Pak National Shipping Corporation signs MOU with Chinese group to boost maritime collaboration

The Pakistan National Shipping Corporation (PNSC) has taken a significant step to strengthen its maritime presence by signing a strategic Memorandum of Understanding (MOU) with China’s Shandong Xinzu Group Corporation.

Announced Thursday at the Pakistan Stock Exchange, this 12-month non-binding agreement aims to foster cooperation in vessel ownership, chartering, technical management, and financing.

PNSC officials describe the MOU as laying the groundwork to attract investments in Pakistan’s maritime sector and explore joint business opportunities in international shipping.

Established in 1979 through the merger of the National Shipping Corporation and Pakistan Shipping Corporation, PNSC currently handles about 11% of the country’s cargo by volume.

It plans to expand its fleet from the current size to 34 vessels within three years, targeting $700 million in freight revenue.

While the MOU does not involve any binding commitments, it marks a growing interest in deepening maritime collaboration between Pakistan and China. The partnership aligns with Pakistan’s ongoing efforts to modernize its shipping infrastructure and reduce reliance on foreign carriers.

It also follows initiatives by Pakistan’s Ministry of Maritime Affairs to boost foreign investment and improve operational efficiency in the shipping sector.

Officials believe this cooperation with Xinzu could pave the way for future joint ventures and technology transfer, with further details on vessel types, financing, and timelines to be announced as the partnership progresses.