With funding from the Export-Import Bank of China, the BSC has planned to buy the ocean-going mother vessels – two crude oil tankers and two bulk carriers.
Under a government-to-government arrangement, the Chinese bank has agreed to lend Tk 24.86 billion while the BSC will spend Tk 1.34 billion from its own coffer for the total Tk 26.20-billion project.
After receiving approval of the Executive Committee of the National Economic Council (ECNEC), the ministry of shipping recently issued an administrative order in this regard.
The China National Machinery Import and Export Corporation or CMC was nominated by the Chinese authorities as the contractor for the supply of the ships. The CMC will build the ships at a Chinese shipyard.
After getting necessary approval from the cabinet committee on government purchase, the BSC would sign a contract with the Chinese company, CMC.
An approval from the China International Development Cooperation Agency will then be required before signing a loan agreement between the BSC and the ExIm Bank, officials said.
The BSC has a very small fleet of eight vessels, mainly bulk carriers and oil and chemical tankers, but does not have container vessels.
The corporation has plans to launch container feeder service, short sea service, and even a main line vessel service by securing vessels.
Contacted on Tuesday, BSC managing director Commodore Ziaul Hoque told the FE that necessary documents have been sent to the shipping ministry to place before the cabinet committee on government purchase for approval.
He said the CMC will supply the vessels to the BSC this time, too. Last time the Chinese company had supplied six ships – three oil tankers and three product carriers having capacity of 39,000 deadweight tonnage (DWT) each.
“We plan to complete the keel-laying of ships by September next,” said Mr Hoque.
He said the corporation has only a few vessels and acquiring more is necessary to carry out business competently.
