ISLAMABAD, (UrduPoint / Pakistan Point News / WAM – 24th Jul, 2025) Pakistan’s maritime sector is poised for significant advancement following the signing of a Memorandum of Understanding (MoU) between the Pakistan National Shipping Corporation (PNSC) and China’s Shandong Xinxu Group Corporation.
According to the Associated Press of Pakistan (APP), the agreement was formalised during a ceremony attended by Pakistan’s Federal Minister for Maritime Affairs, Muhammad Junaid Anwar Chaudhry, alongside senior officials from both organisations.
Speaking on the occasion, Minister Chaudhry underscored the importance of the MoU as a milestone in the growing maritime partnership between Pakistan and China. He noted that the agreement lays a strong foundation for future cooperation, investment, and development in Pakistan’s shipping industry.
“This MoU symbolises a deepening collaboration in the maritime domain, enabling mutual growth and reinforcing Pakistan’s position within the global shipping ecosystem,” the minister stated.
Headquartered in Karachi, PNSC serves as the country’s leading national flag carrier under the Ministry of Maritime Affairs, while Shandong Xinxu Group Corporation, based in Zibo City, Shandong Province, is a prominent Chinese enterprise engaged in international trade and shipping.
The agreement establishes a strategic framework for cooperation and commercial engagement between the two entities, aimed at fostering investment and advancing mutual economic goals in the maritime sector.
Key areas of collaboration outlined in the MoU include the joint and individual sale and purchase of merchant cargo vessels — encompassing liquid bulk tankers, dry bulk carriers, and container ships — as well as arrangements based on profit and loss sharing models.
The MoU further provides for the leasing of vessels by Xinxu to PNSC through various chartering methods, including time charters, spot charters, and bareboat charters.
Additionally, PNSC will extend a range of commercial, technical, and administrative management services for vessels as mutually agreed. These services will cover vessel chartering, marketing, revenue optimisation, maintenance, dry-docking, crewing, and regulatory compliance.
The understanding also includes financing arrangements by Xinxu to support PNSC’s investment in ships and other floating platforms. These arrangements are to be governed by commercially competitive terms to ensure financial viability and mutual benefit.