Author Topic: PNSC -- Pakistan National Shipping Corporation  (Read 169220 times)

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Offline optimistic

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Re: PNSC -- Pakistan National Shipping Corporation
« Reply #779 on: September 13, 2018, 07:42:06 PM »
Upper lock after long time

94/95 ki initial ride khappay IA :fingerscrossed1:

Salammembers any current view ???
boss,
BV k hisaab saay looks cheap,
govt ki initial chaaaaaaal dhaiktaay huwaay tu buy lagta haay but buy only for investment
pl  , inspite of todays more mandee expected due to strong possibility of further devauation :rtfm:
agar piaa 20 hoo ga tu pnsc b 200 hoo sakta haay :skeptic:

Book value Rs. 230, PNSC is in good profits since year 2002, cash and cash equivalents Rs. 6.7 billions per share Rs. 50 only cash, AA rating, further lot of growth potential, last year they had EPS 18, strong balance sheet backed by GOP. Baltic Dry Index also up since last year. I guess good stock to hold long.

PIAA ka Rs. 20 hona peta nae lakin PNSC last year 200+ tha.
TOP Scripts as below: Updated (28th Nov, 2016)
1. Wyeth, 2. SHJS, 3. FFLNV, 4. TGL, 5. BERG, 6. APL, 7. PKGS, 8. EPQL, 9. ISL, 10. FFBL. 11. TRIPF. 12 ASL

I am not perfect. Please do your own research my comments / or views may not prove accurate, nor i advise anyone to act upon on my recommendations, nor i accept any responsibility on me. Your money, your gain / or loss, before investing into any script better you gain sufficient knowledge of business and calculate risk accordingly as per your risk appetite.

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Re: PNSC -- Pakistan National Shipping Corporation
« Reply #779 on: September 13, 2018, 07:42:06 PM »

Online rashid.Maria

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Re: PNSC -- Pakistan National Shipping Corporation
« Reply #780 on: September 14, 2018, 01:22:39 PM »
Upper lock after long time

94/95 ki initial ride khappay IA :fingerscrossed1:

Salammembers any current view ???
boss,
BV k hisaab saay looks cheap,
govt ki initial chaaaaaaal dhaiktaay huwaay tu buy lagta haay but buy only for investment
pl  , inspite of todays more mandee expected due to strong possibility of further devauation :rtfm:
agar piaa 20 hoo ga tu pnsc b 200 hoo sakta haay :skeptic:

Book value Rs. 230, PNSC is in good profits since year 2002, cash and cash equivalents Rs. 6.7 billions per share Rs. 50 only cash, AA rating, further lot of growth potential, last year they had EPS 18, strong balance sheet backed by GOP. Baltic Dry Index also up since last year. I guess good stock to hold long.

PIAA ka Rs. 20 hona peta nae lakin PNSC last year 200+ tha.



Aj Cap hota hai ya nahi let's see

Offline optimistic

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Re: PNSC -- Pakistan National Shipping Corporation
« Reply #781 on: September 14, 2018, 02:16:41 PM »
Upper lock after long time

94/95 ki initial ride khappay IA :fingerscrossed1:

Salammembers any current view ???
boss,
BV k hisaab saay looks cheap,
govt ki initial chaaaaaaal dhaiktaay huwaay tu buy lagta haay but buy only for investment
pl  , inspite of todays more mandee expected due to strong possibility of further devauation :rtfm:
agar piaa 20 hoo ga tu pnsc b 200 hoo sakta haay :skeptic:

Book value Rs. 230, PNSC is in good profits since year 2002, cash and cash equivalents Rs. 6.7 billions per share Rs. 50 only cash, AA rating, further lot of growth potential, last year they had EPS 18, strong balance sheet backed by GOP. Baltic Dry Index also up since last year. I guess good stock to hold long.

PIAA ka Rs. 20 hona peta nae lakin PNSC last year 200+ tha.



