PNSC Partners with China’s Xinxu Group to Boost Maritime Sector
Pakistan's shipping industry is poised for a significant transformation following the signing of a strategic Memorandum of Understanding (MoU) between the Pakistan National Shipping Corporation (PNSC) and China's Shandong Xinxu Group. The agreement, announced by Federal Minister for Maritime Affairs Muhammad Junaid Anwar Chaudhry, underscores the strengthening maritime partnership between the two nations.
Speaking at the MoU signing ceremony, the minister highlighted the significance of this development in enhancing regional trade, fostering investment, and positioning Pakistan as a key player in the global shipping arena. He noted that the accord marks a milestone in bilateral cooperation, aiming to modernize the maritime sector through shared economic objectives.
P.c. China Pakistan Economic Corridor
PNSC, Pakistan’s national flag carrier based in Karachi, will collaborate with Shandong Xinxu Group, a major Chinese enterprise from Zibo City, engaged in global trade and maritime logistics. The MoU sets the foundation for mutual trust and outlines comprehensive collaboration in vessel acquisition, leasing, and shipping services.
Key areas covered under the agreement include the sale and purchase of merchant cargo vessels—ranging from liquid bulk tankers to dry bulk carriers and container ships—under various ownership and profit-sharing structures. The deal also incorporates charter arrangements such as time charters, spot charters, and bareboat leases, enabling Xinxu to lease vessels to PNSC.
In addition to vessel procurement, the MoU allows PNSC to provide a suite of services including commercial operations, technical support, marketing, revenue management, maintenance, crewing, and compliance. Financial support from Xinxu will also be extended to PNSC for ship investments and floating platforms, governed by competitive commercial terms to ensure long-term sustainability and profitability.
This collaboration reflects a broader vision of economic integration, increased connectivity, and enhanced maritime infrastructure between Pakistan and China—marking another milestone under the broader China-Pakistan cooperation framework.