CPA to operate new mooring terminal for six months

The Chittagong Port Authority (CPA) will operate its New Mooring Container Terminal for the next six months or until a new operator is chosen.

The advisory council on economic affairs approved the decision yesterday.

According to the decision, the terminal, including the overflow yard, will be operated under the CPA's own management.

Sources in the Ministry of Shipping, which proposed the decision, said around Tk 51 crore will be required to operate the terminal for six months.

It is the largest terminal of the country with a total of five jetties. Four seagoing vessels and one inland waterway vessel can dock at a time there.

A private company, Saif Powertec Ltd, has been operating the terminal since 2015 under a contract, which is set to expire on July 6.

The initiative was initially taken up by the previous Awami League government. The interim government has already been in talks with United Arab Emirates-based port operator DP World over a potential agreement to run the terminal. However, it has faced opposition from major political parties in progressing with the talks.

Replying to a query after an advisory council meeting, Brig Gen (retd) M Sakhawat Hussain, adviser to the shipping ministry, told reporters that the CPA would decide who would operate the terminal.

A meeting will take place today in this regard in Bangladesh Secretariat, he said.

Earlier on June 18, the ministry agreed in principle to hand over the operations of the terminal to the CPA.

GOVT TO IMPORT 17 CARGOES OF LNG

Meanwhile, the advisory committee on government purchase yesterday approved the import of 17 cargoes of liquified natural gas (LNG) under direct purchase method from Oman's OQ Trading Limited for 2025 and 2026.

Under the approval, the government will import five cargos of LNG in 2025 and 12 cargos in 2026 to meet the demand for gas in the country.

The meeting also approved a draft LNG Sale and Purchase Agreement (SPA) which states that the price of per unit (million British thermal unit or MMbtu) of LNG would be determined as per the standard of Japan Korea Marker (JKM) with an additional $0.15.

As per the JKM rate, LNG was $13.125 per MMbtu while the government purchased its latest consignment from the spot market at $13.52 per MMbtu.

Petrobangla officials said OQ Trading has been supplying LNG since 2018 under a long-term pact with them.

Since then, the company has supplied a total of 122 cargoes of LNG, and another long-term pact was signed with them in 2023 to increase yearly supply from 2026.

Yesterday's approval was for a short-term solution between the two long-term pacts under a government-to-government basis, the officials said.