China's Exim Bank has offered to finance procurement of four more ships for Bangladesh Shipping Corporation (BSC) which is hamstrung by shortage of necessary vessels amid growing shipment, officials said.
The BSC is almost in the final stage of preparation for signing financial deal with the Chinese bank for procumbent of six other vessels.
The 'keel-laying' programme of the six vessels was held late last month in Jiangsu Yangzijiang shipyard.
Sources said China Petroleum Technology and Development Corporation (CPTDC) came up recently with the proposal to supply four vessels to the BSC. It also submitted a consent letter to the corporation from the Exim Bank about its interest to bankroll the buy.
The CPTDC proposed supply of two oil tankers and two container vessels to the BSC. The mother tankers will have the capacity of 100,000 to 125,000 deadweight tonnage (DWT).
Recently, the CPTDC requested the BSC to sign memorandum of understanding (MoU) on the purchase of vessels.
"To further finalise the project to a deeper cooperation stage, we suggest a MoU to be signed between your esteemed company and CPTDC, so that it would be faster and more convenient for each party in the following cooperation," general manager of CPTDC wrote in a recent letter.
The BSC signed a commercial deal with China National Machinery Import and Export Corporation (CMC) on April 30, 2014 for buying three bulk carriers and as many oil tankers at a cost of US$184.50 million. This deal will also be funded by the Chinese Exim Bank.
The Economic Relations Division (ERD) is now negotiating financial deal with the bank for the procurement.
When contacted, BSC Managing Director H R Bhuiyan told the FE Tuesday that the corporation had set a target to procure 21 vessels by 2021 in line with government's Vision-2021 that envisages higher economic growth for the country's graduation into a higher status.
The Ministry of Shipping (MoS) has approved the projection and steps are there to meet the goal, he said.
"Apart from Chinese companies, we have received proposals from many other countries, including Turkey and Korea, as they are also interested to supply vessels," said Mr Bhuiyan.
These proposals need to be scrutinised to find which are suitable for the country, he said, adding: "We also have to follow public procurement act while advancing for materialising the proposals."
The MD said BSC is really in need of vessels to carry out its responsibility. It is now running with very small number of carriers.
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