The government has planned to buy two large oil tankers at a cost of Tk1,457.80 crore to reduce its dependence on foreign vessels for transporting imported fuel, a move officials say could strengthen energy security and save foreign currency.
The project, initiated by state-owned Bangladesh Shipping Corporation (BSC), is scheduled to be placed before the Executive Committee of the National Economic Council (Ecnec) on Wednesday for approval.
The two tankers will have a capacity of 40,000-55,000 deadweight tonnes (DWT) each.
The move comes as Bangladesh’s fuel supply chain remains dependent on foreign shipping capacity. The country currently imports around 40 lakh tonnes of fuel annually by sea, but domestic vessels can carry only about 23 lakh tonnes, leaving a significant gap that is filled by foreign operators.
Shipping Secretary Md Zakaria told TIMES of Bangladesh that the two new vessels would increase Bangladesh’s own fuel transportation capacity to around 36 lakh tonnes annually.
“Once the two new vessels are added, dependence on foreign ships for fuel transportation will reduce significantly. At the same time, BSC’s fleet size and the country’s maritime transport capacity will increase,” he said.
According to the project proposal, the tankers are expected to play a strategic role beyond commercial operations. The vessels would help ensure uninterrupted fuel transportation, expand BSC’s shipping capacity and reduce foreign currency outflows from vessel rentals.
The project is also expected to strengthen BSC as a commercial shipping entity by generating revenue through regular operations, increasing government income and creating opportunities for foreign currency savings.
The proposal also highlights potential benefits in developing skilled manpower, expanding seafarer training opportunities and creating direct and indirect employment.
Of the total project cost, around Tk1,300 crore has been earmarked for purchasing the two tankers.
Other major costs include Tk8.56 crore for management, Tk8.46 crore for general equipment, Tk43 lakh for consultancy services, Tk1.98 crore for legal expenses and Tk4.32 crore for bank charges. Costs related to logistics, supervision and foreign travel for vessel acquisition are also included.
The supplier country has not yet been selected. Shipping Secretary Zakaria said the vessels would be purchased through an open tender after project approval in line with government procurement rules.
Currently, BSC operates seven ocean-going vessels, including three oil tankers and four bulk carriers. Officials said the fleet is inadequate compared with national requirements, forcing Bangladesh to rely on foreign vessels not only for fuel but also for other imported goods.
A BSC official said the company’s role is also linked to national security. During emergencies such as wars, conflicts or global supply disruptions, private shipping operators may not always be available to transport sensitive and essential cargo.
Despite being the country’s only state-owned shipping company, BSC does not have enough vessels to meet strategic requirements, the official said.
The Planning Commission has recommended the project, saying it would increase BSC’s fleet size and cargo transport capacity while improving commercial performance, government revenue generation and employment opportunities.
The tanker purchase comes alongside rising costs in other energy and power-related projects due mainly to exchange-rate pressures.
The cost of the DESCO area electricity infrastructure expansion and strengthening project is proposed to rise by Tk627 crore, or 27.6 per cent, to Tk2,899.72 crore from Tk2,272.48 crore.
Of the increase, Tk565.29 crore is attributed to foreign exchange rate changes, while higher construction interest, extended project duration and market price increases account for the remaining rise.
The project, originally scheduled for completion by March 2026, is now proposed to be extended by two years until March 2028.
Meanwhile, the cost of a 100MW solar power project in Madarganj, Jamalpur is proposed to increase by Tk101.84 crore, mainly due to exchange-rate fluctuations.
The project delay has been linked to the July 2024 mass movement, suspension of contractor payments and flooding. Its completion deadline has been extended to 30 June 2027 from August 2025.
As of May 2026, the solar project had achieved 38.44 per cent financial progress and 56.15 per cent physical progress.
