Pakistan National Shipping Corporation (PNSC) is running against time in terms of inducting new oil tankers in its ageing shipping fleet, as International Maritime Organisation (IMO) has declared that no single-hull oil tanker would be allowed to float in the sea from 2011 onwards. According to knowledgeable sources, Pakistan has three oil tankers, of which only one had a twin-hull.
They said that the recently acquired 2005-built M/T Quetta (double-hull) would be the only oil tanker in the country's shipping fleet, which would be allowed to voyage in the open sea after December 31, 2011, a deadline set by IMO. According to sources M/T Swat and M/T Jauhar were the two single-hull vessels, which would be rendered un-seaworthy after the IMO deadline.
PNSC has sold its fourth oil tanker, M/T Lalazar, just last month in Bangladesh along with three general cargo ships, M/V Hyderabad, M/V Sibbi and M/V Malakand, which were scrapped in Gadani, Balochistan. The sources viewed that the Corporation would have no choice but to scrap the two single-hull oil tankers in compliance with the post-2011 IMO regime.
Reportedly, the PNSC management is fully seized of the situation and has planned acquisition of 10-year old double-hull oil tankers along with at least seven other ships, including a bulk-carrier and six general cargo vessels, a mixed bag of new and second-hand ships.
The sources opined that the bureaucracy and political leadership in Islamabad should realise the urgency of the situation and swiftly heed to future needs of the national shipping fleet by modernising its fleet, thus rendering it more competitive and profitable.