Latest news with #VesselTrafficManagementSystems
Business Recorder
a day ago
- Business
- Business Recorder
PNSC eyes $700mn freight earnings amid fleet expansion
Pakistan National Shipping Corporation (PNSC) is expected 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, Muhammad Junaid Anwar Chaudhry, on Friday, read a statement. During the meeting, the minister was informed that PNSC currently manages approximately 11% of the country's cargo by volume and 4% by value. The national carrier is now targeting to increase its cargo handling to 52% by volume and 43% by value (excluding containerised cargo) within three years. PNSC is Pakistan's national flag carrier, primarily engaged in the transportation of dry bulk and liquid cargoes globally. It was established in 1979 by merging the National Shipping Corporation (NSC) and the Pakistan Shipping Corporation. PNSC operates under the Ministry of Maritime Affairs, Government of Pakistan. Presenting the business plan, the federal minister emphasised the need for PNSC to evolve into a globally competitive, technologically advanced, and environmentally sustainable organisation aligned with international maritime benchmarks. Pakistan to lease ships for PNSC to curb $4bn forex drain As per the statement, the government plans a phased renewal and expansion of PNSC's ageing fleet to enhance cargo capacity, fuel efficiency, and compliance with International Maritime Organization (IMO) standards, including those governing carbon emissions and ballast water management. 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. To fund the modernisation efforts, the plan advocates leveraging public-private partnerships, maritime leasing models, and tapping into global green shipping funds. The minister 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. Environmental sustainability remains central to the reform agenda.
Express Tribune
a day ago
- Business
- Express Tribune
PNSC eyes $700m freight earnings in 3 years
Pakistan National Shipping Corporation (PNSC) aims to generate an estimated $700 million in freight earnings by expanding its fleet to 34 vessels over the next three years, according to a statement released on Friday. The announcement was made during a high-level meeting chaired by Federal Minister for Maritime Affairs, Muhammad Junaid Anwar Chaudhry, outlining a new business strategy to revitalise the maritime and logistics sectors. The meeting was informed that PNSC currently handles around 11% of the country's cargo by volume and 4% by value. The national carrier is now targeting a substantial increase in its cargo share to 52% by volume and 43% by value, excluding containerised cargo, within three years. Presenting a forward-looking business plan, the minister described PNSC as central to enhancing Pakistan's maritime capabilities. He stressed the need for it to evolve into a globally competitive, technologically advanced, and environmentally sustainable entity aligned with international maritime standards. A key feature of the plan is the phased renewal and expansion of PNSC's aging fleet to boost cargo capacity, improve fuel efficiency, and ensure compliance with International Maritime Organisation (IMO) standards, including regulations on carbon emissions and ballast water management. To promote self-reliance, the minister proposed stronger collaboration between PNSC, Karachi Shipyard & Engineering Works, and local industries to enable domestic construction of modern cargo ships, oil tankers, and container vessels. This initiative is expected to generate skilled employment, strengthen local supply chains, and revive Pakistan's shipbuilding sector. The expansion plan also recommends leveraging public-private partnerships, maritime leasing models, and international green shipping funds to support modernisation without burdening the national budget. Digital transformation was highlighted as another key priority. The plan includes adoption of the Pakistan Single Window (PSW), Vessel Traffic Management Systems (VTMS), blockchain-based documentation, e-logistics solutions, and real-time cargo tracking to improve transparency and operational efficiency. Environmental sustainability is central to the agenda, with PNSC set to adopt cleaner fuels, retrofit vessels for energy efficiency, and align with global decarbonisation goals. Chaudhry reaffirmed PNSC's strategic role in securing maritime sovereignty, economic stability, and resilient supply chains amid global uncertainty.
