port-and-ship
06 March 2025
Maritime Logistics Professionalport-and-ship
Mar 06, 2025Maritime Logistics Professional
March 6, 2025
Vopak has reached a final investment decision in expanding its global industrial terminal footprint by constructing a 160,000 cubic meter tank infrastructure in Map Ta Phut, Rayong, to support the import of U.S. ethane into Thailand. Vopak's joint venture entity Thai Tank Terminal signed a landmark 15-year contract with PTT Global Chemical Public Company Limited GC, a chemicals company, for the storage and handling of ethane in Thailand. The tank is expected to be completed by 2029.
Ethane will serve as a long term feedstock supply for petrochemical crackers, enhancing cost competitiveness, feedstock security and reinforcing Thailand's leadership position in the global chemical industry. Ethane has a lower carbon footprint compared to conventional feedstocks like naphtha, aligning with GCs commitment to sustainable and responsible operations.
As part of Vopak's investment strategy in Thailand, Vopak plans to allocate approximately $140 million over the next four years related to storage and other infrastructure in the Map Ta Phut region. These investments are not related to any specific project and are expected to provide accretive operating cash return upon commissioning.
0
Recent CommentsPort and Ship Related News You might want to check out
View by
Global Trade Grew $300 Billion In The First Half Of 2025, Led By Us Imports And Eu Exportsin International Shipping News
10/07/2025
But persistent policy uncertainty, geopolitical tensions and signs of slowing global growth pose risks for trade in the second half of the year.
Global trade expanded by an estimated $300 billion in the first half of 2025, despite a slower pace of growth, according to the latest Global Trade Update released on 8 July by UN Trade and Development (UNCTAD).
Global trade rose by about 1.5% in the first quarter, with growth expected to accelerate to 2% in the second quarter. Trade in services remained the main engine of annual growth, rising 9% over the last four quarters.
Price increases contributed to the overall rise in trade value. Prices for traded goods edged up in the first quarter and likely continued to rise in the second, while trade volumes grew by just 1%.
Developed economies regain lead in trade growth
Developed economies outpaced developing countries in the first quarter of 2025, reversing recent trends that had favoured the Global South. The shift was driven by a 14% surge in United States imports and a 6% jump in European Union exports.
In contrast, developing countries saw a 2% drop in imports. South-South trade stagnated overall, though Africa bucked the trend with exports up 5% and intraregional trade growing 16% year on year.
Global trade imbalances widen
Trade imbalances deepened during the last four quarters, with the US posting a larger deficit and China and the European Union recording growing surpluses.
Bilateral gaps also widened between the US and key partners, including China ($360 billion annual deficit), the EU ($276 billion) and Viet Nam ($116 billion).
Outlook uncertain as trade faces policy risks and geopolitical headwinds
The report warns that global trade faces mounting headwinds in the second half of 2025, amid persistent policy uncertainty, geopolitical tensions and signs of slowing global growth.
New US tariffs – including a 10% baseline rate and additional duties on steel and aluminum – have raised the risk of trade fragmentation. And while retaliatory measures have so far been limited, a further wave of unilateral actions could trigger escalation, spilling over to third-party countries and destabilizing supply chains.
Domestic subsidies and inward-looking industrial policies are also expected to intensify, particularly in strategic and high-tech sectors. These measures risk disrupting deeply integrated production networks, with uncertainty in one segment spilling over to others.
Still, signs of resilience remain. Freight indices have rebounded from early-2025 lows, regional integration is strengthening, and services trade may continue its robust growth.
UNCTAD says that continued resilience in the second half of 2025 will depend on “policy clarity, geoeconomic developments and supply chain adaptability.”
Source: UNCTAD
Hellenic Shipping News
port-and-ship
10 July 20253 min readGlobal Trade Grew $300 Billion In The First Half Of 2025, Led By Us Imports And Eu Exports
Hellenic Shipping News
10 July 2025
port-and-ship
Cma Cgm Hits 4M Teu MilestoneAlphaliner is reporting French container shipping giant CMA CGM has officially crossed the 4m teu threshold in operated capacity this week. The achievement cements CMA CGM’s position as the world’s third-largest container carrier, trailing only MSC (6.7m teu) and Maersk (4.6m teu).
