Pakistan National Shipping Corporation (PNSC) announced that its wholly owned subsidiaries have signed a Memorandum of Agreement to purchase two Aframax tankers.
As reported earlier by Profit, the deal involves Karachi Shipping (Pvt) Ltd., which will acquire the tanker LORAX with a deadweight of 109,990 tonnes, and Lahore Shipping (Pvt) Ltd., which will acquire NAFSIKA with a deadweight of 112,051 tonnes.
The move is aimed at expanding PNSC’s shipping capacity and strengthening its fleet for domestic and international operations. The corporation conveyed the development to the Pakistan Stock Exchange in compliance with Section 96 of the Securities Act, 2015, and PSX regulations.
The addition of these tankers is expected to enhance the operational capabilities of PNSC’s subsidiaries, supporting growth in maritime trade and transport.
Last week, the PNSC Board approved the acquisition of three secondhand Aframax and MR-2 class oil tankers after completing due diligence and evaluation in line with public procurement rules. The approved vessels include MT Lorex (to be renamed MT Karachi) and MT Nafsika (to be renamed MT Lahore), each costing $74.5 million, and MT Stavanger Poseidon (to be renamed MT Quetta), valued at $44.15 million.
