Crude-laden tanker to resume voyage to Bangladesh after Hormuz clearance

Bangladesh's fuel supply chain is set to receive a significant boost as the "Nordic Pollux" crude oil tanker prepares to sail for Chattogram after securing clearance to pass through the Strait of Hormuz.

Commodore Mahmudul Malek, Managing Director of the Bangladesh Shipping Corporation (BSC), confirmed the development at a press conference held at the BSC headquarters in Chattogram on Wednesday afternoon. 

The announcement follows a two-week ceasefire agreement between the United States and Israel, which helped ease tensions in the Middle East and prompted Iran to lift shipping restrictions in the strategic waterway.

Tanker delayed, but no extra costs for Bangladesh

The Nordic Pollux, chartered by BSC, loaded 1,00,000 tonnes of crude oil from Ras Tanura port in Saudi Arabia on 3 March and was en route to Bangladesh when regional hostilities led to a temporary blockade of the Strait of Hormuz. The vessel remained anchored at Ras Tanura during the standoff.

Commodore Malek assured stakeholders that despite the delay, neither BSC nor the Bangladesh Petroleum Corporation (BPC) will incur demurrage charges. "The charter agreement includes force majeure provisions that protect us from additional costs arising from geopolitical disruptions," he explained.

The tanker is now awaiting final navigational clearance and is expected to depart for Chattogram within 48 hours, subject to port scheduling and weather conditions.

Strategic fleet expansion underway

Beyond immediate logistics, BSC outlined ambitious plans to strengthen Bangladesh's maritime cargo capacity through a series of new vessel acquisitions.

The corporation has finalised a government-to-government (G2G) financing agreement with China, signed on 11 March, to procure four additional ships under the project "Procurement of 2 Crude Oil Mother Tankers and 2 Mother Bulk Carrier Ships on G2G Basis". This initiative aims to reduce reliance on foreign-flagged vessels for essential commodity imports.

Separately, BSC is advancing a second project titled "Acquisition of 2 Product Oil Tanker Ships with 40,000-55,000 DWT Each". An evaluation committee meeting was held on 2 April, and the proposal is now being prepared for submission to the Executive Committee of the National Economic Council (ECNEC) for approval.

Record profits signal strong operational performance

The press conference also highlighted BSC's robust financial performance. In the 2024-2025 fiscal year, the corporation reported a net profit of Tk 306 crore against total revenue of approximately Tk 800 crore. This marks the highest annual profit in BSC's 54-year history, reflecting improved operational efficiency, strategic chartering, and favourable freight market conditions.

Executive Director (Commerce) Muhammad Anwar Pasha, Executive Director (Technology) Engineer Mohammad Yusuf, and other senior BSC officials attended the briefing, underscoring the corporation's coordinated approach to fleet modernisation and supply chain resilience.

Outlook: Stability key to sustained growth

While the imminent arrival of the Nordic Pollux will help stabilise domestic fuel reserves, industry analysts caution that long-term energy security depends on diversified sourcing routes, strategic petroleum reserves, and continued investment in domestic shipping capacity.

Commodore Malek concluded by reaffirming BSC's commitment to supporting Bangladesh's economic growth through reliable, cost-effective maritime logistics. "Our focus remains on ensuring an uninterrupted supply of essential commodities while building a modern, self-reliant shipping fleet for the future," he said.

With geopolitical risks still evolving, the successful transit of the Nordic Pollux will serve as an early test of renewed stability in one of the world's most critical energy corridors.