Some Pakistani shipping groups, operating abroad, have evinced interest in getting more vessels registered under Pakistan flag. In June this year, a Canadian-built container vessel 'Mega-I' in private sector was registered after a gap of nine years.
The vessel, owned by Mega & Forbes Group of Companies, a private firm in Pakistan, purchased the vessel from Ceyline Shipping (Pvt) Limited.
Sources told Business Recorder on Tuesday that the group has intimated the Director General (Ports & Shipping), Captain Anwar Shah, in a written communication on August 23, that after the successful operation of Mega-I under Pak flag, the company has finalised the sale deed of another container vessel under the group. The newly bought vessel Mega-II will be plying between Port Qasim and Indian ports.
Sources said that the government's amended merchant marine policy, announced in June this year, was gaining momentum and attracted ships owning in private sector, which is in the process to registering vessels under Pak flag.
Now, with the induction of second container vessel, the company would be able to offer better service for Pakistani traders.
The group is in the process of acquiring two more vessels, to be named as Mega-III and Mega-IV, sources said. It is a well-known fact that 100 percent containerised cargo is lifted by foreign flag vessels. Efforts are being made to induce more owners to register vessels under Pak flag and one Pakistani company is contemplating to acquire a liquefied petroleum gas (LPG) carrier.
The biggest impediment in inducing private sector is Pakistan-India Shipping Protocol, as registering vessels under Pakistan flag no ship owner would like to bar itself from Indian import and export trade volume of 500 million tonnes from 12 major ports of East and West coasts of India.
After several detailed discussions with Indian delegation, the Ministry of Ports and Shipping had finalised the technical details, and got approved by the federal cabinet. However, the ministry is still awaiting approval of Indian government which will be largely beneficial to ship owning under Pak flag and improvement of trade and commerce with India opening new avenue of business for Pak ports.