in China, and their delivery is anticipated within the next few months.
This acquisition is particularly noteworthy as it represents a shift in BSC’s financing strategy. Previously reliant on external funding, the state-owned company is now utilizing its own resources for this purchase. Currently, BSC operates a fleet of five vessels, which includes two bulk carriers and three chemical and oil tankers. The company has reported a positive financial outlook, with a profit of Tk 75.50 crore in the third quarter of the fiscal year 2024-25, reflecting a 10 percent increase compared to the previous year. This growth is attributed to rising revenue from higher fares and vessel sales.
| Read More: Marsa Ocean Shipping's JSS service added to Jeddah Islamic Port |
As of August 31, 2025, the government holds a 52.10 percent stake in BSC, while institutional investors own 21.34 percent, and general investors possess the remaining 26.56 percent, according to data from the Dhaka Stock Exchange. Established in 1972, BSC plays a vital role in supporting Bangladesh’s trade through its shipping operations, and this latest investment is expected to further strengthen its position in the industry.
