Islamabad June 10 2021: At present, PNSC fleet comprises of 11 vessels of various types/sizes (05 Bulk carriers,04 Aframax tankers and 02 LR-1 Clean Product tankers) with a total deadweight capacity (cargo carrying capacity) of 831,711 metric tons, the highest ever carrying capacity since inception of PNSC, as per Economic Survey 2020-21.
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Growth rate set at 4.8 percent for Fiscal year 2021-22
This has helped Pakistan National Shipping Corporation (PNSC) PNSC Group to made significant progress in bulk and liquid cargo segments.
Despite the pandemic, the Group has managed to achieve a profit of PKR1,235 million as against PKR1,411 million in the corresponding period last year. The turnover stands at PKR9,633 million compared to PKR9,621 million for the previous year’s corresponding period. Revenue of the tanker segment, including foreign charters, grew by 7.12 percent from PKR6,195 million to PKR6,635 million.
Slot chartering revenue increased by 19.64 percent from PKR704 million to PKR 842 million. The increase in revenues reflects the growth in operational activity of the Group. The net profitability was, however, adversely affected due to decline in AFRA by 26 percent, reduction in gross margins of slot business by 11 percent and adverse movement of USD versus PKR.
PNSC registered exchange losses of PKR87 million in the period under review as against exchange gains of PKR54 million in nine months period ended March 31, 2020.