Pakistan’s maritime sector gets boost with China collaboration

July 24,2025(MLN): A landmark agreement between Pakistan National Shipping Corporation (PNSC) and China’s Shandong Xinxu Group is set to transform Pakistan’s maritime sector through expanded investment, vessel procurement, and operational collaboration.

The partnership, formalized via a Memorandum of Understanding (MoU), aims to boost regional trade, enhance shipping capacity, and strengthen Pakistan’s role in the global maritime industry, said a press release issued today.

Federal Minister for Maritime Affairs Muhammad Junaid Anwar Chaudhry, speaking at the signing ceremony, said the MoU reflects deepening maritime cooperation between Pakistan and China.

He noted that the agreement creates a foundation of mutual trust focused on commercial benefit and favorable investment conditions.

The MoU outlines joint efforts in acquiring and managing merchant cargo vessels ranging from tankers to container ships under joint or individual ownership and various profit-sharing arrangements.

It also includes leasing provisions, with Xinxu offering ships to PNSC via charter mechanisms such as time, spot, and bare boat charters.

Additionally, PNSC will provide technical, commercial, and administrative services including crewing, dry-docking, chartering, marketing, and regulatory compliance.

Financing support from Xinxu to PNSC for maritime investments is also part of the deal, governed by commercially competitive terms to ensure mutual financial viability.

Headquartered in Karachi, PNSC is Pakistan’s national flag carrier. Shandong Xinxu Group, based in China’s Zibo City, specializes in international shipping and trade.

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