By an OGJ correspondent
KARACHI, Oct. 25 -- Pakistan National Shipping Corp. (PNSC) has signed a 10-year contract of affreightment with Pakistan's three oil refineries—Pak-Arab Refinery Co. Ltd. (Parco), National Refinery Ltd. (NRL), and Pakistan Refinery Ltd. (PRL)—for the transportation of crude oil from three different international ports.
Under the contract's terms, PNSC would purchase two oil tankers within 90 days to transport the oil. Currently PNSC charters vessels to transport the oil.
The agreement ensures PNSC a total shipment of 7.35 million tonnes/year of crude oil; of that amount, PNSC would ship 4.1 million tonnes/year for NRL, 2.75 million tonnes/year for Parco, and 0.5 million tonnes/year for PRL.