Pakistan’s maritime sector is set for a major shift after a key agreement with a major Chinese shipping company. On July 24, the Ministry of Maritime Affairs announced that Pakistan National Shipping Corporation (PNSC) signed an MoU with China’s Shandong Xinxu Group. Federal Minister Junaid Anwar Chaudhry said the deal marks the beginning of a new era for the country’s shipping industry.
The signing ceremony was held in Islamabad and attended by officials from both sides. Minister Chaudhry highlighted that the agreement reflects growing Pakistan-China maritime cooperation. He noted that this move would enhance regional trade and connectivity while strengthening Pakistan’s global maritime presence. PNSC is Pakistan’s national flag carrier, based in Karachi, and operates under the maritime ministry.
The agreement sets up a long-term partnership between PNSC and Shandong Xinxu Group, a major Chinese player in global shipping and trade. It covers the joint or individual purchase of cargo vessels, including tankers, dry bulk carriers, and container ships. The vessels can also be leased to PNSC through different charter models such as time and spot charters.
Under the MoU, PNSC will also offer vessel management services including marketing, crewing, maintenance, and compliance. Both sides aim to share commercial and technical responsibilities to boost operations. These services will help improve efficiency and raise revenue across the board for Pakistan’s fleet.
Another key feature of the agreement is financing support from Xinxu Group to PNSC for ship purchases and maritime assets. These financial terms will be competitive and aim to benefit both parties equally. The minister stressed this partnership builds trust and opens new investment opportunities in Pakistan’s maritime sector.