PNSC eyes $700m freight windfall with fleet expansion to 34 ships

June 28, 2025 (MLN): Pakistan National Shipping Corporation (PNSC) is set to generate an estimated $700 million in freight earnings by expanding its cargo fleet to 34 vessels over the next three years.

This was revealed during a high-level meeting chaired by Federal Minister for Maritime Affairs, Muhammad Junaid Anwar Chaudhry, as part of an ambitious business strategy aimed at revitalizing maritime and logistics sectors.

The meeting informed the Minister that PNSC currently manages approximately 11% of the country’s cargo by volume and 4% by value.

The national carrier is now targeting to increase its cargo handling to 52% by volume and 43% by value (excluding containerised cargo) within three years.

Presenting a comprehensive and future-oriented business plan, the Federal Minister outlined a transformative vision for PNSC, describing it as a cornerstone for advancing maritime capabilities.

He emphasized the need for PNSC to evolve into a globally competitive, technologically advanced, and environmentally sustainable organization aligned with international maritime benchmarks.

A key component of the plan includes a phased renewal and expansion of PNSC’s aging fleet to enhance cargo capacity, fuel efficiency, and compliance with International Maritime Organization (IMO) standards, including those governing carbon emissions and ballast water management.

In a bid to foster self-reliance, the Minister proposed deepening collaboration between PNSC, Karachi Shipyard & Engineering Works, and local industries for the domestic construction of modern cargo vessels, oil tankers, and container carriers.

This initiative is expected to create skilled employment, strengthen local supply chains, boost industrial activity, and rejuvenate Pakistan’s shipbuilding sector, positioning the country as a regional maritime hub.

To fund the modernization efforts without overburdening the national budget, the plan advocates leveraging public-private partnerships, maritime leasing models, and tapping into global green shipping funds.

The Minister also underscored the need for digital transformation in maritime operations. This includes the adoption of platforms such as Pakistan Single Window (PSW), Vessel Traffic Management Systems (VTMS), blockchain-based documentation, e-logistics solutions, and real-time cargo tracking systems—measures aimed at enhancing transparency, efficiency, and security.

Environmental sustainability remains central to the reform agenda. PNSC will embrace green shipping practices by using cleaner fuels, retrofitting vessels for energy efficiency, and adhering to international decarbonization goals.

Reiterating PNSC’s strategic role, the Federal Minister emphasized its importance for maritime sovereignty, national economic stability, and secure supply chains, particularly in a volatile global environment.

He affirmed that with resilience, innovation, and sustainable growth at its core, PNSC is poised to become a leading player in the regional maritime landscape.

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