The Pakistan National Shipping Corporation (PNSC) is in the final stages of a major acquisition deal for three oil tankers valued at over $193 million, a move designed to fast-track the expansion of the national fleet following a directive from the Federal Minister for Maritime Affairs, Muhammad Junaid Anwar Chaudhry.

During a detailed briefing on Friday, PNSC management confirmed to the minister that the Board has approved the purchase of the three secondhand vessels. The acquisitions include two Aframax tankers, MT Lorex and MT Nafsika, each costing USD 74.5 million, and one MR-2 class ship, MT Stavanger Poseidon, priced at USD 44.15 million.

The national carrier is now concluding negotiations with the vessel owners. Upon renaming, MT Lorex will become MT Karachi, MT Nafsika will be called MT Lahore, and MT Stavanger Poseidon will join the fleet as MT Quetta. Legal and commercial formalities are expected to be settled shortly, paving the way for the contracts to be signed.

Officials stated that the delivery of the three tankers is scheduled for late December 2025, at which point they will be formally integrated into the national shipping line. The due diligence and evaluation for this purchase were completed in strict compliance with public procurement regulations.

This acquisition is a significant step in a broader fleet enhancement program aiming to increase Pakistan’s maritime capacity to 30 ships by 2026. In line with this goal, PNSC has also initiated the procurement process for 12 additional vessels, having issued tenders for four LR-2, four MR-2, and four MR-1 class ships. The corporation is currently reviewing the submitted bids and conducting technical evaluations.

Minister Junaid Chaudhry emphasized the government’s commitment to bolstering the country’s maritime logistics. He noted that the accelerated enhancement of the national fleet will help expand Pakistan’s shipping footprint and critically reduce its reliance on foreign carriers for energy and cargo transportation.