This latest milestone represents a quadrupling of CMA CGM’s size over the past 16 years (see chart below). The group, founded in 1978 and still privately owned by the Saadé family, reached its first 1m teu in 2009, followed by 2m teu in 2016 and 3m teu in 2021.
CMA CGM’s storied growth path includes major acquisitions that reshaped its global footprint. Landmark deals include the purchase of French state-owned CGM in 1996, Australian carrier ANL in 1998, Delmas in 2005, and the high-profile acquisition of American President Line (APL) in 2016.
Additionally, the group has absorbed several regional players, including MacAndrews, Cheng Lie Navigation, OPDR, Mercosul Line, and Containerships Oy.
Today, the Marseille-based group operates a fleet of 683 container vessels, both owned and chartered. CMA CGM also boasts the industry’s second-largest orderbook, with 95 vessels on order totalling 1.5m teu.
With its substantial newbuild program, CMA CGM is positioning itself to challenge Maersk’s number two position on the Alphaliner rankings. While Maersk currently maintains 4.6m teu in operated capacity, the Danish giant has signalled it does not intend to grow beyond this level, instead focusing on replacing older ships with a 682,000 teu orderbook.
Over the past five years, the cash-rich Saadé family has been steering CMA CGM beyond its core shipping business, expanding into logistics, air freight, and media.
Splash247
port-and-ship
09 July 20252 min readCma Cgm Hits 4M Teu Milestone
Splash247
09 July 2025
port-and-ship
Adani Krishnapatnam Port Hits Record 5.85M Tonnes In JuneThe figure surpasses the previous record set by Krishnapatnam Port of 5.74 million metric tonnes (MMT), set one month earlier, marking the second consecutive month of record throughput.
The increase in volume has been linked to coordinated ground operations and internal team performance, according to the company.
AKPL is located on the eastern coast of India and operates as part of Adani Ports and SEZ Limited (APSEZ).
The port is one of several key facilities contributing to India’s maritime cargo throughput.
READ: Adani’s Colombo terminal begins operations
Jagdish Patel, CEO of AKPL, commented on the performance: “This milestone is a testament to the relentless efforts, seamless coordination, and unwavering dedication of every team member.
“Heartfelt thanks to our teams, vendor partners, and valued customers for making this possible. It is a moment of great pride, only the second time since the port’s inception that such a volume has been achieved.”
Recently, Adani Gangavaram Port set a new benchmark in coastal cargo handling by loading 61,317 metric tonnes in just 24 hours aboard the vessel MV Star Nasia for TANGEDCO. The port’s record-breaking performance was enabled by the strategic deployment of advanced equipment, including Mobile Harbour Cranes, E-GSCs (Electronic Grab Ship Unloaders), enhanced railway infrastructure, and mechanised yards.
Port Technology International
port-and-ship
08 July 20252 min readAdani Krishnapatnam Port Hits Record 5.85M Tonnes In June
Port Technology International
08 July 2025
port-and-ship
Port Of Hamburg Announces €1 Billion Terminal InvestmentNavigation towards the Container Terminals Buchardkai (CTB) and Container Terminal Hamburg (CTH) will reportedly be easier and faster following the enhancement. New land for terminal operations will create additional capacity and enable further modernisation of container throughput operations.
Around 90 per cent of the largest container vessels calling at Hamburg are currently handled at the Waltershofer Hafen. The turning basin will be widened from its current 480 metres to 600 metres.
Vessels will have a larger water surface available for turning manoeuvres, ensuring optimal performance and safety. This is expected to enhance navigational safety and operational efficiency for current and future vessel sizes at Hamburg’s busiest container throughput area while improving navigability and resilience along the River Elbe.
All berths in the Waltershofer Hafen will reportedly benefit from this measure, which is expected to increase throughput efficiency. The creation of additional berths will also improve terminal workflows: going forward, processes can be automated and electrified – a key contribution to decarbonisation.
READ: Port of Hamburg celebrates anniversary with double christening
Public funding will cover part of the costs. Preliminary estimates indicate a total cost in the region of €1.1 billion ($1.29 billion). The infrastructure works are to be completed by the Hamburg Port Authority (HPA) by the mid-2030s.
