The state-owned Bangladesh Shipping Corporation (BSC) has experienced a downturn in both revenue and associated profit during the first nine months of the fiscal year 2023-24, according to officials.
This decline has been attributed to the extended periods of routine maintenance and repairs, resulting in five out of the seven vessels remaining out of operation for a significant portion of the period.
Financial statements shared by BSC officials reveal that during the July-March period, revenue amounted to Tk 3.46 billion, marking a 6.25 percent decrease from the previous fiscal year’s figure of Tk 3.69 billion.
Similarly, profit generated in the three quarters totaled Tk 1.74 billion, down by 26.67 percent from Tk 2.36 billion in the corresponding period of the previous fiscal year.
Earnings per share (EPS) witnessed a decline of approximately 12 percent, with the latest EPS standing at Tk 11.05 compared to Tk 12.49 previously, as disclosed by BSC on the Dhaka Stock Exchange (DSE) website.
Routine maintenance of ships, including inspections and hull maintenance, is essential for ensuring operational efficiency and compliance with safety standards. Dry docks are typically utilized for these maintenance activities, occurring approximately once every five years, encompassing tasks such as hull cleaning and application of anti-corrosive and anti-fouling coatings.
