BRAC Bank-financed BD's largest oil tanker set for maiden voyage today

An ocean-going Aframax oil tanker, the largest newly-built vessel registered under the Bangladeshi flag and financed by BRAC Bank, is set to embark on its maiden voyage today.
Named MT Omera Liberty, the tanker is owned by MJL Bangladesh PLC, a concern of East Coast Group. Measuring 250 metres in length, the vessel has a carrying capacity of up to 115,000 tonnes of fuel oil, says a press release.
The commissioning ceremony took place at Daehan Shipbuilding in South Korea on March 25. The event was attended by Azam J. Chowdhury, Chairman of East Coast Group; David Kim, Chairman of Daehan Shipbuilding; Toufiqul Islam, Ambassador of Bangladesh to South Korea; and Captain Minhazur Reza Chowdhury, Chief Executive Officer of MJL Shipping.
Representing BRAC Bank, Abu Sadat Chowdhury, Area Head -1, Corporate, Commercial and Institutional Banking, was also present.
BRAC Bank extended landmark financing to MJL Bangladesh for the acquisition of two ocean-going Aframax tankers-MT Omera Liberty and MT Omera Galaxy. The USD 95.77 million financing arrangement stands as the largest single-ticket foreign currency offshore term loan ever arranged by a local private bank in Bangladesh for this sector.
Commenting on the occasion, Tareq Refat Ullah Khan, Managing Director & CEO of BRAC Bank, stated: "We are proud to partner with MJL Bangladesh in financing the largest Bangladeshi-flagged oil tanker. This milestone reflects BRAC Bank's capability to deliver large-scale foreign currency financing in collaboration with global partners. Beyond strengthening maritime logistics, this initiative contributes to trade growth, energy security, and the long-term economic development of Bangladesh."
The inclusion of large oil tankers is expected to reduce foreign currency outflows for fuel transportation.