Aj Cap hota hai ya nahi let's see

Quality item ha for long term investors only.
TOP Scripts as below: Updated (28th Nov, 2016)
1. Wyeth, 2. SHJS, 3. FFLNV, 4. TGL, 5. BERG, 6. APL, 7. PKGS, 8. EPQL, 9. ISL, 10. FFBL. 11. TRIPF. 12 ASL

I am not perfect. Please do your own research my comments / or views may not prove accurate, nor i advise anyone to act upon on my recommendations, nor i accept any responsibility on me. Your money, your gain / or loss, before investing into any script better you gain sufficient knowledge of business and calculate risk accordingly as per your risk appetite.

Offline optimistic

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Re: PNSC -- Pakistan National Shipping Corporation
« Reply #782 on: September 14, 2018, 09:45:56 PM »
https://www.hellenicshippingnews.com/pakistan-mulls-privatizing-2-5bn-freight-industry/

Govt wants to increase local Pakistani companies share in sea cargo, currently PNSC handles 15% of total import and export through sea, Gawader will be next big upside trigger for marine industry.
TOP Scripts as below: Updated (28th Nov, 2016)
1. Wyeth, 2. SHJS, 3. FFLNV, 4. TGL, 5. BERG, 6. APL, 7. PKGS, 8. EPQL, 9. ISL, 10. FFBL. 11. TRIPF. 12 ASL

I am not perfect. Please do your own research my comments / or views may not prove accurate, nor i advise anyone to act upon on my recommendations, nor i accept any responsibility on me. Your money, your gain / or loss, before investing into any script better you gain sufficient knowledge of business and calculate risk accordingly as per your risk appetite.

Offline Valueestimator

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Re: PNSC -- Pakistan National Shipping Corporation
« Reply #783 on: September 14, 2018, 10:35:25 PM »
https://www.hellenicshippingnews.com/pakistan-mulls-privatizing-2-5bn-freight-industry/

Govt wants to increase local Pakistani companies share in sea cargo, currently PNSC handles 15% of total import and export through sea, Gawader will be next big upside trigger for marine industry.

Thanks
Top Picks: BTL, FASM, KHTC, AGIC, NPL, AKBL, BOP,ATRL

Offline Muhammad Hamza Rizwan

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Re: PNSC -- Pakistan National Shipping Corporation
« Reply #784 on: September 16, 2018, 03:22:56 PM »
Upper lock after long time

94/95 ki initial ride khappay IA :fingerscrossed1:

Salammembers any current view ???
boss,
BV k hisaab saay looks cheap,
govt ki initial chaaaaaaal dhaiktaay huwaay tu buy lagta haay but buy only for investment
pl  , inspite of todays more mandee expected due to strong possibility of further devauation :rtfm:
agar piaa 20 hoo ga tu pnsc b 200 hoo sakta haay :skeptic:

Book value Rs. 230, PNSC is in good profits since year 2002, cash and cash equivalents Rs. 6.7 billions per share Rs. 50 only cash, AA rating, further lot of growth potential, last year they had EPS 18, strong balance sheet backed by GOP. Baltic Dry Index also up since last year. I guess good stock to hold long.

PIAA ka Rs. 20 hona peta nae lakin PNSC last year 200+ tha.
Despit having PKR 6 bullion cash reserves, why they didn't announce yealrly dividend more than PKR 2 per share in last years? Very low dividend yeild as compared to share price and its earning.

Offline optimistic

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Re: PNSC -- Pakistan National Shipping Corporation
« Reply #785 on: September 16, 2018, 11:08:27 PM »
Upper lock after long time

94/95 ki initial ride khappay IA :fingerscrossed1:

Salammembers any current view ???
boss,
BV k hisaab saay looks cheap,
govt ki initial chaaaaaaal dhaiktaay huwaay tu buy lagta haay but buy only for investment
pl  , inspite of todays more mandee expected due to strong possibility of further devauation :rtfm:
agar piaa 20 hoo ga tu pnsc b 200 hoo sakta haay :skeptic:

Book value Rs. 230, PNSC is in good profits since year 2002, cash and cash equivalents Rs. 6.7 billions per share Rs. 50 only cash, AA rating, further lot of growth potential, last year they had EPS 18, strong balance sheet backed by GOP. Baltic Dry Index also up since last year. I guess good stock to hold long.

