Home »Supplements » Pakistan National Shipping Corporation

  • News Desk
  • Mar 23rd, 2017
  • Comments Off on Pakistan National Shipping Corporation
Pakistan National Shipping Corporation (PNSC), is a National Flag Carrier enjoys a global presence in the shipping world with a fleet of nine (9) ships. It undertakes business operations in an internationally competitive environment, competes even for transportation of national imports and exports and earns most needed foreign exchange for Pakistan. PNSC fleet is a mix of double hull Aframax tankers, Panamax, Supramax, Handymax and Handysize bulk carriers, all of modern vintage, having a total deadweight carrying capacity of 681,806 metric tons. PNSC transports all types of dry and liquid bulk cargoes on several geographical routes covering almost entire world.

Pakistan Credit Rating Agency (PACRA) has granted an Entity Ratings of Long Term 'AA' to Pakistan National Shipping Corporation (PNSC) in February, 2017. This rating has been raised from PNSC's previous entity ratings of Long Term 'AA-'in 2016. The short-term ratings given to PNSC this year was 'A1+', while its 2016 short term ratings was also A1+. PNSC's Outlook has also remained constant at 'Stable'.

As per PACRA's report, the ratings reflect PNSC's strong ownership - majority owned by Government of Pakistan and its strategic significance as the country's flag carrier. On a stand-alone basis, PNSC's business profile has gained significant strength in recent years and exhibited by continuous improvement in business margins on account of efficient fleet utilization, better pricing strategy and cost management measures taken by the management.

Ministry of Ports and Shipping has granted first ever license to PNSC to operate ferry service on domestic and international routes. This license will make the PNSC capable to facilitate passengers on both domestic and international voyages through the ferry ships. It will also pave way and open new avenues in shipping sector.

Copyright Business Recorder, 2017


the author

Top
Close
Close