Legal protection, tax benefits and rising freight charges – all these have encouraged new entrepreneurs to sign up in the ocean going shipping sector with intent to take a bigger slice of freight charges that now largely go to foreign ship operators.
Industry insiders say a provision for local vessels to carry 50% cargos, berthing priority at local ports, VAT exemption during imports and ballooning exports and imports have mainly spurred the sector's growth.
Bangladeshi feeder operator HR Lines has confirmed to The Loadstar it is negotiating with a Chinese shipbuilder to order a number of containerships. In October, several shipbroking reports mentioned that a Bangladeshi customer had ordered four 2,900 teu ships from Fujian Mawei Shipbuilding for delivery late 2023 to mid-2024, leading to market talk that HR Lines was behind the order.
Bangladeshi feeder vessel operator HR Lines, a subsidiary of the country's only container vessel owning firm Karnaphuli Group, is now in the final stage of negotiations with a Chinese shipbuilder over building four 3,000 TEU-capacity vessels.
Bangladesh’s only container ship owner and operator, HR Lines Limited, a Karnaphuli Company, has introduced two more vessels to its Colombo-Chattogram Express (CCE) service under agency of Clarion Shipping (Pvt) Limited, a subsidiary of Hayleys Advantis Limited.