In addition to public investment, Eurogate has signed a preliminary lease agreement for the new areas and will invest at least €700 million ($821 million) in expanding the existing container terminal, with completion planned within two years of the handover of the newly developed land.
READ: Hamburg SeaClear 2.0 system uses AI to tackle plastic waste
Jens Meier, CEO of Hamburg Port Authority: “This project will enhance the performance of the Port of Hamburg and represents a vital investment in its long-term competitiveness.
“In doing so, we are also laying the groundwork for the next steps towards a climate-neutral port. As a first step, the HPA will update the planning before proceeding with construction, due to finish by mid-2030s.”
Last month, representatives from the Hamburg Port Authority (HPA) and Ocean Network Express (ONE) signed an agreement to advance the use of shore power in the Port of Hamburg.
Port Technology International
port-and-ship
08 July 20252 min readPort Of Hamburg Announces €1 Billion Terminal Investment
Port Technology International
08 July 2025
port-and-ship
India Detains Msc Ship As It Seeks $1B In Compensation For Msc Elsa 3The Kerala State Government in India followed through on its earlier assertions and filed a compensation claim in the courts against MSC for damages as a result of the loss of the MSC Elsa 3 off the coast in late May. As part of the claim, the High Court ordered the MSC Akiteta II, which was in port in India, detained until the company can post a bond in the case.
The admiralty court case seeks damages, citing the impact on the economy, environment, and the livelihood of fishermen following the sinking of the ship. In addition to the direct costs, the state claims a loss of confidence, which will have a long-term impact on business.
The total claim is for $1.1 billion, with the bulk, $1 billion, for damages as a result of pollution. It is also seeking $44 million to restore the environment and a further $61.3 million in economic loss for the fishing community.
While there has been a minimal release of oil that was stopped by divers who capped the tanks, media reports cite a range of impacts. A total of 61 containers have been retrieved from the 643 that were aboard the ship when it went down. The Directorate General of Shipping reported that as of the beginning of July, an estimated 450 to 500 tonnes of nurdles have been collected from the shoreline. Volunteers continue to comb the beaches.
The media also reports that six large carcasses have been retrieved, including a dolphin and a whale. They are suspected of having died due to exposure to the microplastics or other toxic substances from the vessel.
MSC Akiteta II (30,592 dwt) happened to be the vessel in the Vizhinjam port when the case was filed. Built in 2001 and with a capacity of 2,226 TEU, it is slightly larger than the MSC Elsa 3 (1,730 TEU). The court ruled it was acceptable collateral and that it would be held pending MSC posting a bond. The court has permitted the vessel to continue to load and unload containers, but it is not permitted to depart. A hearing was scheduled for July 10.
The court followed a similar pattern with some of the individual claims that have already been filed. Other MSC vessels were detained until bonds were posted.
The case was filed while the investigation into possible safety lapses is ongoing. Previously, the Indian authorities contended the containers were improperly handled and secured. The media writes that an interim report has been sent to the Directorate General of Shipping, but it is still pending information from the VDR. The equipment was retrieved last month by divers and was taken ashore to be analyzed. The captain and crew of the ship remain in Kochi facing charges from the local police related to negligence in handling of the vessel and the dangerous cargo aboard.
Clean-up efforts for the vessel are also stalled pending a change in salvage companies. After the first phase was completed, which included capping the oil leaks, MSC elected to change salvage companies for the next phase. SMIT has filed a new plan with the government and reports that its equipment and divers will be arriving in India later this month. Weather permitting, they hope to begin diving on the wreck in August, and the plan calls for siphoning the fuel from the vessel’s tanks.
Maritime Executive
port-and-ship
08 July 20253 min readIndia Detains Msc Ship As It Seeks $1B In Compensation For Msc Elsa 3
Maritime Executive
08 July 2025
port-and-ship
Shipping Corp Buys Two Vlgcs For $127 MillionShipping Corporation of India Ltd (SCI) has agreed to buy two second-hand very large gas carriers (VLGCs) for some $127 million, the carrier’s first ship purchase in eight years as it shrugs off a privatisation plan that has lost steam. The two VLGCs, each with a capacity to carry about 82,000 cubic metres (CBM) of liquefied petroleum gas (LPG), will add some ₹260 crore in annual revenue to the company at the prevailing time charter rate of about $41-42,000 a day for one-year charter, shipping industry sources said.