PIAA ka Rs. 20 hona peta nae lakin PNSC last year 200+ tha.
Despit having PKR 6 bullion cash reserves, why they didn't announce yealrly dividend more than PKR 2 per share in last years? Very low dividend yeild as compared to share price and its earning.

They have planned for fleet expansion adding 2 oil tankers and 1 aframx, further oil storages and marine workshop at Gawadar, through retained earning they are in solid balance sheet position and book value is Rs. 230 otherwise below Rs. 50 hote agr payout PICT ke thern hota.
TOP Scripts as below: Updated (28th Nov, 2016)
1. Wyeth, 2. SHJS, 3. FFLNV, 4. TGL, 5. BERG, 6. APL, 7. PKGS, 8. EPQL, 9. ISL, 10. FFBL. 11. TRIPF. 12 ASL

I am not perfect. Please do your own research my comments / or views may not prove accurate, nor i advise anyone to act upon on my recommendations, nor i accept any responsibility on me. Your money, your gain / or loss, before investing into any script better you gain sufficient knowledge of business and calculate risk accordingly as per your risk appetite.

Offline Valueestimator

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Re: PNSC -- Pakistan National Shipping Corporation
« Reply #786 on: September 16, 2018, 11:12:55 PM »
Upper lock after long time

94/95 ki initial ride khappay IA :fingerscrossed1:

Salammembers any current view ???
boss,
BV k hisaab saay looks cheap,
govt ki initial chaaaaaaal dhaiktaay huwaay tu buy lagta haay but buy only for investment
pl  , inspite of todays more mandee expected due to strong possibility of further devauation :rtfm:
agar piaa 20 hoo ga tu pnsc b 200 hoo sakta haay :skeptic:

Book value Rs. 230, PNSC is in good profits since year 2002, cash and cash equivalents Rs. 6.7 billions per share Rs. 50 only cash, AA rating, further lot of growth potential, last year they had EPS 18, strong balance sheet backed by GOP. Baltic Dry Index also up since last year. I guess good stock to hold long.

PIAA ka Rs. 20 hona peta nae lakin PNSC last year 200+ tha.
Despit having PKR 6 bullion cash reserves, why they didn't announce yealrly dividend more than PKR 2 per share in last years? Very low dividend yeild as compared to share price and its earning.

They have planned for fleet expansion adding 2 oil tankers and 1 aframx, further oil storages and marine workshop at Gawadar, through retained earning they are in solid balance sheet position and book value is Rs. 230 otherwise below Rs. 50 hote agr payout PICT ke thern hota.

The issue is low ROE ON BOOK VALUE.
Top Picks: BTL, FASM, KHTC, AGIC, NPL, AKBL, BOP,ATRL

Offline optimistic

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Re: PNSC -- Pakistan National Shipping Corporation
« Reply #787 on: September 17, 2018, 12:08:40 AM »
Upper lock after long time

94/95 ki initial ride khappay IA :fingerscrossed1:

Salammembers any current view ???
boss,
BV k hisaab saay looks cheap,
govt ki initial chaaaaaaal dhaiktaay huwaay tu buy lagta haay but buy only for investment
pl  , inspite of todays more mandee expected due to strong possibility of further devauation :rtfm:
agar piaa 20 hoo ga tu pnsc b 200 hoo sakta haay :skeptic:

Book value Rs. 230, PNSC is in good profits since year 2002, cash and cash equivalents Rs. 6.7 billions per share Rs. 50 only cash, AA rating, further lot of growth potential, last year they had EPS 18, strong balance sheet backed by GOP. Baltic Dry Index also up since last year. I guess good stock to hold long.

PIAA ka Rs. 20 hona peta nae lakin PNSC last year 200+ tha.
Despit having PKR 6 bullion cash reserves, why they didn't announce yealrly dividend more than PKR 2 per share in last years? Very low dividend yeild as compared to share price and its earning.

