Karachi: Pakistan National Shipping Corporation (PNSC) has announced the sale of its 20-year-old Aframax Crude Oil Tanker, M.T. Lahore, which has reached the end of its operational life as per Internal Ports Regulations. The sale was executed by M/s. Lahore Shipping Private Limited, a wholly owned subsidiary of PNSC, resulting in a positive gain.

In a continuation of its previous announcement dated February 26, 2025, PNSC made this disclosure in accordance with Section 96 of the Securities Act, 2015, and Clause 5.6.1 (a) of the Pakistan Stock Exchange (PSX) Regulations. According to information available from the Pakistan Stock Exchange (PSX), the disposal of the vessel marks a strategic move by the Corporation to streamline its operations and maintain efficiency in its fleet management.

The sale of the M.T. Lahore, an Aframax Crude Oil Tanker, signifies the Corporation's adherence to regulatory compliance and operational viability. The tanker had been a part of the Corporation's assets for two decades, during which it contributed to the Corporation's shipping and logistics capabilities. As the vessel reached the end of its operational life, the Corporation capitalized on the opportunity to derive a financial benefit from its sale.

Pakistan National Shipping Corporation's decision aligns with its broader strategy to optimize its asset portfolio and enhance shareholder value. The transaction underlines the Corporation's commitment to maintaining a modern and effective fleet to support its shipping services.

The designated market category for this transaction falls under the shipping and logistics sector, highlighting the significance of strategic asset management for maritime companies.