These two VLGCs are expected to be inducted into the SCI’s fleet during the current quarter of FY 2025–26,” Shipping Corporation said in a regulatory filing. It did not disclose the details of the ship acquisition, including the price.
However, shipbrokers said that the two VLGCs could be ‘Bu Sidra’ and ‘Lubara’ owned by Milaha VLGC Ltd, a unit of Qatar Navigation Q.P.S.C (Milaha). Both the ships were built in South Korea – ‘Bu Sidra’ in 2008 and ‘Lubara’ in 2009.
Second hand VLGCs are currently valued at some $60-65 million in the global market, almost at all-time highs. On June 13, the Reserve Bank of India (RBI) eased rules, allowing importers to make advance remittance for import of ships without a bank guarantee or an unconditional, irrevocable standby letter of credit for up to $50 million, from the earlier limit of $5 million.
Shipping Corporation is expected to deploy the two VLGCs with one of the state-run oil marketing companies after converting them to the Indian flag. India’s LPG demand is growing at 4-6 per cent per annum. This growth in consumption is met only by imports because local production is stagnant.
That means, this 4-6 per cent growth in consumption leads to about 8 per cent increase in imports. So, there is a requirement for more ships. “India’s LPG volumes are going to grow; so, there is definitely demand for VLGCs,” said a shipping industry source.
SCI will utilise the ₹133.85 crore left from the funds raised through a follow-on public offer (FPO) in December 2010, the proceeds from which were mainly intended to buy ships.
Shipping Corporation of India last expanded its fleet in FY2017 when it acquired four vessels – two platform supply vessels, one VLGC and one Suezmax tanker – all second-hand.
Historically, the carrier has acquired new ships by placing orders at shipyards. Like in FY17, this would be one of the rare instances where it has tapped the second-hand ship market to quickly bolster its fleet.
In December 2020, the Department of Investment and Public Asset Management (DIPAM), the government’s asset sale department, started the process of privatising Shipping Corporation of India, a so-called ‘navratna’ public sector undertaking, by selling the government’s 63.75 per cent stake to a strategic buyer. This put the brakes on the fleet expansion plan.
The sale process, though, is as good as abandoned now.
Shipping Corp is close to buying one container ship and one medium range oil tanker, both second-hand, following a due diligence currently underway, sources said.
SCI is India’s biggest shipping company by fleet size and is the country’s only shipping company that owns very large crude carriers or so-called oil supertankers. It runs 59 ships, including five VLCC’s.
To achieve the objective of ‘Atmanirbhar Bharat’, the Union Cabinet approved a scheme in 2021 to provide ₹1,624 crore as subsidy over a period of five years to Indian shipping companies in global tenders floated by ministries, departments and Central Public Sector Enterprises (CPSEs) for importing government cargo.
The Cabinet has considered crude, liquefied petroleum gas (LPG), coal and fertiliser cargo only for disbursement of subsidy. Of the ₹1,624 crore budgeted, ₹931.46 crore has been earmarked for crude while ₹520.76 has been set aside for LPG shipments. For coal, the subsidy is ₹155.61 crore while for fertilisers, it is ₹16.23 crore.
Under the RoFR rules, local shipping companies get a right to match the lowest rate offered by a foreign flag vessel in tenders issued by state-run firms. If Indian shipping companies decline, then only the foreign flag ship that had quoted the lowest rate is allowed to carry the cargo. The RoFR policy will be triggered only when the rate quoted by the Indian participants in a tender is within the 20 per cent range of the lowest bid offered by a foreign ship owner, per the purchase price preference given by the government to Indian entities.
Maritime Gateway
port-and-ship
07 July 20254 min readShipping Corp Buys Two Vlgcs For $127 Million
Maritime Gateway
07 July 2025
port-and-ship
Ports Of Seattle, Tacoma Drive $55 Billion Output In 2023Collectively, the three port authorities contributed $17.7 billion in wages and benefits and $55 billion in total business output last year.
The NWSA handled nearly 3 million TEUs in 2023, supporting 52,100 jobs, including 18,000 directly tied to marine cargo, and generating $4.4 billion in wages and $14 billion in business output.
