Close on heels of reports that maintained exporters including the garment makers have had to deal with container crisis and increased freight charges, 32 new flag vessels have joined the country’s fleet even if, as of December 2021, the number of vessels has increased to 80 from that of 48 in 2019.
Media reports maintained this adding this increase in the number of vessels took place in the last two years, since the COVID-19 pandemic made inroads into Bangladesh even as industry insiders, reportedly, maintained berthing priority at local ports, provision for local vessels to carry 50 per cent cargos, and VAT exemption during the increased exports and imports lately, have mainly spurred the sector’s growth.
Meanwhile, reports suggest, although Bangladesh spends at least US $ 9 billion in freight charges annually, local ocean-going vessels could tap only 8-10 per cent at best owing to a dearth of vessels even as entrepreneurs and Mercantile Marine Office of the Shipping Department, reportedly, underlined now is the opportunity to retain at least 20 per cent or US $ 2 billion annually with the increase in the number of flag-carrier ships.
