Bangladesh Shipping Corporation (BSC) has secured approval for the Bangladesh Shipping South Korea deal, a $330M project aimed at enhancing global trade. This Bangladesh Shipping South Korea deal will involve acquiring six container vessels to boost BSC’s global trade capabilities.

With a capacity of 2,500-3,000 twenty-foot equivalent units (TEUs) each, the ships will cost $330.32 million, the company said in a disclosure on the Dhaka Stock Exchange (DSE) website today.   

Shares of BSC rose 1.97 percent to Tk 88 in the morning trade on the DSE. 

A concept paper has been signed with Korea’s Economic Development Cooperation Fund (EDCF), which is currently conducting a feasibility study.

The project’s execution depends on EDCF’s final approval, said BSC. 

The BSC has also initiated a separate project to procure six additional vessels with capacities between 2,800 and 3,000 TEUs each, the disclosure added.

_{Source: The Daily Star}