The Port of Tacoma, through both NWSA’s South Harbor and independent port activity, contributed to 41,000 jobs, $3.4 billion in wages, and $10.8 billion in output.
READ: NWSA March TEUs grow 18 per cent
John McCarthy, NWSA Co-Chair and Port of Tacoma Commission President, said: “We aren’t just dependent on trade, we excel at it. That trade excellence also serves the rest of the country. We serve a role of national importance and impact.”
While aviation remains the Port of Seattle’s largest business segment, its maritime sectors—including cargo handling, cruise, commercial fishing, and real estate—made significant contributions.
Combined, these supported 10 of thousands of jobs and billions in economic output.
The study provides the first integrated view of the Seattle–Tacoma gateway’s full economic footprint across all port-related sectors, reinforcing its strategic importance to both regional and national trade.
Last month, NWSA recorded a 21.2 per cent decline in full international imports in May 2025 compared to the same month last year. The fall is partly attributed to shipping decisions impacted by ongoing tariff uncertainty, as full international exports also dropped by 10.7 per cent.
Port Technology International
port-and-ship
04 July 20252 min readPorts Of Seattle, Tacoma Drive $55 Billion Output In 2023
Port Technology International
04 July 2025
port-and-ship
Ukraine’S Naftogaz To Buy 140 Million Cubic Metres Of Us Lng From OrlenUkraine’s state energy firm Naftogaz has signed a contract to buy 140 million cubic metres (mcm) of U.S. LNG from Poland’s Orlen PKN, Naftogaz said on Wednesday.
Ukraine needs to import large volumes of gas ahead of the 2025/26 heating season after Russian shelling left its storage sites almost empty.
“Naftogaz is diversifying its sources and routes of gas supply. This enhances Ukraine’s energy security and resilience amid the ongoing full-scale war with Russia,” Naftogaz CEO Sergii Koretskyi said in a statement.
Naftogaz said that it had already contracted a total of 440 mcm of LNG from Orlen.
The company added that the gas would be regasified at the LNG terminal in Świnoujście in Poland or the Klaipėda terminal in Lithuania and transported to Ukraine via the Polish gas transmission system.
A previous contract with Orlen for 100 mcm was signed in April.
Ukrainian energy minister German Galushchenko said last month that Ukraine needed to import at least 4.6 bcm of gas for the 2025/26 winter heating season.
Analysis firm ExPro said this week that gas reserves in Ukrainian storage facilities exceeded 8 billion cubic metres (bcm) as of June 28 but remain at their lowest level in the last 11 years.
Ukrainian energy officials have said the country needs to accumulate around 13 bcm of gas for the new heating season.
The data of Ukraine’s gas transmission operator showed that the country would import about 26.4 mcm of gas on Wednesday versus 26.5 mcm on Tuesday. Gas would come from Poland – 8.2 mcm, Hungary – 9.6 mcm and Slovakia – 6.8 mcm.
Ukrainian underground gas storage facilities are the largest in Europe and the third largest in the world and can store around 30 bcm of gas.
Source: Reuters
Bunker Port News Worldwide
port-and-ship
03 July 20252 min readUkraine’S Naftogaz To Buy 140 Million Cubic Metres Of Us Lng From Orlen
Bunker Port News Worldwide
03 July 2025
port-and-ship
Tti Algeciras Submits €150 Million Expansion Plan To ApbaThe proposed development covers an additional 160,000 square metres and represents a planned investment of €150 million ($177 million).
This expansion will enable the terminal to increase its annual throughput by up to 500,000 TEU, raising its total handling capacity to 2.1 million TEU.
The investment will also extend the terminal’s concession period until 2065, reinforcing the company’s long-term commitment to the port.
READ: AllRead deploys artificial solution at Port of Algeciras
Since welcoming its first vessel on 5 May 2010 and becoming the first semi-automated terminal in the Mediterranean and Southern Europe, TTI Algeciras has handled nearly 18 million TEU, a milestone expected to be surpassed this year.
This growth has helped establish the Port of Algeciras as a leading transhipment hub in Southern Europe and a vital gateway for import and export flows across mainland Spain.
