BSC Reports Strong Q1 Profit Growth of 23%

"Paperfly", Bangladesh's biggest logistics company, bought back its 82% interest from Indian investor Ecom Express for a price that was not disclosed. This comes after Ecom Express faced problems in the global investment market, pushing them to withdraw from a planned second round of funding.

Business leaders and the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) have called for the government to waive demurrage charges for delays in shipping goods from ports. The call comes as business and economic activities resumed as broadband internet connections were restored and curfew relaxed. The Chattogram port handles 90% of Bangladesh's international trade.

Import container delivery and transfer at Chattogram port gained momentum after the partial resumption of broadband internet. In 24 hours, 1,286 TEUs of import cargo were delivered, 583 TEUs transferred to export zones, and 1,007 TEUs to private ICDs. Total containers in port yards dropped to 41,459 TEUs from 41,620 TEUs.

The transportation of goods to and from Chattogram port decreased by 20% on July 16 due to nationwide roadblocks and protests for quota reform in government jobs. Traffic congestion on the Dhaka-Chattogram highway and within the port city caused delays for vehicles carrying goods. Normally, around 6,000 vehicles enter Chattogram Port daily, but this number has reduced to about 5,000.

In answer to the rising need for business, the Danish shipping company Maersk has launched a new shipping service, called SH3, Between China and Bangladesh. By offering more space, flexibility, and effectiveness for the transportation of goods—particularly textiles and clothing—the new route improves the offerings of the current ones. Bangladeshi manufacturing and Chinese exporters are anticipated to gain from this action.

The National Board of Revenue (NBR) has authorized the proposal of the Chittagong Port Authority (CPA) to relocate import cargo handling and delivery operations outside of the Chattogram port yard. Business owners have long requested it. In 20222, CPAs struck an agreement with The Bay Cargo Centre.