The Bangladesh Shipping Corporation (BSC) has taken a move to buy ten mother vessels to carry an entire load of fuel oil for Bangladesh Petroleum Corporation (BPC) and coal for power plants to be established in the country, officials said.
The procurement of four new mother product oil tankers, each having a minimum of 80,000 deadweight tonnage (DWT), will cost a total of US$ 185 million and six new mother bulk carriers, each having equivalent capacity, will also cost US$ 185 million, they added.
The BSC has recently sent a preliminary development project proposal (PDPP) in this connection to the ministry of shipping (MoS) to submit it before the Planning Commission for approval.
"We have informed the ministry about our needs of vessels to import fuel oil and coal from abroad. Now the government offices concerned will look for funds," BSC Managing Director H R Bhuiyan told the FE Sunday.
He said a memorandum of understanding (MoU) has already been signed between the BSC and Bangladesh-India Friendship Power Company (Pvt) Ltd (BIFPCL) to carry coal for Rampal Power Plant which is now under construction.
Besides, the mother vessels will be needed for carrying petroleum fuel oil for BPC once the single point mooring (SPM) is built. The SPM will be built in the Bay of Bengal from where petroleum products will be carried through pipelines from mother vessels to onshore oil storage tanks.
"The BSC had a golden past that is now gone due to lack of vessels. We are now trying to retrieve the past glory," Mr Bhuiyan said.
Asked whether these mother vessels will carry oil or products for other countries he said these vessels will be needed only to carry oil for BPC and coal for local power plants.
Presently, the BSC has a mixed fleet of five vessels having carrying capacity of nearly 0.076 million tonnes. The fleet comprises one container vessel, two multipurpose cargo vessels and two lighterage tankers.
BSC officials in the PDPP said more than 90 per cent of the national export and import of Bangladesh are being carried by ocean-going vessels. The flag protection law provides Bangladesh with flag vessels to carry minimum 50 per cent cargo of export-import of the country.
But at present, they said, Bangladesh flag vessels have a little share while the foreign vessels carry a lion's share of export and import of goods for the country. As a result, the country has been losing a significant amount of foreign currency as freight.
"In order to save foreign currency as well as reduce dependence on foreign vessels and also to meet trade demand and earn money, development of this sector by acquiring more ships is essential," the PDPP noted.
Officials said BSC is also buying three bulk carriers and three oil tankers at a cost of US$184.50 million with Chinese funds to make its fleet stronger. Signing of a financial contract with Chinese Exim Bank in this regard is under process.
Established in 1972, the BSC is entrusted with the responsibility of carrying bulk cargo, food grain and crude oil, chartering, tramping and feeder services, unloading and providing agency service and ship repairing.
