The Pakistan National Shipping Corporation (PNSC) is set to strengthen its fleet with the acquisition of two Aframax-class tankers. The announcement came as PNSC’s wholly-owned subsidiaries, Karachi Shipping (Pvt) Ltd. and Lahore Shipping (Pvt) Ltd., signed Memoranda of Agreement (MoA) for the purchases. The development was disclosed through a notice to the Pakistan Stock Exchange (PSX) on Monday.
The two Aframax tankers, named LORAX and NAFSIKA, have deadweight tonnages (DWT) of 109,990 and 112,051 tonnes, respectively. Both vessels will be renamed after Pakistani cities — MT Karachi and MT Lahore — once the acquisition is complete. This move is part of PNSC’s larger fleet expansion plan, aiming to increase the national fleet to 30 vessels by 2026.
PNSC’s Board of Directors has approved the procurement of three vessels in total, valued at $193.115 million. Alongside the two Aframax tankers, an MR-2 class tanker, MT STAVANGER POSEIDON, will also be acquired and renamed MT Quetta. The two Aframax vessels are priced at $74.5 million each, while the MR-2 class vessel costs $44.15 million.
During a briefing to Federal Minister for Maritime Affairs Muhammad Junaid Chaudhry, PNSC officials confirmed that the vessel procurement process is being fast-tracked following federal directives. All evaluations and due diligence have been completed according to public procurement regulations.
The Pakistan National Shipping Corporation stated that the new acquisitions will enhance cargo transport capacity and operational efficiency. The added vessels are expected to support the corporation’s strategic goals in regional maritime trade.
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These acquisitions highlight PNSC’s commitment to modernizing Pakistan’s national fleet. The additional Aframax and MR-2 class vessels will provide greater logistical flexibility and strengthen the country’s position in international shipping markets.
With the fleet expansion, the Pakistan National Shipping Corporation continues to play a pivotal role in advancing Pakistan’s maritime capabilities while ensuring national shipping growth and efficiency.
