GWADAR (Kashmir English): The National Logistics Corporation (NLC) -Vitol partnership has made history by completing the first ever bunkering operation at the Gwadar Port, with the provision of 2,500 metric tonnes of IMO-approved VLSFO to the LNG ship ENUGU, belonging to an entity operating from the United Arab Emirates (UAE).
The marine fuel used during this process has been refined at the facility of Cnergyico Pakistan Limited. The success of the first ever bunkering operation marks a milestone in the progress of the maritime industry and energy sector of Pakistan.
Industry experts are expecting that this success will go a long way in helping Pakistan emerge as a key player in maritime services in the region.
As per officials, the Gwadar Port provides a credible site for international ships for bunkering purposes especially when geopolitics is causing trouble in regional shipping routes.
PM Shehbaz Approves NLC’s 30% Stake in PNSC with Management Control
Earlier in Feburary, The Pakistan National Shipping Corporation announced that Prime Minister Shehbaz Sharif approved the National Logistics Corporation (NLC) to acquire a 30 percent stake in the state-owned shipping company, together with management control and consolidation rights.
The development was disclosed in a notice to the Pakistan Stock Exchange (PSX) on Tuesday. PNSC said it had received formal communication from the Ministry of Maritime Affairs confirming the prime minister’s approval, in line with applicable laws and the company’s by-laws.
NLC has officially declared its plan to execute the acquisition of shareholding and management control rights, which it will proceed with according to the filing.
The parties involved in the agreement decided to keep both financial details and the project completion schedule confidential. PNSC operates under the Ministry of Maritime Affairs to provide worldwide transportation services for dry bulk and liquid cargoes.
The company operates a fleet that consists of 12 vessels, which together have a total deadweight capacity of 938876 tonnes. Beyond its shipping operations, the company operates both a real estate business and a repair workshop.
