The Pakistan National Shipping Corporation (PNSC) has approved the purchase of three new ships worth $193 million as part of its plan to strengthen the national fleet.
According to the Ministry of Maritime Affairs, the decision aligns with the government’s directive to expand the country’s shipping capacity and increase the total number of vessels to 30 by 2026.
A ministry statement said PNSC has been directed by Federal Minister for Maritime Affairs Muhammad Junaid Anwar Chaudhry to speed up the procurement process. “PNSC has accelerated its efforts to acquire new vessels to support Pakistan’s maritime growth and reduce dependence on foreign shipping,” it added.
During a briefing held on Friday, the PNSC management informed the minister that the fleet expansion plan was on track, with several key purchases nearing completion. Earlier, the PNSC board had approved the purchase of three secondhand Aframax and MR-2 class oil tankers, with all necessary evaluations and due diligence completed under public procurement rules.
In its latest meeting, the board approved the acquisition of the following ships:
- MT Lorex (to be renamed MT Karachi) for $74.5 million
- MT Nafsika (to be renamed MT Lahore) for $74.5 million
- MT Stavanger Poseidon (to be renamed MT Quetta) for $44.15 million
The first two are Aframax tankers, while the third is an MR-2 class vessel. PNSC is currently finalizing legal and commercial arrangements, with delivery of the ships expected by December 2025.
Alongside these purchases, the corporation has begun the procurement process for 12 more vessels, including four LR-2, four MR-2, and four MR-1-class ships. Bids are under technical evaluation as part of PNSC’s broader fleet enhancement strategy.
Minister Junaid Anwar Chaudhry reaffirmed the government’s goal to strengthen Pakistan’s maritime logistics capacity, saying that expanding the national fleet would reduce reliance on foreign shipping companies and improve energy transportation efficiency.
In recent years, PNSC has increased its fleet from 10 to 12 vessels, including the addition of two Aframax-class tankers — Swan Lake and P Aliki. These tankers, which can carry between 80,000 and 120,000 deadweight tonnes, are preferred worldwide for their ability to dock at ports that larger carriers cannot access.
Pakistan currently spends around $4.6 billion annually on freight payments to foreign carriers. The expansion of PNSC’s fleet is expected to save foreign exchange, boost national revenue, and enhance energy security by allowing more cargo to be carried on locally owned vessels.
Source: Propkistani.pk