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.
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