PNSC signs MoU with China’s Shangdong Xinxu Group

July 24, 2025 (MLN): Pakistan National Shipping Corporation (PSX: PNSC) has signed a Memorandum of Understanding (MoU) with Shangdong Xinxu Group Corporation Company, a Chinese firm established under the laws of China.

The MoU establishes a relationship of mutual cooperation and trust between the two parties, aiming to achieve commercial benefits and foster favourable investment conditions in Pakistan’s maritime sector.

Key areas outlined in the MoU include the acquisition of cargo vessels, such as liquid bulk, dry bulk, and containerized ships, under joint ownership, individual ownership, or profit-and-loss sharing arrangements.

The agreement also covers the chartering of vessels by Xinxu to PNSC under various models, including time charter, spot charter, or bareboat charter agreements, the notification issued to the local bourse.

Additionally, PNSC may provide commercial, technical, and administrative management services for the vessels, encompassing chartering, marketing, crewing, maintenance, and regulatory compliance.

These services may be compensated through fixed or variable management fees, or profit-sharing models.

Furthermore, Xinxu may offer financing to PNSC in local or foreign currencies to support investments in ships and floating platforms.

Such financing would be provided on competitive commercial terms.

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