A cheque for Tk 475.25 crore has been handed over as the first installment of the loan for the six-ship purchase project implemented by Bangladesh Shipping Corporation (BSC). According to the signed Subsidiary Loan Agreement (SLA), the cheque was handed over to Chief Advisor Dr Muhammad Yunus by Brigadier General (Retd) M Sakhawat Hossain, Advisor to the Ministry of Shipping.
The cheque was presented to the Chief Advisor at Jamuna, the official residence of the Chief Advisor, on Tuesday evening.
Advisor to the Ministry of Finance and the Ministry of Science and Technology Dr Salehuddin Ahmed, Senior Secretary of the Ministry of Shipping Mohammad Yusuf, and Managing Director of BSC Commodore Mahmudul Malek were present at the time.
Managing Director Commodore Mahmudul Malek confirmed the matter at a press conference on Wednesday afternoon. Senior BSC officials were also present at that time.
A loan agreement was signed between the government's Economic Relations Department and China Exim Bank on 14 October in 2016 for the six new ship purchase project for BSC on a G2G basis. Among them, three are oil tankers and three are bulk carriers. The principal amount of the loan is 119 crore 99 lakh 99 thousand 70 yuan, which is Tk 1 thousand 457 crore 67 lakh 98 thousand 784 in Bangladeshi currency. Another Subsidiary Loan Agreement (SLA) was signed between the Finance Department and BSC on 27 October this year to repay the loan. According to the agreement, Tk 2 thousand 425 crore will be repaid to the Finance Department and the Ministry of Finance of the government from BSC within the next 13 years.
According to the signed SLA agreement, a cheque of Tk 475 crore 25 lakh 13 thousand 340, representing the total interest during the grace period, has been handed over to the Chief Advisor.
A press release from the Ministry of Shipping said that six commercial ships were added to BSC’s fleet in 2018-19, 27 years after the last ship was acquired through the project. Of the six ships acquired under this project, five (MV Banglar Joyjatra, MV Banglar Arjan, MT Banglar Agrajatra, MT Banglar Agradoot, and MT Banglar Agragoti) are currently engaged in commercial activities related to cargo transportation in the international maritime environment, proudly carrying the flag of Bangladesh.
It is mentionable that BSC achieved the highest profit of Tk 250 crore in the last fiscal year in its 53-year history. The role of the newly acquired five ships has been crucial in this progress. In addition, BSC has already planned to purchase several new ships.
BSC has already planned to procure additional ships, including four more large ships (mother vessels) and four medium-sized ships (two new 40,000 DWT oil tankers and two new 40 to 50 thousand DWT bulk carriers) from China on a G2G basis. Necessary activities have been undertaken as per the decision of the 322nd meeting of the BSC Board of Directors to procure two bulk carrier ships with complete self-financing.
