It is a fact that the geographical location of Bangladesh added extra fuel to survive this geopolitical rivalry in South Asia. Undoubtedly, the existence of the Bay of Bengal around Bangladesh not only facilitates its survival matters militarily but also economically. The Bay of Bengal, through which more than 2.6 million vessels transit annually, is one of the world’s most strategically significant maritime corridors. For Bangladesh, this presents a unique opportunity to strengthen its position in global trade and maritime commerce. Against this backdrop, the Bangladesh Shipping Corporation’s decision to acquire two new ocean-going vessels was a timely and strategic investment. While the addition appears modest in numerical terms, it represents an important step toward expanding the country’s commercial fleet, reducing dependence on foreign shipping, retaining more freight earnings within the national economy, and enhancing Bangladesh’s long-term maritime competitiveness.
By Md. Al-Amin
Before advocating for the expansion of Bangladesh’s maritime commercial fleet, it is essential to assess where the country stands today. At present, the Bangladesh Shipping Corporation (BSC) operates seven ocean-going commercial vessels , up from just five in 2018–19. This modest but meaningful expansion reflects a renewed commitment to strengthening the country’s maritime transport capacity. In a landmark achievement, BSC purchased two new cargo vessels—Banglar Progoti and Banglar Nobojatra—from China through an international competitive bidding process at a cost of approximately BDT 934 crore. More importantly, this was the first time since the corporation’s establishment in 1972 that BSC had financed the acquisition of ocean-going vessels entirely from its own resources, rather than placing its surplus funds in fixed deposits or savings certificates. One vessel entered service last year, while the second joined the fleet in February this year. Although seven vessels remain far from sufficient for a country whose international trade depends overwhelmingly on sea transport, these acquisitions signal a strategic shift in Bangladesh’s maritime policy . They strengthen the country’s shipping capacity, reduce reliance on foreign carriers, retain more freight earnings within the national economy, and lay the foundation for a stronger and more resilient maritime trading nation. The challenge now is to build on this momentum by expanding the fleet further to match Bangladesh’s growing trade ambitions.
Why does its effectiveness need to be enhanced? The expansion of Bangladesh Shipping Corporation’s (BSC) fleet has already delivered tangible financial benefits. In the second quarter of the current fiscal year, the state-owned shipping company recorded a 21% year-on-year increase in revenue , while maintaining strong profitability. During the July–December period, BSC generated Tk330 crore in revenue and Tk136.23 crore in profit, with an earnings per share (EPS) of Tk8.93. These figures demonstrate that investing in the national fleet not only strengthens Bangladesh’s maritime transport capacity but also enhances the corporation’s ability to generate sustainable revenue and contribute to the national economy.
In FY2024–25, Bangladesh Shipping Corporation (BSC) achieved the highest net profit in its 54-year history since its establishment in 1972. The state-owned shipping company posted a net profit of Tk306.56 crore, marking a 23% year-on-year increase, while its revenue rose 33.39% to Tk798.28 crore, reflecting its strong operational and financial performance.
Expanding Bangladesh’s ocean-going commercial fleet would significantly reduce transportation costs, improve trade efficiency, strengthen foreign currency earnings, and enhance food security. Currently, around 90% of Bangladesh’s international trade by volume is carried by sea. Yet, only a small portion is transported by Bangladeshi-flagged vessels, resulting in the country paying an estimated US$6–8 billion annually in freight charges to foreign shipping companies. A larger national fleet would retain a greater share of these earnings within the domestic economy, boosting foreign exchange reserves while reducing dependence on foreign carriers. It would also improve the efficiency and reliability of exports and imports by ensuring smoother logistics and reducing delays. Moreover, during global crises or supply chain disruptions, a stronger national fleet can secure the uninterrupted import of essential commodities such as rice, wheat, edible oil, and fertiliser, thereby reinforcing Bangladesh’s food security and economic resilience.
Bangladesh Shipping Corporation’s (BSC) investment in new vessels through its own financing is crucial for strengthening the country’s blue economy and maritime competitiveness, as Bangladesh has a 118,813 square kilometre maritime area in the Bay of Bengal . With over 90% of Bangladesh’s international trade by volume carried by sea and Chattogram Port handling around 90% of seaborne container traffic, expanding the national fleet would improve port efficiency, reduce shipping times, and ensure more reliable trade. It would also reduce dependence on foreign carriers, giving Bangladesh greater strategic flexibility in managing trade, maritime policy, and supply chain disruptions.
Bangladesh currently has around 101 large ocean-going vessels operating in international trade, most of which are owned by private investors. These ships transport essential commodities, including crude oil, coal, wheat, and other bulk cargoes. If the Government of Bangladesh expands its own ocean-going fleet to carry these goods, it could bring significant economic and strategic benefits to the country. Such an initiative would strengthen Bangladesh’s maritime capacity, increase national revenue, reduce dependence on foreign shipping, and enhance the country’s position in global trade. Thereby safeguarding Bangladesh’s long-term maritime economic interests, reinforcing self-reliance, ensuring sustainable financial planning, and reestablishing Bangladesh as a stronger player in global maritime trade.
Md. Al-Amin is an educator. He completed his post-graduation from the Department of International Relations at Rajshahi University, Bangladesh. His research interests are Diplomacy, Foreign policy, Border conflicts, and Security issues.
