B Mirror Report: Bangladesh Shipping Corporation (BSC) is moving forward with a plan to procure two modern product oil tankers at an estimated cost of Tk 14.66 billion, aiming to enhance the country’s fuel import capacity and reduce dependence on foreign vessels.

According to officials at the Planning Commission, each tanker will have a capacity of 40,000 to 55,000 deadweight tonnes (DWT). Once operational, the vessels are expected to increase refined oil import capacity by around 0.1 million tonnes annually, raising the corporation’s overall fleet capacity by more than 50 per cent.

A Project Evaluation Committee (PEC) meeting has been scheduled for April 2 to review the proposal. The meeting will be chaired by Kabir Ahamed, head of the Physical Infrastructure Division.

The project is projected to generate an annual profit of approximately Tk 1.25 billion, while also saving about US$10 million in foreign exchange by cutting reliance on foreign-flagged ships. Additionally, the vessels are expected to contribute nearly Tk 400 million annually in port-related revenues.

Officials said the proposed tankers will be capable of transporting a wide range of liquid cargo, including refined petroleum products and light chemicals, though not crude oil or heavy chemicals.

Currently, BSC operates only three oil tankers, each with a capacity of about 39,000 DWT, along with two bulk carriers. The limited fleet has led to increased reliance on foreign vessels for transporting liquid fuels.

Shipping ministry sources noted that the original plan was to procure three vessels at a cost of Tk 20.61 billion. However, due to financial constraints, the plan was revised to acquire two ships under government funding, with a third to be financed by BSC.

The tankers will mainly carry refined fuels such as petrol, diesel, kerosene and aviation fuel, which are crucial for Bangladesh’s energy, industrial and transport sectors.

Despite around 90 per cent of the country’s trade being conducted via sea routes, BSC currently operates only five ocean-going vessels. Experts suggest that at least 25 to 30 ships are required to meet national demand, highlighting a long-standing gap in the country’s shipping capacity.

The total project cost includes Tk 12.99 billion for vessel acquisition, while the remaining funds will cover management, logistics, consultancy, legal services and other related expenses.

As part of the evaluation process, the PEC is expected to seek detailed explanations regarding cost estimates, including allocations for consultancy, bank charges and overseas travel.