Situated on the European shore of the Strait of Gibraltar, TTI Algeciras is a strategic terminal for its main shareholders: South Korean shipping line HMM (holding 50 per cent plus one share) and, since February 2021, the CMA CGM Group (holding 50 per cent minus one share), a global player in sea, land, air, and logistics solutions.
READ: COSCO SHANGHAI joins CMA CGM’s Transatlantic service
CMA CGM is also historically a major customer of the terminal.
Each week, TTI Algeciras receives some of the world’s largest container vessels, including the HMM Algeciras (23,964 TEU) and CMA CGM’s 23,000 TEU LNG-powered ships, such as the CMA CGM Jacques Saadé.
Alonso Luque, CEO of TTI Algeciras, commented: “This expansion is the natural evolution of more than a decade of steady growth with operational and commercial excellence.
“The project not only adds much-needed physical capacity but also positions us to take on new service opportunities and larger vessels, while maintaining the flexibility and efficiency that have defined our terminal from the beginning.”
Earlier in April, the Port of Algeciras marked a milestone as the site of Axpo’s first LNG ship-to-ship delivery, expanding the Swiss energy producer’s bunkering operations to a second Spanish port. During the operation, the 7,500-cubic-metre (cbm) vessel Avenir Aspiration supplied approximately 5,000 cbm of LNG to the MSC Mariacristina.
Port Technology International
port-and-ship
03 July 20252 min readTti Algeciras Submits €150 Million Expansion Plan To Apba
Port Technology International
03 July 2025
port-and-ship
Uae Ship Arrives At Ashdod Port With 2500 Tonnes Of Aid For PalestiniansThe UAE sent a ship with aid and essential supplies for the people of Gaza.
The vessel docked at Ashdod Port before the 2500 tonnes of cargo were unloaded to be sent to the people via trucks.
The shipment included food packages, flour, milk, tea, dates, etc, aimed to support the people and alleviate their suffering so they can atleast withstand the famine which threatens their lives, per Wam.
Thousands of Palestinians have died, and many have been displaced, torn apart from family members or buried alive after debris from Israeli missiles fell on their homes. Not to forget the food and water shortage, a collapse of the basic living conditions.
The aid was delivered under the UAE’s Operation Chivalrous Knight 3 project, launched in 2023 by President Sheikh Mohamed and is carried out in cooperation with Emirates Red Crescent and other charitable organisations in the UAE.
Disclaimer : The information contained in this website is for general information purposes only. While we endeavour to keep the information up to date and correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, or related graphics contained on the website for any purpose. Any reliance you place on such information is therefore strictly at your own risk.
In no event will we be liable for any loss or damage including without limitation, indirect or consequential loss or damage, or any loss or damage whatsoever arising from loss of data or profits arising out of, or in connection with, the use of this website.
Disclaimer : The information contained in this website is for general information purposes only. While we endeavour to keep the information up to date and correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, or related graphics contained on the website for any purpose. Any reliance you place on such information is therefore strictly at your own risk.
Do you have info to share with us ? Suggest a correction
Marine Insight
port-and-ship
03 July 20252 min readUae Ship Arrives At Ashdod Port With 2500 Tonnes Of Aid For Palestinians
Marine Insight
03 July 2025
port-and-ship
Pakistan Eyes $700 Million In Freight Earnings By Expanding Shipping Fleet — Maritime Ministryin International Shipping News
01/07/2025
The state-run Pakistan National Shipping Corporation (PNSC) is set to buy at least 24 more vessels in the next three years to generate an estimated $700 million in freight earnings, the maritime ministry said on Friday.
Pakistan currently owns 10 ships including five double-hull Aframax oil tankers and as many Supramax and Panamax bulk carriers.
“The national carrier is now targeting to increase its cargo handling to 52 percent by volume and 43 percent by value (excluding containerized cargo) within three years,” the ministry said in a statement.
Federal Minister for Maritime Affairs Muhammad Junaid Anwar Chaudhry announced the three-year plan in a meeting held in Islamabad to discuss the government’s business strategy to revitalize the maritime and logistics sectors.
The move is part of Prime Minister Shehbaz Sharif’s strategy to renew and expand Pakistan’s aging shipping fleet in a phased manner to enhance cargo capacity, fuel efficiency and compliance with International Maritime Organization standards, including those governing carbon emissions and ballast water management.
