Pakistan-China maritime partnership set to revitalize shipping sector

Islamabad:  Pakistan’s maritime sector is poised for a major overhaul following the signing of a landmark Memorandum of Understanding (MoU) between the Pakistan National Shipping Corporation (PNSC) and China’s Shandong Xinxu Group– a move that signals deepening strategic and commercial maritime ties between the two all-weather allies.

Federal Minister for Maritime Affairs, Muhammad Junaid Anwar Chaudhry, while addressing the MoU signing ceremony in Islamabad, described the agreement as a “game-changer” for Pakistan’s shipping industry. “This MoU marks a historic step towards fostering a mutually beneficial maritime alliance between Pakistan and China,” he said, emphasizing its potential to elevate regional trade, economic connectivity, and Pakistan’s global maritime profile.

Under the agreement, both entities will collaborate in the acquisition, leasing, and co-ownership of merchant cargo vessels, including liquid tankers, dry bulk carriers, and container ships. The partnership also opens avenues for profit-sharing ventures, technical vessel management, and commercial services such as maintenance, crewing, marketing, and regulatory compliance.

Shandong Xinxu Group – a prominent Chinese shipping and trade conglomerate based in Zibo City, Shandong Province – will additionally provide financing solutions to PNSC under commercially viable terms. The minister underscored that such Chinese investments would inject much-needed vitality into Pakistan’s maritime sector while fostering trust and sustained economic cooperation.

“This strategic alliance builds on the shared vision of Pakistan and China to enhance blue economy collaboration and reinforces maritime cooperation as a pillar of our bilateral relationship,” the minister said.