Shareholders yesterday resented Bangladesh Shipping Corporation's (BSC) failure to announce dividends for fiscal 2008-2009.

The state-owned corporation showed around Tk 10.26 crore in loss at its 32nd annual general meeting.

The shareholders demanded the shipping minister open a probe into the loss and take steps against "corruption and irregularities" in the corporation.

Shipping Minister Md Shahjhan Khan, also president of BSC Board of Directors, presided over the AGM. BSC Managing Director Commodore Moqsumul Quader and Shipping Secretary Md Abdul Mannan Hawladar were also present.

The corporation's annual income was Tk 276.74 crore in fiscal 2008-09, while its annual expenditure was Tk 287 crore, Moqsumul told the AGM.

He linked a fall in freight charge as a result of global recession to the annual

loss ofTk 10.26 crore.

Shareholders present at the meeting protested the managing director's speech.

Abul Kashem, a shareholder, alleged that BSC has now only 13 vessels out of 38 in its fleet while the rest of the 25 vessels have been disposed of in different phases on expiry of commercial life.

But no new vessels could be replaced last years, he alleged adding that movement of most BSC vessels were stopped forayear.

The shipping minister assured shareholders of a proper investigation into the allegations.

He announced a plan to acquire six second-hand vessels, including two bulk carriers, one container carrier, one mother tanker and two product carriers in a bid to make the corporation profitable.

Another project involving Tk 50 crore has also been taken to construct a 25-storey building for BSC in Dhaka, the minister added.