Junaid Anwar Chaudhry launches strategic container vessel project at Karachi
In a significant move to bolster its maritime sector, Pakistan has initiated the construction of a 1,100 twenty-foot equivalent unit (TEU) container vessel for the Pakistan National Shipping Corporation (PNSC). The steel-cutting ceremony took place at Karachi Shipyard and Engineering Works (KSEW), with Federal Minister for Maritime Affairs Muhammad Junaid Anwar Chaudhry leading the inauguration. This project aims to enhance the country’s shipping capabilities and reduce dependence on foreign shipping lines.
Strengthening Maritime Infrastructure
During the ceremony, Minister Chaudhry emphasized that the construction of the vessel marks a strategic milestone for Pakistan’s maritime industry. He highlighted the government’s commitment to revitalizing both the shipping and shipbuilding sectors, aligning them with national economic priorities. The new vessel will be built using local resources and expertise, showcasing Pakistan’s growing shipbuilding capacity.
Chaudhry pointed out that constructing the ship domestically will not only strengthen the country’s maritime infrastructure but also significantly reduce reliance on foreign carriers. The addition of this new vessel to the PNSC fleet is expected to conserve foreign exchange by minimizing freight payments to international shipping companies. This development is crucial, as nearly 95 percent of Pakistan’s trade volume is transported by sea, making a robust maritime sector vital for the nation’s economic stability and growth.
The minister also noted that the project will create numerous employment opportunities for skilled and semi-skilled workers, contributing to industrial growth and technology transfer at Karachi Shipyard. Once completed, the new container vessel is anticipated to enhance PNSC’s operational capacity and competitiveness, particularly in the context of global supply chain volatility.
Commitment to the Blue Economy
Chaudhry reaffirmed the government’s dedication to ongoing investment in shipbuilding and shipping as part of broader efforts to lower logistics costs and improve trade efficiency. He underscored the importance of these sectors in supporting Pakistan’s blue economy, which is essential for sustainable economic development. The construction of the new vessel is a step towards achieving these goals, ensuring that Pakistan can effectively manage its trade logistics in an increasingly complex global market.
As the project progresses, it is expected to play a pivotal role in enhancing the capabilities of the PNSC, ultimately supporting Pakistan’s import-export trade and contributing to the nation’s overall economic growth.
