Industry seeks dynamism at BSBRA AGM
The Bangladesh Ship Breakers and Recyclers Association (BSBRA) held its 41st Annual General Meeting (AGM) at the conference room of The Chittagong Club in the port city.
Members attending the meeting called for united efforts and dynamism to sustain the industry, which has grappled with various crises over the past few years.
Abu Taher, president of BSBRA, chaired the meeting, which was addressed by senior vice president Liakat Ali Chowdhury, vice president Zahirul Islam Rinku, vice president Karim Uddin, and executive members Mohammad Lokman, Mohammad Nayeem Shah Imran, Shahin Alam, Mohammad Sekander Hosen, and Hosainul Arefin, among others.
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The meeting approved the annual report, audit report, and accounts for fiscal year 2023-24 and finalised the appointment of an auditor for fiscal year 2024-25.
The association's general members highlighted the industry's challenges during the open discussion session. They noted that the import of scrap ships has declined alarmingly, with many shipyards remaining closed. Members cited the ongoing dollar crisis and the high price of vessels in the international market compared to the local market as critical barriers to shipping imports.
With the June 2025 deadline for transforming conventional yards into green-certified yards fast approaching, leaders urged members to expedite their development efforts to meet the requirements.
Additionally, members called on the leadership to launch integrated, innovative, and dynamic initiatives to address the challenges and ensure the industry's sustainability.
Notably, the ship-breaking industry, located along the Sitakunda coast in Chattogram, is the only industry in Bangladesh that leads the global market. The $2.46 billion industry dismantles about 3 million tons of end-of-life ocean-going ships annually. After ratifying the Hong Kong Convention for safe and environmentally friendly ship recycling in 2023, Bangladesh now has five green-certified yards, with twenty more currently under development to achieve green certification.
