Record-Profit New Mooring Slips Away in ‘Anti-National’ DP World Deal

A 15-year concession agreement has been signed with Dubai-based DP World to hand over the New Mooring Container Terminal (NCT) Chittagong Port’s highest-earning asset. The terms of the deal were finalized in strict secrecy. Critical aspects, including the actual volume and guarantees of foreign capital investment, the port’s net financial balance, and penalty mechanisms for breach of contract, were kept undisclosed.

The signing took place Thursday afternoon in Dhaka at the Invest Bangladesh auditorium in Agargaon, rather than at the Chittagong Port Authority (CPA) headquarters. Organized jointly by Invest Bangladesh, the CPA, and the Ministry of Shipping, the event excluded labor unions, port workers, and trade stakeholders.

Following the ceremony, Shipping Minister Sheikh Rabiul Alam stated that the concession aims to modernize Chittagong Port to global standards through DP World, a leading international terminal operator. He maintained that national and port interests have been fully preserved. However, detailed terms were not made public, concluding a two-year process marked by confidential discussions.

This follows similar fast-tracked long-term concessions, including the planned Laldia Char terminal and the CPA-funded Pangaon terminal, signed on November 17, 2025, during the interim government. Combined with a terminal in Patenga leased out under the previous administration, four lucrative terminals have now been handed over to foreign companies, leaving the CPA managing only the Chittagong Container Terminal (CCT) and older General Cargo Berths (GCB).

The signing triggered demonstrations in both Dhaka and Chittagong. In Dhaka, citizens, political activists, and students gathered near the venue, while labor alliances staged rallies outside Chittagong Port. Protesters warned that surrendering a functioning, profitable asset handling 44% of the port’s containers creates serious economic and geostrategic vulnerabilities. Prominent economist Professor Anu Muhammad criticized the concession, describing the lease of a strategically sensitive facility as damaging to sovereignty and economic security.

Concerns were also raised regarding an incident in April 2025 under the interim administration, when 40 foreign personnel, including 21 Indian nationals visiting under DP World’s banner were granted access to the port’s restricted perimeter, causing friction with local dock workers before their visits were halted.

Hunger Strike Announced for October 12

In Chittagong, the Port Protection Committee and the Port Protection Sangram Parishad staged rallies demanding the immediate cancellation of the deal. Labor leaders including Kazi Sheikh Nurullah Bahar of the Jatiyatabadi Sramik Dal, Mohammad Harun, and Taslim Hossain Selim argued that vital national infrastructure should not be leased out without broad public and stakeholder consensus.

Representatives from the CPB, Basad, Basad (Marxist), and SKOP joined the demonstration in solidarity. Leaders announced a mass hunger strike on Monday, October 12, in front of the Chittagong Port One-Stop Building to push for the cancellation of the concession.

Key Terms Disclosed by the Government

During the post-signing press briefing, Shipping Minister Sheikh Rabiul Alam provided details on the operational arrangement:

• Ownership & Land: Land, core infrastructure, ownership, and regulatory control will remain with the Chittagong Port Authority.

• Upfront & Capital Investment: DP World will pay an upfront fee of approximately 600 crore BDT and has committed to investing over 1,000 crore BDT in modernization, equipment, and technology over the first ten years.

• Revenue Sharing: The CPA will receive 67% of the revenue generated per twenty-foot equivalent unit (TEU) handled. Based on an average handling fee of $140–$150 per container, the port’s share will be $93–$103.

• Accountability: Financial penalties will be enforced if DP World fails to achieve agreed operational targets.

Sultan Ahmed bin Sulayem / Essa Kazim, representing DP World, stated that the partnership will link NCT to DP World’s global logistics network, improving Bangladesh’s trade connectivity with international markets.

Launched in 2007, NCT handles approximately 44% of Chittagong Port’s container throughput and has been managed by the Bangladesh Navy-run Chittagong Dry Dock Limited since July 2024.

The Ministry of Shipping issued a warning that any disruption to port operations or law and order will be met with strict legal action. Security remains heightened across the port perimeter, and while terminal operations continue as normal, tensions remain high among workers and local civic groups.