The Chittagong Port Authority (CPA) will take over the operation of the New Mooring Container Terminal (NCT) for the next six months or until a new private operator is finalised, as per a decision approved by the Advisory Council on Economic Affairs on Tuesday.
The terminal, which includes the overflow yard, will be managed directly by CPA, marking a temporary shift from private to public operation. The Ministry of Shipping estimated that operating costs for the six-month period would total around Taka 51 crore.
The NCT is the largest container terminal in Bangladesh, with five jetties—capable of handling four seagoing vessels and one inland waterway vessel simultaneously. Since 2015, the terminal has been operated by Saif Powertec Ltd., under a contract set to expire on 6th July.
While the previous Awami League government initiated talks with UAE-based DP World to take over the terminal’s operations, progress has been slow due to political opposition from major parties.
Responding to reporters after the council meeting, Brig. Gen. (retd.) M Sakhawat Hussain, Adviser to the Ministry of Shipping, confirmed that CPA would oversee the interim management and a meeting regarding future operations would be held at the Bangladesh Secretariat.
Earlier on 18th June, the Ministry had given in-principle consent to CPA taking over the terminal’s operations.
In a separate development, the Advisory Committee on Government Purchase has approved the import of 17 cargoes of liquefied natural gas (LNG) from Oman’s OQ Trading Ltd., under a direct purchase arrangement for 2025 and 2026.
The deal includes five LNG cargoes in 2025 and twelve in 2026, aimed at meeting the country’s growing gas demand.
The committee also approved a Sale and Purchase Agreement (SPA), under which the LNG price will follow the Japan Korea Marker (JKM) benchmark, with an added US $ 0.15 per million British thermal units (MMBtu). At present, the JKM rate stands at US $ 13.125 per MMBtu, slightly below the US $ 13.52 per MMBtu the government recently paid in the spot market.
Officials from Petrobangla noted that OQ Trading has been supplying LNG to Bangladesh since 2018 under a long-term agreement and has already delivered 122 cargoes. A new long-term agreement was signed in 2023 to increase annual supply from 2026 onwards. The current approval serves as a bridge agreement to ensure uninterrupted supply between the two long-term deals.
