The Pakistan National Shipping Corporation has signed a Memorandum of Understanding (MoU) with Shandong Xinxu Group Corporation Company, a Chinese enterprise operating under Chinese law, to enhance cooperation and investment in Pakistan’s maritime sector.
The MoU establishes a framework of mutual trust and collaboration between the two entities, with the aim of unlocking commercial opportunities and promoting a favorable investment environment within the shipping industry.
Key areas of cooperation include the joint or individual acquisition of cargo vessels — such as liquid bulk carriers, dry bulk ships, and container vessels — through ownership or profit-and-loss sharing arrangements.
The agreement also outlines the possibility for Xinxu to charter vessels to PNSC under various models, including time charter, spot charter, or bareboat charter, according to a statement released to the Pakistan Stock Exchange.
In addition, PNSC may offer a range of management services for the vessels, covering commercial, technical, and administrative aspects such as chartering, marketing, crewing, maintenance, and regulatory compliance. These services may be compensated via fixed or variable management fees, or through profit-sharing agreements.
The MoU also opens the door for potential financing from Xinxu to PNSC in both local and foreign currencies, aimed at supporting investments in vessels and floating infrastructure. Such financing would be extended on competitive commercial terms.
