The Pakistan National Shipping Corporation (PNSC) has announced a significant development to the Pakistan Stock Exchange Limited today. PNSC has signed a Memorandum of Understanding (MOU) with the Shandong Xinxu Group Corporation, a company established under the laws of the People’s Republic of China.

This MOU establishes a relationship of cooperation and trust between the parties with the aim of achieving commercial benefits for both sides and creating favorable conditions for investments, primarily in the following areas of Pakistan’s maritime sector:

– Acquisition of cargo vessels (including liquid bulk, dry bulk, and containerized ships) through joint ownership, individual ownership, or profit-and-loss sharing arrangements.

– Chartering of ships by Xinxu to PNSC through time charter, spot charter, or bareboat charter agreements.

– PNSC may provide commercial, technical, and administrative management services for the vessels. This includes services such as chartering, marketing, crewing, maintenance, and regulatory compliance. Compensation for these services may be structured through fixed or variable management fees or profit-sharing arrangements.

– Xinxu may offer financing to PNSC in local or foreign currency to support investments in ships and other floating platforms. This funding will be provided on competitive commercial terms.

This partnership aims to enhance collaboration and investment within Pakistan’s maritime industry.