The Financial Express

BSC receives first vessel from China

| Updated: July 31, 2018 11:51:07

BSC receives first vessel from China

Bangladesh Shipping Corporation (BSC) has received the first of the six new vessels from China and added to the fleet of the state-owned operator.

The first ship namely “M.V. Banglar Joyjatra”, which was built in China has already been handed over by the New Yang G Shipyard Authority of China, said an official disclosure posted on the Dhaka Stock Exchange website on Monday.

“The ship has started towards Bangladesh with cargos after engaging in trades from different ports,” said the disclosure.

Moreover, phase by phase, the remaining five ships will be added in the fleet of BSC within February 2019, the disclosure said.

The rest--Banglar Samriddhi, Banglar Arjan, Banglar Agrajatra, Banglar Agradoot and Banglar Agragoti— are set to deliver on August 25, December 18, November 2, December 18 this year and February 14 next year.

Of the six vessels, three are oil tankers and the rest freighters. Each of the vessels is of 39,000 deadweight tonnage (DWT).

The total cost of the project is Tk 18.43 billion. China will provide financial assistance for the purchase under a government-to-government concessional loan.

The shipping corporation officials expressed hope of saving a huge amount of foreign currency once all six ships will add in the fleet of BSC.

BSC, which was listed on the Dhaka bourse in 1977, disbursed 10 per cent cash dividend for the year ended June 30, 2017.

Each share of the state-run company closed at Tk 42.20 on Sunday at the Dhaka Stock Exchange.

The company’s paid-up capital is Tk 1.52 billion and authorised capital is Tk10 billion while the total number of securities is 152.53 million.

The government owns 52.10 per cent in the BSC, while the institutional investors own 21.10 per cent and the general public 26.80 per cent as on May 31, 2018, the DSE data shows.

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