The Pakistan National Shipping Corporation (PNSC) has expanded its fleet from 10 to 12 vessels with the induction of two Aframax-class tankers, Swan Lake and P. Aliki. The addition aims to enhance the country’s maritime and energy transport capacity.
Federal Minister for Maritime Affairs Muhammad Junaid Anwar Chaudhry briefed in a meeting with PNSC Chief Executive Officer Zarar Hussain in the presence of maritime ministry officials, Karachi Port Trust, and Port Qasim Authority (PQA). The minister showed that the fleet of the PNSC currently contained 12 ships and reiterated that the government was set to increase its fleet to 20 vessels by the year-end.
The minister has noted the contribution of the Pakistan National Shipping Corporation (PNSC) in transportation of crude oil and petroleum products. Aframax tankers of between 80,000 and 120,000 deadweight tonnes are also common to access ports that are incapable of receiving larger carriers. The expansion of the fleet also enhances the capacity of Pakistan to effectively cope with the increasing imports of energy.
Pakistan relies on imports for about 70% of its energy needs, mainly crude oil and refined products. Freight payments to foreign carriers currently cost the country nearly $4.6 billion annually. By increasing cargo capacity through the Pakistan National Shipping Corporation fleet, the government expects to save foreign exchange, improve revenue, and secure national energy transport.
According to Minister Junaid Chaudhry, the PNSC is busy tapping emerging business prospects both at home and in the international market. It is the strategy to revitalize the maritime economy and make the supply chain more resilient. Increase in the size of the Pakistan National Shipping Corporation is a move towards becoming less reliant on foreign shipping lines and enhancing the shipping industry of Pakistan.
