Pakistan National Shipping Corporation (PNSC) has augmented its fleet with two new Aframax-class tankers, the Swan Lake and P. Aliki, bringing the total number of vessels to 12, and marking a significant step towards enhancing the nation’s maritime and energy transportation capabilities. This expansion was announced during a meeting between PNSC Chief Executive Officer Zarar Hussain and Federal Minister for Maritime Affairs, Muhammad Junaid Anwar Chaudhry on Thursday. The meeting also included Maritime Secretary Syed Zafar Ali Shah, other officials, and the leaders of Karachi Port Trust and Port Qasim Authority.

Minister Chaudhry emphasized that the acquisition of these tankers underscores the government’s dedication to bolstering the national shipping industry, with a stated objective of expanding the PNSC fleet to 20 vessels by the end of the year. He highlighted the crucial function of PNSC in conveying crude oil and petroleum products, explaining that Aframax tankers, with their capacity of 80,000 to 120,000 deadweight tonnes, are ideal for accessing ports that larger vessels cannot reach. This increased capacity is projected to improve Pakistan’s ability to manage its growing energy imports.

Recognizing that Pakistan relies on imports for roughly 70% of its energy requirements, mainly crude oil and refined products, Minister Chaudhry stressed that a larger national fleet will reduce dependence on international shipping companies. Pakistan currently spends an estimated $4.6 billion annually on freight charges to foreign transporters. By transporting more goods on its own ships, PNSC seeks to conserve valuable foreign exchange, boost earnings, and strengthen energy security.

Minister Chaudhry further revealed that PNSC is actively exploring new business opportunities domestically and internationally to revitalize the maritime sector and enhance supply chain stability in the face of global challenges.