Uncared for, Bangladesh Shipping Corporation (BSC) fleet dwindles to almost nothing

Initially boasting 44 ships, the BSC’s numbers dwindled to just two by 2018. While six new vessels were added in 2019, the fleet has remained static for the past five years.

In 2022, the vessel BanglarSamriddhi was abandoned following a rocket attack at the Port of Olvia in Ukraine.Recently, on 30 September, the lighter vessel MT BanglarJyoti was severely damaged in an explosion and fire at Chattogram port, resulting in three fatalities.Concerns were raised over whether this 37-year-old ship could be reintegrated into the fleet. Another vessel, MT BanglarShourabh, also aged 37, has raised safety questions regarding oil transportation following the BanglarJyoti incident.

Industry insiders say the private sector in Bangladesh’s shipping industry has advanced considerably.Since 2018, the number of Bangladeshi ocean-going vessels has surged by 79. Before 2018, there were only 23 Bangladeshi-flagged vessels.The enactment of the Bangladesh Flag Vessels (Protection of Interest) Act, 2019, has spurred private investment, resulting in the number of ocean-going vessels surpassing 100 by 2024.

Captain SabbirMahmud, principal officer at the Chattogram Mercantile Marine Office, said that 102 registered Bangladeshi-flagged ocean-going vessels are currently active, with two more awaiting registration.

Stakeholders in the shipping industry estimate that the market for transporting Bangladeshi import and export goods by sea is valued at nearly $500 million, with the majority benefiting foreign ship owners.With various mega-projects underway around the ports, such as the Matarbari Deep-Sea Port and the Bay Terminal, stakeholders assert that the Corporation must expand its fleet swiftly to enhance foreign currency earnings and create job opportunities in the sector.

Syed Mohammad Arif, chairman of the Bangladesh Shipping Agents Association, said, “Private investment in Bangladesh’s global shipping industry has increased in recent years, but the Shipping Corporation has not made similar progress. We hope the Corporation implements its plans for purchasing new ships on time.”Bangladesh Shipping Corporation Managing Director Commodore MahmudulMalek told TBS, “Bureaucratic complications and political instability are the main reasons hindering the recovery of the industry’s poor situation.

The investigation committee recommended that BSC urgently establish a Single Point Mooring system with a double pipeline to handle crude oil unloading. It also advised forming a technical committee to assess the suitability of the remaining lighter vessels.BPC faces potential delays and costs

The Bangladesh Petroleum Corporation’s oil unloading operations are currently at risk due to a shortage of vessels.