The plan, if implemented, would boost the revenues of the national flag-carrier, whose income from shipping business declined 18 percent to Rs25 billion ($88.5 million) in July–March this year compared to the previous one, according to PNSC’s financial results posted on the Pakistan Stock Exchange website.
Muhammad Arshad, the ministry spokesman, told Arab News that Pakistan’s current fleet will be more than doubled with the induction of 13 vessels in the first year.
Eight vessels will be bought in the second year and three in the third, which would take the total to 34 vessels in Pakistan’s fleet by 2028.
“PNSC currently manages approximately 11 percent of the country’s cargo by volume and 4 percent by value,” the ministry said.
During the meeting, the minister proposed deepening collaboration between the PNSC, Karachi Shipyard & Engineering Works and local industries for the local manufacturing of modern cargo vessels, oil tankers and container carriers.
“This initiative is expected to create skilled employment, strengthen local supply chains, boost industrial activity and rejuvenate Pakistan’s shipbuilding sector, positioning the country as a regional maritime hub,” it said.
The cash-strapped country plans to finance its modernization efforts without burdening the treasury through leveraging public-private partnerships, maritime leasing models and tapping into global green shipping funds.
The government is trying to revive Pakistan’s debt-ridden economy with the help of the International Monetary Fund and has set a tax revenue target of Rs14.3 trillion ($50 billion) for the next financial year starting July.
Last week, the prime minister directed the authorities to lease new vessels to expand the PNSC’s fleet with an aim to reduce the $4 billion annual foreign exchange burden on sea-based trade.
Pakistan looks to bolster its maritime trade capacity and reduce reliance on foreign shipping lines, which officials say significantly contributes to the country’s widening trade deficit and puts pressure on foreign exchange reserves.
Source: Arab News
Hellenic Shipping News
port-and-ship
01 July 20253 min readPakistan Eyes $700 Million In Freight Earnings By Expanding Shipping Fleet — Maritime Ministry
Hellenic Shipping News
01 July 2025
port-and-ship
U.K Seizes 2.4 Tonnes Of Cocaine Worth $132 Million From A Ship Arriving From PanamaThe U.K.’s border authorities have confiscated cocaine worth $132 million from a ship that came from Panama.
The haul of 2.4 tonnes of the drug seized at the London Gateway Port close to the capital was one of the biggest of its kind, said Border Force Maritime director Charlie Eastaugh.
The drug was found under the containers on the ship and is said to be the 6th largest cocaine seizure.
Specialist officers had found the shipment earlier this month after they carried out an intelligence-led operation and moved 37 containers to get at the stash.
The U.K is one of the largest European markets for cocaine, per the National Crime Agency. The U.K Government says that the cocaine linked deaths in Wales and England increased by 31% between 2022 and 2023.
The United Nations Office on Drugs and Crime’s (UNODC) annual World Drug Report stated that cocaine was the world’s fastest-growing illegal drug market.
The production of the drug in Colombia has soared as the demand for it has increased rapidly in Europe and South America.
The number of cocaine users in the world has kept increasing, reaching 25 million people in 2023, up from 17 million a decade ago.
Minister for Migration and Citizenship Seema Malhotra said that drug gangs try to import illegal substances into the U.K and cause death, misery and addiction to the youth.
References: Al Jazeera, World Cargo News
Disclaimer : The information contained in this website is for general information purposes only. While we endeavour to keep the information up to date and correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, or related graphics contained on the website for any purpose. Any reliance you place on such information is therefore strictly at your own risk.
In no event will we be liable for any loss or damage including without limitation, indirect or consequential loss or damage, or any loss or damage whatsoever arising from loss of data or profits arising out of, or in connection with, the use of this website.
Disclaimer : The information contained in this website is for general information purposes only. While we endeavour to keep the information up to date and correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, or related graphics contained on the website for any purpose. Any reliance you place on such information is therefore strictly at your own risk.
Do you have info to share with us ? Suggest a correction
Marine Insight
port-and-ship
01 July 20253 min readU.K Seizes 2.4 Tonnes Of Cocaine Worth $132 Million From A Ship Arriving From Panama
Marine Insight
01 July 2025
port-and-ship