MGI Achieves Top Spot in Ocean-Going Ship Management Industry
Meghna Group of Industries (MGI) gave work order to build four new ships in China during Corona two and a half years ago. These four ships have now joined the group’s fleet.
With the addition of four new vessels, the number of seagoing vessels in MGI fleet has increased to 22. Product transportation capacity has increased to 12 lakh 20 thousand tons. KSRM Group, which has been at the top for so long, has dropped to the second position. Although the number of vessels is one more than MGI, their cargo carrying capacity is 11 lakh 77 thousand tons. Akij Group is in third place. The 10 ships in their fleet have a cargo capacity of 560,000 tons.
The benefits of investing in ships are high. As foreign currency is being saved by transporting own goods, foreign currency is earned by transporting foreign goods.
Mustafa Kamal, Chairman, Meghna Group of Industries
According to the Association of Seagoing Shipowners and the Office of Shipping, there are currently 95 ships in the fleet of 17 organizations of 14 domestic groups. All but seven ships of Bangladesh Shipping Corporation (BSC) in the public sector belong to the private sector. In total, the capacity of existing ships in the country is about 45 lakh tons.
MGI foray into the shipping business began in 2011. However, from 2019, the group kept floating in the water one after another. The inauguration of four new ships added to the company’s fleet is taking place on Sunday. MGI group is rising to the top of the ship management industry with the official launch.
Currently, all but two oil tankers in the group’s fleet have an average carrying capacity of 60,000 tonnes. The group’s investment in this sector stands at 450 million dollars. According to the current exchange rate (Tk 106 per dollar) this investment in local currency is about Tk 4 thousand 770 crore.
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When asked, Chairman of Meghna Group of Industries, Mustafa Kamal said, “The benefits of investing in ships are high.” As foreign currency is being saved by transporting own goods, foreign currency is earned by transporting foreign goods. Skilled sailors of the country are also getting employment. Considering these issues, we have continued to invest.
Meghna Group’s new four vessels are each 200 meters long. Each ship is capable of transporting 66 thousand tons of goods. “MV Meghna Victory”, a four-ship vessel, arrived at Chittagong port on February 17 with 62,000 tonnes of wheat from Canada. Another ship named “Meghna Prestige” is now in Mongla. “Meghna Hope” and “Meghna Progress” await a new journey at sea off the coast of China. These four ships are flying red-green flags.
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