Karachi, July 24, 2025 – Pakistan’s maritime landscape is set to witness a transformative shift as the Pakistan National Shipping Corporation (PNSC) has entered into a strategic Memorandum of Understanding (MoU) with China’s Shandong Xinxu Group Corporation.
The landmark agreement was formalized during a signing ceremony attended by Federal Minister for Maritime Affairs, Muhammad Junaid Anwar Chaudhry, who hailed the move as a game-changer for Pakistan’s shipping industry.
Speaking at the event, the minister emphasized that this MoU marks a significant milestone in enhancing regional trade connectivity and boosting Pakistan’s presence in the global shipping sector. “The signing of this MoU symbolizes a growing partnership between Pakistan and China in the maritime domain, paving the way for future cooperation, investment, and development in Pakistan’s shipping industry,” he noted.
PNSC, headquartered in Karachi, serves as the country’s national flag carrier and operates under the Ministry of Maritime Affairs. Its collaboration with Xinxu Group, a Chinese industrial heavyweight based in Zibo City, Shandong Province, signals a commitment to expanding Pakistan’s maritime infrastructure and capabilities.
The MoU outlines several core areas of collaboration aimed at revitalizing the shipping sector. These include the joint or individual purchase of merchant vessels such as dry bulk carriers, liquid bulk tankers, and container ships. Additionally, leasing agreements will allow PNSC to utilize vessels owned by Xinxu through flexible chartering options, including spot, time, and bareboat charters.
Beyond vessel acquisition, the agreement allows PNSC to provide commercial, technical, and administrative management services. These services will cover key shipping operations such as vessel chartering, marketing strategies, revenue optimization, crew management, maintenance, and dry-docking — all tailored to enhance operational efficiency and regulatory compliance.
Importantly, the MoU also includes financing provisions, enabling Xinxu to provide investment capital to PNSC for ship acquisitions and floating platforms under competitive, mutually beneficial terms.