Quetta Shipping Company (Private) Limited, a wholly owned subsidiary of the Pakistan National Shipping Corporation (PNSC), has signed a Memorandum of Agreement (MoA) to purchase an MR-II class tanker vessel, M.T. Stavanger Poseidon, with a deadweight tonnage (DWT) of 50,000 tonnes.
In a notice to the Pakistan Stock Exchange (PSX) on Wednesday, PNSC confirmed that the agreement marks another step in its ongoing fleet expansion programme. The vessel will be renamed M.T. Quetta upon acquisition.
Earlier this month, PNSC’s Board of Directors had approved the purchase of three ships worth a total of $193.115 million, aiming to increase the national fleet to 30 vessels by 2026. The approved acquisitions include:
- M.T. Lorex, to be renamed M.T. Karachi, priced at $74.5 million;
- M.T. Nafsika, to be renamed M.T. Lahore, also for $74.5 million; and
- M.T. Stavanger Poseidon, to be renamed M.T. Quetta, at a cost of $44.15 million.
The first two vessels are Aframax tankers, while the third is an MR-II class vessel.
In addition, PNSC has initiated the procurement of 12 more ships, issuing tenders for four LR-II, four MR-II, and four MR-I class vessels. The corporation is currently reviewing bids and conducting technical evaluations as part of its broader fleet enhancement strategy.
According to the government, the accelerated procurement drive is designed to expand Pakistan’s maritime capacity and reduce dependence on foreign shipping companies for the transport of energy and cargo.
