Our ancestors realized the great importance of the strategic location of Bangladesh and looked upon the sea as a divine gift. It was, therefore, natural and logical for them to have exploited the seas and rivers to the maximum advantage by developing trade through sea and river routes. Keeping this perception in mind, Khulna Shipyard Limited (KSY) was established in the year 1957 for giving support to maritime activities of the country. By all means KSY become a prestigious enterprise of the country. But due to some mismanagement and ineptitude the very survival of the shipyard was at stake in the late 1980s. Subsequently the Government decided to privatize KSY with the intention to salvage the organization. Bangladesh Navy with its professional pride and capability accepted the challenge to run it commercially in 1999. Thus a new history was made in the country, because this was the first time that a commercial organization was handed over to a regular service of the country. By the Grace of Almighty Allah for the last fifteen years, Bangladesh Navy has been running the organization profitably. Present management of KSY is very keen and endeavoring to take every opportunity to remain ahead of competition by quality services and business commitment. I, being the Chairman of Board of Directors of KSY, is delighted to see this organization as a profitable enterprise under Bangladesh Navy.