They have planned for fleet expansion adding 2 oil tankers and 1 aframx, further oil storages and marine workshop at Gawadar, through retained earning they are in solid balance sheet position and book value is Rs. 230 otherwise below Rs. 50 hote agr payout PICT ke thern hota.

The issue is low ROE ON BOOK VALUE.

They need to increase fleet side own and less depends on chartering vessels and there is huge untapped market to capture. Trading below 5x PE multiples v/s regional peers 30x.
TOP Scripts as below: Updated (28th Nov, 2016)
1. Wyeth, 2. SHJS, 3. FFLNV, 4. TGL, 5. BERG, 6. APL, 7. PKGS, 8. EPQL, 9. ISL, 10. FFBL. 11. TRIPF. 12 ASL

I am not perfect. Please do your own research my comments / or views may not prove accurate, nor i advise anyone to act upon on my recommendations, nor i accept any responsibility on me. Your money, your gain / or loss, before investing into any script better you gain sufficient knowledge of business and calculate risk accordingly as per your risk appetite.

Offline optimistic

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Re: PNSC -- Pakistan National Shipping Corporation
« Reply #788 on: September 17, 2018, 01:29:06 AM »
Pakistan is contemplating measures to reduce its dependence on foreign shipping companies for ferrying its import and export goods, billed to the amount of $2.5 billion annually, Aasim A Siddiqui, Chairman of All Pakistan Shipping Association, told Arab News on Sunday.

“Pakistan is currently paying this amount to foreign shipping companies for transportation of around 85 percent of inbound and outbound cargo from the country’s harbors,” Siddiqui, who also provides policy inputs to the country’s Ministry of Maritimes Affairs, said.

Pakistan’s state-owned Pakistan National Shipping Corporation (PNSC) transports around 15 percent of the total cargo handling comprising mainly oil shipments.

PNSC’s current fleet includes four oil tankers and five bulk cargo carriers with the corporation planning to add three modern double hull oil tankers to cater to the demand of Motor Gasoline transportation.

As the Gwadar port project — part of the China Pakistan Economic Corridor (CPEC) – nears completion, Pakistan expects huge shipping activities. CPEC is aimed at building a trade and infrastructure network connecting Asia with Europe and Africa along the ancient Silk Road trade routes.

TOP Scripts as below: Updated (28th Nov, 2016)
1. Wyeth, 2. SHJS, 3. FFLNV, 4. TGL, 5. BERG, 6. APL, 7. PKGS, 8. EPQL, 9. ISL, 10. FFBL. 11. TRIPF. 12 ASL

I am not perfect. Please do your own research my comments / or views may not prove accurate, nor i advise anyone to act upon on my recommendations, nor i accept any responsibility on me. Your money, your gain / or loss, before investing into any script better you gain sufficient knowledge of business and calculate risk accordingly as per your risk appetite.

Offline optimistic

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Re: PNSC -- Pakistan National Shipping Corporation
« Reply #789 on: September 17, 2018, 01:33:11 AM »
https://www.pnsc.com.pk/pnscProcPln1819.pdf

1. Acquisition of two secondhand LR-1

2. Acquisition of one secondhand Aframax Tanker! LR-1 Tanker

3. Oil Storage at Keamari

FY 2018-19 procurement plan.
TOP Scripts as below: Updated (28th Nov, 2016)
1. Wyeth, 2. SHJS, 3. FFLNV, 4. TGL, 5. BERG, 6. APL, 7. PKGS, 8. EPQL, 9. ISL, 10. FFBL. 11. TRIPF. 12 ASL

I am not perfect. Please do your own research my comments / or views may not prove accurate, nor i advise anyone to act upon on my recommendations, nor i accept any responsibility on me. Your money, your gain / or loss, before investing into any script better you gain sufficient knowledge of business and calculate risk accordingly as per your risk appetite.

