Bangladesh gets $22.48m for ship hit by missile in Ukraine

The foreign insurance company deposits the claim in Sadharan Bima Corporation’s account

The Bangladesh authorities have received $22.48 million from a foreign insurance company as claimed for Banglar Samriddhi, the ship hit by a missile in Ukraine during the ongoing war in Europe.

The foreign insurance company has deposited the claim in Sadharan Bima Corporation’s account and the fund will be transferred to Bangladesh Shipping Corporation or BSC soon.

“We’ve got all the money we claimed,” BSC Managing Director Commodore Md Ziaul Haque said on Thursday.

State-owned Sadharan Bima Corporation and the Beazley Group, which participates in the British insurance market Lloyd's of London, are the insurers of the ship.

The BSC rented the vessel to Danish firm Delta Corporation. The bulk carrier arrived in Ukraine on Feb 22, 2022. Russia invaded the country on Feb 24 and a projectile struck the vessel on Mar 2, killing one of the crew.

The rest of the crew members then abandoned the ship at Olvia port and were moved out of Ukraine.

The attack heavily damaged the ship’s navigation bridge. Fire from the explosion also damaged other parts of the ship.

The BSC bought the ship for $26.3 million around four and a half years ago. After depreciation, officials said, the ship was valued at $22.5 million.