The Bangladesh Navy grabbed control of a major shipping terminal at midnight Sunday. Chittagong Dry Dock Limited kicked out the private company that had run the place for seventeen years. Saif Powertec lost their contract to operate the New Mooring Container Terminal at the busy port. Government officials ordered the switch and signed a deal lasting six months. The Navy shipyard will handle all cargo operations starting Monday morning.
Port Secretary Omar Faruk announced the handover after a board meeting approved the change. The terminal processes nearly half of all shipping containers that pass through Chittagong each year. Saif Powertec moved about 44 percent of the 3.2 million containers during the last fiscal year. The company still runs another terminal called Chittagong Container Terminal under a different agreement. Four separate terminals handle shipping traffic at the massive port facility.
Chittagong Dry Dock Limited started as a government steel company before the Navy took charge. The shipyard fixes boats and handles emergency repairs for vessels visiting the port. Navy commanders will manage the container operations through direct government control. Saif Powertec boss Tarafder Ruhul Amin confirmed his company handed over the keys to military officials. The six-month trial period will test whether the Navy can run the critical shipping hub better than private operators.
Port Secretary Omar Faruk announced the handover after a board meeting approved the change. The terminal processes nearly half of all shipping containers that pass through Chittagong each year. Saif Powertec moved about 44 percent of the 3.2 million containers during the last fiscal year. The company still runs another terminal called Chittagong Container Terminal under a different agreement. Four separate terminals handle shipping traffic at the massive port facility.
Chittagong Dry Dock Limited started as a government steel company before the Navy took charge. The shipyard fixes boats and handles emergency repairs for vessels visiting the port. Navy commanders will manage the container operations through direct government control. Saif Powertec boss Tarafder Ruhul Amin confirmed his company handed over the keys to military officials. The six-month trial period will test whether the Navy can run the critical shipping hub better than private operators.
