The government, through its Special Investment Facilitation Council (SIFC), has taken a significant step in revitalizing the domestic shipbuilding industry. A project to build a containership as a feeder ship for the national shipping corporation is now back on track. This would be a major milestone, as it would be the first large commercial vessel constructed in Pakistan in four decades.

"Government's Initiative Unlocks Pakistan's Maritime Potential"

Government's Initiative and SIFC's Role

The SIFC, launched in 2023 with the aim of attracting and facilitating foreign investment, has been actively working on this project. After four months of dedicated efforts, it was able to revive the plan to build a 1,100 TEU feeder ship for the Pakistan National Shipping Company. This shows the government's commitment to boosting the country's economic self-reliance in maritime trade.The SIFC's proactive engagement and consensus-building among stakeholders have been crucial in moving the project forward. It has reopened a historic chapter of commercial shipbuilding and is set to have a significant impact on Pakistan's blue economy.

The Significance of the Project

This project holds great importance for the Pakistan National Shipping Company. By acquiring this vessel at a significantly lower cost than international market prices ($24.75 million), the company can expand its share in the national feeder container business. It reduces the reliance on foreign shipping companies and strengthens Pakistan's maritime industry.Currently, the company operates a fleet of a dozen ships, mostly tankers and bulkers, with a total of just over 930,000 dwt. With the addition of this new feeder ship, PNSC aims to play a more significant role in the container trade and enhance its international competitiveness.

The Karachi Shipyard's Capabilities

The Karachi Shipyard & Engineering Works is the only shipbuilder in Pakistan. It is well-equipped to build ships up to 26,000 dwt, including various types such as bulkers, tankers, tugs, dredgers, ferries, and fishing vessels. This makes it an ideal partner for the government's shipbuilding initiative.Most of the yard's work has been focused on government contracts for frigates, corvettes, fleet tankers, and logistics ships for the Navy. However, this project marks a new era for the yard and showcases its ability to handle commercial shipbuilding projects as well.

Timing and Deployment

Although no details were announced on the exact timing of the project, it is set to be deployed in a feeder service. This will help in improving the efficiency of the container trade and reducing the dependence on foreign shipping companies.The Pakistan National Shipping Corporation is looking to expand its role in the container trade, and this new feeder ship will play a crucial role in achieving that goal.In conclusion, the government's initiative through the SIFC and the Karachi Shipyard's capabilities have set the stage for a significant revival of Pakistan's domestic shipbuilding industry. This project has the potential to transform the country's maritime sector and contribute to its economic growth.