PNSC transports 574,000 MT crude oil from Gulf amid regional tensions

The Pakistan National Shipping Corporation (PNSC) has transported around 574,000 metric tons of crude oil, giving a vital boost to the country’s oil reserves as supplies remain disrupted due to the closure of the Strait of Hormuz.

Since the war began more than two weeks ago, Iran has attacked several ships in the Gulf, in effect closing the strait, conduit for a fifth of the world's crude oil and liquefied natural gas, and driving up global energy prices.

Officials figures showed the crude oil was transported across eight to nine cargoes, along with 61,000 metric tons of gasoil under arrangements with Pakistan State Oil.

The oil was transported from high risk areas where many foreign shipping operators have cancelled shipments.

The PNSC also maintained stable freight rates for its shipments even as global charges rose by five to six times.

Officials said the corporation’s performance underscores the strategic importance of Pakistan-flagged vessels and national crews in maintaining supply chains during periods of crisis.

Earlier this week, M.T. Karachi became the first non-Iranian cargo to transit the Strait of Hormuz.

The Aframax tanker, operated by PNSC, transited the strait around March 15 after loading crude at Das Island in Abu Dhabi and later docked in Karachi.