Selling and Buying the Ships

Report by Engineering Post

The Pakistan National Shipping corporation (PBSC) has a fleet of 12 vessels of various types and sizes i.e. 05 Bulk carriers, 05 Aframax tankers and 02 LR-1 Clean Product tankers with a total deadweight cargo carrying capacity of 938876 metric tonnes.

The PNSC has now completed the sale of two aging vessels, MT Lahore and MT Quetta, which have complete d their 20 years operational lifespan. Aframax vessels are named after the Average Freight Rate Assessment (AFRA) system which was developed by Shell Oil. These oil tankers have a capacity of under 120000 deadweight tonnes. Their typical dimensions range from 200 to 250 meters (656 to 820 feet) in length and 32 to 44 meters (105 to 144 feet) in width.

Both these vessels were owned by PNSC’s subsidiaries, Lahore Shipping Private limited and Quetta Shipping Private Limited.

According to the PNSC sources, duly aligns with the international maritime regulations that restrict older vessels from accessing multiple ports and oil terminals in Saudi Arabia and the United Arab Emirates (UAE).

In order to sustain its fleet’s capacity PNSC was now planning to acquire new ships to replace those sold.