PNSC acquires new MV Malakand ship

KARACHI: MV Malakand has been taken over physically at outer anchorage of the Port of Dalian China on December 27, 2010, spokesman Pakistan National Shipping Corporation (PNSC) said in a statement Tuesday.

Having inducted its third Bulk Carrier in fleet, Pakistan National Shipping Corporation has acquired its second Panamax, named “MALAKAND” for its subsidiary company, Malakand Shipping (Private) Limited, he said.

The MV MALAKAND is 76,830 metric tonne deadweight; with a gross tonnage of 40,040 having length 225m and breadth 32.20m. This Panamax Bulk Carrier was built in 2004 by Sasebo Heavy Industries Co Ltd Japan, the statement said. The vessel has been purchased from a company named Nafmar Maritime Limited of Marshal Island, a subsidiary of Target Marine SA, Greece, he added.

Acquisition of the ships were part of PNSC’s fleet development plan, whereas a sum of approximately Rs 70 million was paid through commercial loan which PNSC contracted with a consortium of commercial banks without government guarantee. These additions have increased PNSC’s total deadweight capacity (carrying capacity) to 565,319 metric tonne. The corporation is presently engaged in inducting modern tonnage to its fleet. The planned acquisition of ships in the five-year (2010 –2015) development plan is primarily based on modern and competitive tonnage with a view to serve Pakistan’s sea borne trade as well as providing competitive shipping services for the world trade. The five-year plan caters for induction of 2-3 modern handy size/supramax bulker within the current fiscal year, preferably before end of 1st quarter of 2011. Induction of a Product Tanker and an LNG carrier is also part of the fleet development plan, which will serve the energy sector of the country.

Inductions of Bulk Carriers, Product Tanker and a LNG carrier will provide PNSC with diversified business opportunities and enhance shipping tonnage to the targeted one million tonne. This will place Pakistan and PNSC in a prestigious position within shipping circles of the world at large and a lead contributor in the development of national economy.

With the outstanding support and valued guidance of Ministry of Ports & Shipping the turnaround of PNSC which started in year 2001, continued, as the corporation was blessed with successive dynamic leadership since then. The path of success and journey of progress will continue under the visionary leadership of its current chairman supported by the competent and vibrant Board of Directors, Executive Management and dedicated team of officers and staff. staff report – Dailytimes