Does Bangladesh Need to Extend Its Maritime Commercial Fleet?

• Bangladesh has a unique opportunity to leverage its strategic location in the Bay of Bengal to boost its maritime trade and global competitiveness.
• The Bangladesh Shipping Corporation (BSC) recently expanded its fleet to seven vessels by acquiring two new cargo ships using entirely self-generated funds.
• Strengthening the national fleet is critical for reducing reliance on foreign carriers, retaining freight earnings, and ensuring food security.

Recent Performance and Financial Gains

• BSC invested approximately BDT 934 crore to acquire two new vessels, Banglar Progoti and Banglar Nobojatra, from China without relying on external financing.
• In the 2024–25 fiscal year, BSC achieved its highest net profit in its 54-year history at Tk306.56 crore, a 23% year-on-year increase.
• Revenue for the 2024–25 fiscal year rose by 33.39% to Tk798.28 crore, reflecting strong operational performance.

Strategic Importance of Fleet Expansion

• Over 90% of Bangladesh’s international trade by volume moves by sea, yet the majority is carried by foreign firms, costing the country an estimated US$6–8 billion annually in freight charges.
• A larger national fleet would retain more earnings domestically, boost foreign exchange reserves, and provide greater strategic control over supply chains.
• National vessels are vital for securing the import of essential commodities—such as rice, wheat, and fertilizer—during periods of global instability or supply chain disruptions.
• Expanding the fleet supports the "blue economy" by maximizing the utility of Bangladesh’s 118,813 square kilometer maritime area and improving the efficiency of Chattogram Port, which handles 90% of the country's seaborne container traffic.