Western Marine to build fishing vessel for Norway

CHITTAGONG, Mar 7: Western Marine Shipyard will build a fishing vessel for Norwegian company.
A kick-off meeting and conference was held in this connection today at Chittagong Club.

Chittagong City Mayor AJM Nasir Uddin was present as the chief guest while Ambassador of the Royal Norwegian Embassy in Bangladesh Ms Sidsel Bleken addressed the event as the special guest.

Under an agreement signed between Western Marine Shipyard and Norwegian company in June 2016, Western Marine is building 80.30 meter long, 17.00 meter wide fishing vessel with a main engine capacity of 6000 kilowatt.
It is the first ever high-tech vessel being made in  Bangladesh and the project value of the vessel is US$ 25.00 million, the highest ever contract made for building a fishing vessel in the history of country’s ship building industry.
The deadweight tonnage (DWT) of the fishing vessel is 2000 metric tonnes whereas Bangladesh earlier experienced fishing vessels with maximum DWT of 300 tonnes.

Mayor AJM Nasir Uddin said the ship building industries are playing pivotal role to develop Bangladesh as a middle-income country by implementing the Vision-2021. The government should take necessary steps to sustain the industry.

Norwegian Ambassador Ms Sidsel Bleken expressed her satisfaction after observing performance of the Western Marine in the past years.

She expressed the hope that Western Marine will hand over the ship to its owner in due time maintaining international standard in building the ship.

Its machinery such as hydraulic deck machinery, navigation and communication system, interior outfitting and furniture, automation system and fish water handling and refrigerated sea water system will be imported from Norway at the cost of $ 7.00 million, said managing director of the company Engineer Sakhawat Hossain.

Other machinery will be imported from other countries at the cost of $ 8.00 million with value addition of $ 10.00 million in Bangladesh backward linkage industry which will create 100 direct and indirect jobs for the next two years.
He said that Western Marine is playing an important role for the country’s economy by adding 40 per cent value in the industry.

It would a pride for Bangladesh shipbuilding industry for securing this job and would surely strengthen and enhance the bilateral trade relationship between Bangladesh and Norway.

Presenting the current scenario in ship building industry in Bangladesh he said the achievement the industry has made in the past years is glorious that made notable contribution to the economy.
He stated that ship building has emerged in Bangladesh in recent years as a major export diversification beside the RMG sector.

At a short period of time the industry has made a good reputation in the global market through export of their quality products in many countries of the world.
A total of 25 ships have been exported over last five years which has brought an inward remittance of more than $ 150 million.

Out of 25, Western Marine alone has exported 13 ships.
Despite the global economic downturn, the WMS has secured many foreign orders and is now building 21 ships for Norway, Denmark, Kenya, UAE, Gambia and India. Many more countries are also communicating for building more ships, he said.

He added that the shipbuilding industry is a capital intensive one, and as such, those who have invested in the industry are facing huge challenge. If the government introduces a long term interest subsidy scheme then it will be sustainable. He urged the government to fix up 4 per cent interest rate on bank loans for a period of 20 years.
For instance, Chinese, Korean and Indian shipbuilders are receiving low interest bank loan, special subsidy and export facilities from their respective governments. Japan, Korea and China providelong term loan for a period of 25 years and in India, 20 per cent subsidy for a period of 10 years is being provide, he said.

[email protected]