Offline optimistic

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Re: PNSC -- Pakistan National Shipping Corporation
« Reply #790 on: September 17, 2018, 01:37:22 AM »
downside is limited 60 to 65 and upside is unlimited based on book value Rs. 230. and previous year high of Rs. 213. laoo maal pnsc..  :dance
TOP Scripts as below: Updated (28th Nov, 2016)
1. Wyeth, 2. SHJS, 3. FFLNV, 4. TGL, 5. BERG, 6. APL, 7. PKGS, 8. EPQL, 9. ISL, 10. FFBL. 11. TRIPF. 12 ASL

I am not perfect. Please do your own research my comments / or views may not prove accurate, nor i advise anyone to act upon on my recommendations, nor i accept any responsibility on me. Your money, your gain / or loss, before investing into any script better you gain sufficient knowledge of business and calculate risk accordingly as per your risk appetite.

Offline Aahaf

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Re: PNSC -- Pakistan National Shipping Corporation
« Reply #791 on: September 17, 2018, 01:46:29 AM »
downside is limited 60 to 65 and upside is unlimited based on book value Rs. 230. and previous year high of Rs. 213. laoo maal pnsc..  :dance
i think it's bottomed at around 66 67 and not break 65 isn't it opti bro if that's the case than good buy at these rates wat u think

Offline optimistic

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Re: PNSC -- Pakistan National Shipping Corporation
« Reply #792 on: September 17, 2018, 01:50:49 AM »
downside is limited 60 to 65 and upside is unlimited based on book value Rs. 230. and previous year high of Rs. 213. laoo maal pnsc..  :dance
i think it's bottomed at around 66 67 and not break 65 isn't it opti bro if that's the case than good buy at these rates wat u think

3 years low is 63, and 5 years low is 57, and 1 year high is 213.  :laugh:

available at huge discount to its book value just 30% of its book value Rs. 230.


its buy at present rates, annual is due this month and last 4th Qtr EPS historically always very high as compared to first 3 Qtrs EPS.
TOP Scripts as below: Updated (28th Nov, 2016)
1. Wyeth, 2. SHJS, 3. FFLNV, 4. TGL, 5. BERG, 6. APL, 7. PKGS, 8. EPQL, 9. ISL, 10. FFBL. 11. TRIPF. 12 ASL

I am not perfect. Please do your own research my comments / or views may not prove accurate, nor i advise anyone to act upon on my recommendations, nor i accept any responsibility on me. Your money, your gain / or loss, before investing into any script better you gain sufficient knowledge of business and calculate risk accordingly as per your risk appetite.

Offline optimistic

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Re: PNSC -- Pakistan National Shipping Corporation
« Reply #793 on: September 18, 2018, 01:50:55 AM »
Pakistan eyes to localize freight industry
 
 
 ALI AHMED  SEP 3RD, 2018  0


In line of austerity measures proposed by the newly elected government of Pakistan Tehrik-e-Insaf (PTI), Pakistan eyes to drop its reliance on foreign shipping companies, costing billions of dollars t the exchequer.

“Pakistan is currently paying this amount to foreign shipping companies for transportation of around 85 percent of inbound and outbound cargo from the country’s harbors,” said Aasim A Siddiqui, Chairman of All Pakistan Shipping Association (APSA), quoted Arab News.

Pakistan pays about $2.5 billion to shipping companies for transporting its imports and exports, informed the report.

The APSA chief informed that the government is considering different approaches to reduce the freight bill i.e. allowing private sectors to charter vessels with local crew. “At present, the foreign vessels are chartered with foreign crew and they are paid in dollars which adds additional pressure on the already depleting foreign exchange reserves,” Siddiqui said.

Prime Minister Imran Khan on Sunday said his government was determined to change governance in the country while focusing on austerity, anti-corruption & meritocracy. On his twitter account, the prime minister said that priority must be given to achieving our 100-day programme.
TOP Scripts as below: Updated (28th Nov, 2016)
1. Wyeth, 2. SHJS, 3. FFLNV, 4. TGL, 5. BERG, 6. APL, 7. PKGS, 8. EPQL, 9. ISL, 10. FFBL. 11. TRIPF. 12 ASL

I am not perfect. Please do your own research my comments / or views may not prove accurate, nor i advise anyone to act upon on my recommendations, nor i accept any responsibility on me. Your money, your gain / or loss, before investing into any script better you gain sufficient knowledge of business and calculate risk accordingly as per your risk appetite.

