Home ›› 20 Aug 2021 ›› Corporate
FMC Dockyard Ltd., one of the country’s leading shipbuilders, has received a new work order from the Sudanese government to export tugboats, with the export value of this state-of-the-art tugboat being $ 13 million, says a press release.
The construction process will begin within the next 15 days, subject to the approval of drawing and design by the Classification Society, according to the press release of FMC Dockyard Ltd.
Mr. Mohammad Yasin Chowdhury, chairman and CEO of FMC Dockyard Ltd, said “I have always focused on creating a new global market for Bangladesh.”
Consequently, there was an urge to prove that, African continent should also be a lucrative new market for Bangladeshi shipbuilders in addition to Europe, America or the Middle East and we are proud to have the immense opportunity to export vessels from Bangladesh to Sudan for the first time, he added.
Yasin Chowdhury also said that Bangladesh is gradually overcoming the stagnation in domestic and global trade. Albeit to some extent, various steps were taken by the government for various industrial establishments during the pandemic period to help them overcome this recession.
But such steps are not sufficient enough for us as the governments of China, South Korea, India and other countries around the world have taken more initiatives to protect their shipbuilding industry.
For instance, the government of India has approved a cash incentive at the rate of 20 per cent on the export value of the vessels from April 1, 2016 till 2026.
Chinese entrepreneurs are getting low interest loans as well as subsidies for their own raw materials. These initiatives are taken in those countries to protect such heavy industrial sectors from any such recession, says the release.
If the Bangladesh government could extend equal opportunities for the indigenous shipbuilders, a colossal new source of foreign exchange revenue will be introduced, which will make a significant contribution to the national economy of the country, reads the press release.
Despite having the capacity to build the most sophisticated newfangled vessels, only a few companies are exporting to overseas. But to ensure that this sector is not confined to one or two shipbuilders, the government should extend adequate facilities to this industry like other countries.
Moreover, FMC is about to receive further work orders worth $ 200 million soon from the authorities of various countries to export vessels from Bangladesh, though the process is delayed due to the ongoing Covid-19 pandemic.
FMC Dockyard Limited, a major concern of FMC Group, is a globally recognised company established in 2006 with an objective of providing complex solutions in the new ship building, ship repairing and ship conversion industry. It’s now recognised as the largest shipyard of Southeast Asia with a total area of 65-acre of land and it’s the only Dockyard of Bangladesh, which has its own forward and backward linkage industry.
FMC Dockyard Ltd is now building various types of most sophisticated vessels such as LCT Vessel, TCV Vessel, Multi-Purpose Vessel, and Survey Vessels with Multibeam Echo Sounder, Container Ship, Oil Tanker, Passenger Ship, Fishing Trawler, Dredger, and Tugboat. Etc. Now the company is exporting vessels abroad after fulfilling the domestic demand.
Since its inception in 2006, FMC Dockyard has so far built approximately 200 new vessels for various government, autonomous and private organisations and is currently working on various projects with the work order value of approximately 1,200 crore. FMC Dockyard Limited is also a trustworthy partner in ship repairing and jetty Construction, says the press release.
