Bulk carrier operator Bangladesh Shipping Corporation (BSC) reported a profit of BDT897 million (US$7.25 million) for the three months ended September 30, 2026, an increase of 14.4 per cent year-on-year, as two bulk carriers acquired during the previous financial year contributed revenue.
The corporation attributed the result, covering the first quarter of FY2027, to higher operating income from Banglar Progoti and Banglar Nabojatra. The two ships brought its fleet to seven vessels.
Quarterly earnings per share rose to BDT5.88 (US$0.05) from BDT5.14 (US$0.04), while net operating cash flow per share increased to BDT8.28 (US$0.07) from BDT7.94 (US$0.06).
The quarterly figures were released with BSC's annual results on November 8. FY2026 profit fell five per cent to BDT2.91 billion (US$24 million). BSC said FY2025 had included capital gains from the sale of two fire-damaged tankers, Banglar Jyoti and Banglar Sourabh, and FY2026 had no equivalent gain.
Interest income also declined after BSC withdrew around BDT7 billion (US$57 million) from fixed deposits to part-fund the bulk carrier purchases, borrowing the balance.
Short-term bank deposits stood at BDT10.93 billion (US$88 million) in June 2026, down from BDT16.02 billion (US$130 million) a year earlier.
"As the vessels have only recently joined the fleet, returns have yet to materialise, resulting in a temporary decline in earnings," a BSC official who requested anonymity told local news outlet The Financial Express.
Annual net operating cash flow per share more than doubled to BDT25.4 (US$0.21) from BDT11.96 (US$0.10). The company attributed the increase to higher collections from core operating income.
Net asset value per share reached BDT127.36 (US$1.03) at September 30.
BSC has recommended a 25 per cent cash dividend for FY2026, unchanged from the previous year, with a record date of December 15.
The two vessels were bought from US-based Hellenic Dry Bulk Ventures for US$76.7 million combined, financed predominantly from internal resources.
Banglar Progoti was delivered at China's Nanyang Shipyard in October 2025. Banglar Nobojatra, formerly XCL Lion, was handed over at Jingjiang Nanyang Shipbuilding in January 2026.
