Pakistan National Shipping Corporation (PNSC) has signed a Memorandum of Understanding (MoU) with Shandong Xinxu Group Corporation Company of China, the company disclosed in a filing to the Pakistan Stock Exchange (PSX) on Wednesday.
The MoU aims to establish a framework of mutual cooperation and trust between the two entities to explore commercial opportunities and attract investment in Pakistan’s maritime sector.
Key areas of collaboration under the agreement include:
Joint or individual acquisition of cargo vessels—covering liquid bulk, dry bulk, and containerized ships—under ownership or profit-and-loss sharing arrangements.
Chartering of vessels by Xinxu to PNSC through time charter, spot charter, or bareboat charter agreements.
Provision of commercial, technical, and administrative vessel management services by PNSC, including marketing, crewing, maintenance, and regulatory compliance. These services may be compensated through fixed fees, variable charges, or profit-sharing models.
Potential financing by Xinxu in local or foreign currencies to support PNSC’s investments in vessels and floating platforms, on competitive commercial terms.