Category: Energy and Power

BRAC Bank Finances Two OceanGoing ‘Aframax’ Oil Tankers for MJL Bangladesh

BRAC Bank has extended landmark financing to MJL Bangladesh PLC for the acquisition of two ocean-going Aframax oil tankers the largest vesselsregistered under the Bangladeshi flag to date.

This transaction represents the largest single-ticket foreign currency (FCY) offshore banking term loan ever arranged by a local private bank in Bangladesh for this industry.

As part of the financing arrangement worth USD 95.77 million, MJL Bangladesh a leading provider of sea freight services to both domestic and international petroleum companies has already inducted ‘MT Omera Galaxy’, an Aframax-class oil tanker with a capacity of 115,600 dead weight tonnes (DWT), into its fleet.

The vessel isthe largest oceangoing ship to carry the Bangladeshi flag.

Building on the commercial success of this milestone, MJL Bangladesh is moving forward with the acquisition of a second Aframax tanker, ‘MT Omera Liberty’, currently under construction at a globally renowned shipyard.

The formal signing ceremony took place at Mobil House, Dhaka, on September 2, 2025, in the presence ofsenior officials from both organizations.

ASEAN Centre for Energy and United Nations ESCAP Sign MoU to Advance ASEAN Energy Cooperation

Dato’ Ir.

Ts.

Razib D a w o o d , Executive Director of ACE (left) and Armida Salsiah Alisjahbana, U n d e r – S e c r e t a r y General of the United Nations and Executive Secretary of ESCAP (right) during the MoU signing.

The ASEAN Centre for Energy (ACE) and the United Nations Economic and Social Commission for Asia and the Pacific (ESCAP) have officially forged a strategic partnership to advance ASEAN’s energy cooperation through a MemorandumofUnderstanding (MoU) signed at the UN Conference Centre in Bangkok, Thailand, on 1 September 2025.

The signing ceremony took place in conjunction with Asia-Pacific Energy Week, hosted by ESCAP, which aims to strengthen regional cooperation through accelerated just energy transitions.

The MoU was signed by Dato’ Ir.

Ts.

Razib Dawood, Executive Director of ACE, and Armida Salsiah Alisjahbana, UnderSecretary-General of UN and Executive Secretary of ESCAP, representing their respective organizations.