PNSC eyes $700m freight earnings by expanding fleet to 34 vessels in three years

ISLAMABAD: 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 announced during a high-level meeting chaired by Federal Minister for Maritime Affairs, Junaid Anwar Chaudhry, as part of an ambitious business strategy aimed at revitalising maritime and logistics sectors.

The meeting informed the minister that PNSC currently manages approximately 11 per cent of the country’s cargo by volume and 4 per cent by value. The national carrier is now targeting increase in its cargo handling to 52 per cent by volume and 43 per cent 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 emphasised the need for PNSC to evolve into a globally competitive, technologically advanced, and environmentally sustainable organisation 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 Organisation (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 modernisation efforts without overburdening the national budget, the plan advocates leveraging public-private partnerships, maritime leasing models and tapping into global green shipping funds. He 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.