Offline optimistic

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Re: PNSC -- Pakistan National Shipping Corporation
« Reply #794 on: September 18, 2018, 02:56:26 AM »
Corporation has world’s youngest fleet of quality vessels
India, Sri Lanka, Bangladesh and multinational companies charter its vessels
Despite ECC decision, public sector organizations reluctant to utilize PNSC services
Pakistan can save huge cost being paid to foreign flag-ships
Interview with Brig. (Retd) Rashid Siddiqui – Executive Director PNSC (Administration) and former chairman PNSC

 

Profile
Brig. (Retd) Rashid Siddiqui is the Executive Director (Administration), Pakistan National Shipping Corporation, and the former chairman of the same corporation.

He is a recipient of Sitara-e-Imtiaz (Military), SI (M).

Brig. (Retd) Rashid Siddiqui SI (M) joined Pakistan National Shipping Corporation in 2002 as Executive Director (Administration). During this period he provided and developed policy guideline on HR, Security, Administration, Real Estate, Protocol and Crises Management.

He also participated in purchase and sale of vessels and Fleet Development. As Chairman Provident Fund, he is responsible for its accounting investment and Asset Management.

He was appointed Chairman/CEO and Chairman Board of Directors of Pakistan National Shipping Corporation in November 2009 till March 21, 2011. During this period, he developed five-year fleet development plan which included replacement of vessels in Phase-I and expansion of Fleet in Phase-II. During this period he arranged loan without GOP guarantee and added six modern vessels to the fleet.

He joined Pakistan Army in September 1971 and remained so till 2002. He is a graduate of Command and Staff College and National Defense College. During his Army career he has been Member Faculty National Defense College, Islamabad (Most prestigious Institution of Pakistan).

A citadel of training senior officers of Armed forces and Civil Services of Grade-20 and above of Pakistan and friendly countries. As Director Military Intelligence he was responsible to collect, collate and interpret information, preparing reports and intelligence summaries for the Army Chief. As Brigade Commander he was responsible for planning and issuing operational training and administration policies for 5000/6000 officers and men.

He has attended seminars and symposiums both at national and international level on Security, Human Resource Development, Analysis of Financial Statement, Poverty Alleviation Challenges, Asia Pacific security in China.

 

 

PNSC is a national institution comprised of a fleet of 9 vessels including five bulk cargo carriers and four oil tankers. In fact PNSC’s fleet of vessels is one of the youngest fleet in the maritime business, which was replaced in 2010 when I was the Chairman of PNSC.

PNSC has gradually replaced all the aged vessels of 25-26 years with younger vessels of 6-7 years of age with a view to enhance efficiency of the fleet.

Although having the youngest and efficient vessels in its fleet PNSC, which is offering quality services, is attractive for international companies chartering its vessels and countries like Sri Lanka, Bangladesh and India are using it for transportation of oil, it is unfortunate the public sector organizations are reluctant to utilize PNSC services for their import of cargos may be because of doubly audited financial system, which discourages any false play in finance.

Brig. (Retd) Rashid Siddiqui while giving an overview of PNSC in an interview said that PNSC has become one of the youngest fleets in the world with an average age of 10 years of each vessel.

For improving quality of the ships we decided to go for Japanese built ships of fewer than seven years of age, the reason for buying Japanese ships was the quality of ships, which was the best in the world and another reason was to standardize the fleet in terms of spares and inventory.

Had we acquired 9 ships of different made and countries we would have to maintain an inventory of different spares parts, which naturally cost us too much.

The new ships were efficient which saved us from maintenance expenditures; they are fuel efficient and also helped increasing number of voyages. These new ships also resulted in increased acceptability at every port due to easy deployment so it helped to enhance range of operation for PNSC.

