PNSC finalises financing deal

The Pakistan National Shipping Corporation (PNSC) has finalised a $135 million financing deal with ABN-Amro Bank for acquisition of three vessels. These new vessels include two Aframax class double-hull oil tankers and one Panamax class bulk carrier.

The vessel acquisition plan would cost $150 million, of which $135 million has been arranged through financing from ABN-Amro Bank, while the remaining $15 million will be provided by PNSC. Lack of new ships due to financial constraints has resulted in the gradual deterioration of the PNSC fleet.