BSC to buy 6 ships for $330m to build container fleet

The Bangladesh Shipping Corporation (BSC) is set to make a significant move by purchasing six modern container ships from South Korea. The decision comes in an effort to reduce the dominance of non-Bangladeshi feeder vessels in the country’s shipping industry, which currently leads to substantial foreign currency losses in freight costs.

Foreign Feeder Ships Dominating the Scene:

At present, around 80 feeder vessels dominate the transportation of containerized cargo between transshipment ports and Chattogram port in Bangladesh. Despite the country’s heavy reliance on these vessels, the BSC aims to change the landscape by acquiring six new container ships from South Korea.

These new vessels, each with a capacity of 2,500-3,000 TEUs, are expected to generate significant revenue for the national flag carrier. With plans to operate the ships between Chattogram and transshipment ports in Singapore and Malaysia initially, the BSC hopes to transport over 500,000 TEUs of containers annually, creating additional revenue of Tk 700 crore to Tk 800 crore.

BSC’s Storied History:

The Bangladesh Shipping Corporation has a rich history, beginning its journey with only two ships in 1972. Over the years, the corporation has made strategic moves to expand its fleet, with the latest purchase of six new ships in 2018. Despite facing challenges such as a bomb attack damaging one of its vessels, the BSC has seen a significant increase in its net profit in recent years.

In the financial year 2023-24, the BSC reported a record net profit of Tk 249.69 crore, the highest in its 53-year history. With a net profit margin of around 42 percent, the BSC’s financial performance surpasses that of neighboring countries’ shipping corporations. Looking ahead, the state-run corporation plans to further expand its fleet by purchasing six more container ships in the future.

Overall, the acquisition of these new container ships from South Korea marks a pivotal moment for the Bangladesh Shipping Corporation, setting the stage for increased revenue, reduced dependency on foreign vessels, and a stronger foothold in the global shipping industry. New Study Reveals Impact of Social Media on Mental Health

NYK takes entire gas, product tanker and bulker fleet from Eneos Ocean

In today’s digital age, social media has become an integral part of our daily lives. From connecting with friends and family to staying informed about current events, social media platforms offer a plethora of benefits. However, a recent study has shed light on the negative impact that excessive social media use can have on mental health.

The study, conducted by researchers at a leading university, examined the relationship between social media usage and mental health outcomes. The findings revealed a strong correlation between the amount of time spent on social media and feelings of loneliness, depression, and anxiety.

Impact on Mental Health:

The study found that individuals who spent more than two hours per day on social media were significantly more likely to report feelings of loneliness and isolation. This is due to the fact that excessive use of social media can lead to a decrease in face-to-face interactions and real-life connections, which are crucial for maintaining good mental health.