PAGE: Would you like to share the role of PNSC in transporting oil for the refineries and other oil business in Pakistan.

Rashid Siddiqui: Earlier we were carrying oil for refineries for PARCO, PRL & NRL. PARCO is an Abu Dhabi based company and the Government of Pakistan has a share in this company while PRL and NRL both are our clients and we had a fresh five-year contract with both of the refineries.

We also tried to tap the oil transportation business of Pakistan State Oil (PSO) which was using foreign flag ships, which means outflow of hard earned foreign exchange while working with PNSC the foreign exchange, we tried to convince PSO to use national carriers for transportation of oil but they were already in contract with other suppliers.

However we did not give up the idea and have a deal with their suppliers including Bakray and Kuwait for one year then again we approached PSO with the solid reasons that we are now working for their suppliers and it would be in the national interest to utilize national carriers to save the foreign exchange

They were reluctant to make changes in the existing arrangement, then we floated the idea that we at PNSC may buy a ship as a joint venture, which can be used for shipments of crude as well as white oil for them this idea was clicked and after signing MoU agreement we started working jointly for the last four years, which helped the government saving a lot of foreign exchange.

Actually the maritime business passing through a slowdown all over the world and one ship, which used to earn $25000 in 2008 has come down to $5000-6000 while price of the ships has also come down due to global slowdown in the shipping industry.

However, some quarters were not happy with this arrangement and even they went to court by raising lame excuses that proper tender was not floated etc.

However the High court and even the Supreme Court issued a stay order in our favor and we are doing business for PSO under that stay order.

Some quarters opposing utility of the national carriers despite the fact that this arrangement was approved by the ECC. It is practiced all over the world that the government protects their national flag carriers, even US provides protection to their national flag carriers.

As a result of opposition put up by some quarters on the pretext of quality of the oil, PSO has withdrawn white oil and high sulfur oil transportation from the contract.

Although we tried to convince them that we are neither producer nor supplier we are offering transportation services, which has nothing to do with quality of the oil yet they have their own reasons and interest and now the business with PSO has come down to merely 25 percent with PNSC, which has direct impact on our foreign exchange reserves.

It may be interested to note that PSO had a profit of $22 million while working with PNSC.


 
 

PAGE: In the backdrop of the story you have narrated can we say there is a lack of coordination and cooperation among the public sector organizations?

Rashid Siddiqui: With a pause, to some extent you are right and the lack of coordination exists at least at ministerial level. Now after acquiring new vessels, the PNSC now in a position to cater to all the international requirements, we worked for Sri Lanka, Bangladesh and even India for transportation of oil for them.

Shell also charter our ships while Kuwait Petroleum also used our ships for one year. All these international companies are willing to work with PNSC only because we have the quality ships and meet all international requirements and standards.

PAGE: What is the financial status of PNSC is it in profit or break even or financially deficit-company?

Rashid Siddiqui: It is a matter of interest that since 2000 we are on positive side and in a sound financial health in 2012 after profit was Rs400 million after tax and now in 2015-16 after earnings are ranging Rs1.5-2 billion after tax.

We are now a self-generating entity, we neither taken any subsidy or sovereign guarantee from the government. In fact since 2000 we are self-reliant and self-generating company and not a burden on the government or the national economy. Our turnover is between Rs18 to Rs20 billion. At the moment our earning per share is around 13 percent.

PAGE: What is the share of PNS in cargo business in Pakistan?

Rashid Siddiqui: Although there is a clear directive from ECC that public sector organization should utilize services of PNSC yet the response is not so encouraging, apart from oil transportation in dry cargo we are offering services for Armed Forces, Pakistan Railways and WAPDA also worked with us but with some reservation, Sui Northern is also working with us reluctantly because they had tried to create some problems but the Sindh High Court gave the ruling that both are public sector organizations and they should work for the interest of the country, now we are endeavoring to get the business from Trading Corporation of Pakistan, which imports different commodities worth over $1 billion.

