Karachi: Pakistan National Shipping Corporation (PNSC) has announced plans to acquire new Aframax vessels to enhance its fleet capabilities and meet the country’s maritime transportation needs. The move aims to replace the existing vessels, which are nearing two decades of service, with more efficient ones boasting higher deadweight tonnage capacities. The procurement will be funded through a combination of debt and equity, with delivery anticipated by 2028.
According to JS Global, PNSC’s focus on upgrading its fleet comes after the corporation reported a 33% year-on-year decrease in earnings for fiscal year 2024, amounting to Rs20 billion. This decline was attributed to reduced fleet operations, the absence of a one-off gain from the previous fiscal year, and the appreciation of the Pakistani Rupee. The corporation, a key player in facilitating the transport of dry bulk commodities such as iron and steel products, fertilizers, and coal, aims to bolster its operational efficiency through this strategic acquisition.
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