Bangladesh Receives $22.48 Million In Compensation For Ship Hit By Missile In Ukraine

The Bangladeshi authorities have been compensated $22.48 million from a foreign insurance company for the damages from the missile attack on Banglar Samriddhi in Ukraine.

The funds have been transferred to the Sadharan Bima Corporation and will soon be passed on to the Bangladesh Shipping Corporation (BSC).

Ship Hit
Image for representation purpose only

The Beazley Group, which operates within the British market Lloyd’s of London, is one of two insurers of the vessel alongside SBC. The BSC had rented out Banglar Samriddhi to Danish company Delta Corporation back when it arrived in Ukraine on Feb 22, 2022.

Unfortunately, only two days later, Russia invaded and destroyed part of the ship with a projectile killing one of its crew members. The rest of them were evacuated at Olvia port soon after. Apart from damage to its navigation bridge, fire also affected other parts of the vessel.

The BSC had bought the ship for $26.3 million around four and a half years ago, and after depreciation, it was valued at $22.5 million.

Reference: Daily Asian Age, BD News24

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