The government through its Special Investment Facilitation Council (SIFC) has stepped in to revive a project to domestically build a containership as a feeder ship operated by the national shipping corporation. It would be the first large commercial vessel built in Pakistan in 40 years.
SIFC, which was launched by the government in 2023 to attract and facilitate foreign investment, reports after four months of work it was able to revive the project to build a 1,100 TEU feeder ship for the Pakistan National Shipping Company.
“This project positions PNSC to expand its share in the national feeder container business, reducing reliance on foreign shipping companies, and boosting Pakistan’s economic self-reliance in maritime trade,” said SIFC announcing the agreement. “Valued at $24.75 million, this contract allows PNSC to acquire the vessel at a significantly lower cost than international market prices, saving millions in foreign exchange, and strengthening Pakistan’s maritime industry. “
The plan was first announced in February 2024 with a contract signing ceremony with the Karachi Shipyard & Engineering Works. As the only shipbuilder in Pakistan, the project was hailed as a step forward for the industry and the company’s international competitiveness. The yard highlights it is well equipped to build ships up to 26,000 dwt including bulkers, tankers, tugs, dredgers, ferries, and fishing vessels.
Most of its work however is government contracts for frigates, corvettes, fleet tankers, and logistics ships for the Navy. Media reports indicate the last major commercial ship built domestically was in the 1970s.
Officials highlight that the Pakistan Navy is working with the Karachi shipyard and Pakistan National Shipping Corporation to make the project happen.
SIFC said the project was stalled for 277 days but through proactive engagement and consensus building among the stakeholders, it has been able to move it forward.
“The timely intervention of SIFC has been instrumental in reopening a historic chapter of commercial shipbuilding, marking a major step toward revitalizing Pakistan’s blue economy,” said the government agency. State media announcing the agreement over the weekend said it would help to reduce the dependence on foreign shipping companies.
No details were announced on the timing of the project. The vessel will be deployed in a feeder service. PNSC looks to expand its role in the container trade. Currently, the company operates a fleet of a dozen ships, mostly tankers and bulkers, with a total of just over 930,000 dwt.