PAGE: Under the CPEC program Pakistan has to import huge machinery and other accessories especially for coal power plants, will PNSC play a role in this huge project for transportation of plants etc?

Rashid Siddiqui: Yes you are right, we have tried to contact the authorities responsible for developing coal power plants, which will generate huge transportation business yet so far they are not responding in a positive way because despite having our representation in their board of directors they are not inviting us in meetings or discussing their future plan for import of machinery for coal power plants.
TOP Scripts as below: Updated (28th Nov, 2016)
1. Wyeth, 2. SHJS, 3. FFLNV, 4. TGL, 5. BERG, 6. APL, 7. PKGS, 8. EPQL, 9. ISL, 10. FFBL. 11. TRIPF. 12 ASL

I am not perfect. Please do your own research my comments / or views may not prove accurate, nor i advise anyone to act upon on my recommendations, nor i accept any responsibility on me. Your money, your gain / or loss, before investing into any script better you gain sufficient knowledge of business and calculate risk accordingly as per your risk appetite.

Offline optimistic

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Re: PNSC -- Pakistan National Shipping Corporation
« Reply #795 on: September 18, 2018, 03:02:17 AM »
Think about what will be revenue and profitability if new  PTI Govt made it compulsory for every public entity to use national carrier PNSC for their import and exports in order to safe foreign exchange.

Its a matter of time once these strategies implement pnsc will capture markat from foreign shipping companies for which Pakistan currently giving $2.5 Billions to foreign shipping companies. State owned shipping company is only PNSC.  :fingerscrossed1:
TOP Scripts as below: Updated (28th Nov, 2016)
1. Wyeth, 2. SHJS, 3. FFLNV, 4. TGL, 5. BERG, 6. APL, 7. PKGS, 8. EPQL, 9. ISL, 10. FFBL. 11. TRIPF. 12 ASL

I am not perfect. Please do your own research my comments / or views may not prove accurate, nor i advise anyone to act upon on my recommendations, nor i accept any responsibility on me. Your money, your gain / or loss, before investing into any script better you gain sufficient knowledge of business and calculate risk accordingly as per your risk appetite.

Offline optimistic

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Re: PNSC -- Pakistan National Shipping Corporation
« Reply #796 on: September 19, 2018, 11:21:45 AM »
BOD meeting on 26th Sept  :fingerscrossed1:
TOP Scripts as below: Updated (28th Nov, 2016)
1. Wyeth, 2. SHJS, 3. FFLNV, 4. TGL, 5. BERG, 6. APL, 7. PKGS, 8. EPQL, 9. ISL, 10. FFBL. 11. TRIPF. 12 ASL

I am not perfect. Please do your own research my comments / or views may not prove accurate, nor i advise anyone to act upon on my recommendations, nor i accept any responsibility on me. Your money, your gain / or loss, before investing into any script better you gain sufficient knowledge of business and calculate risk accordingly as per your risk appetite.

Offline stuka

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Re: PNSC -- Pakistan National Shipping Corporation
« Reply #797 on: September 19, 2018, 11:50:07 AM »
Think about what will be revenue and profitability if new  PTI Govt made it compulsory for every public entity to use national carrier PNSC for their import and exports in order to safe foreign exchange.

Its a matter of time once these strategies implement pnsc will capture markat from foreign shipping companies for which Pakistan currently giving $2.5 Billions to foreign shipping companies. State owned shipping company is only PNSC.  :fingerscrossed1:

after the budget what can you expect from them??

incompetent people
FASM, HUBC, OLPL, UNITY, KHTC, PNSC, NETSOL, TGL

Offline optimistic

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Re: PNSC -- Pakistan National Shipping Corporation
« Reply #798 on: September 19, 2018, 11:56:54 AM »
Think about what will be revenue and profitability if new  PTI Govt made it compulsory for every public entity to use national carrier PNSC for their import and exports in order to safe foreign exchange.

Its a matter of time once these strategies implement pnsc will capture markat from foreign shipping companies for which Pakistan currently giving $2.5 Billions to foreign shipping companies. State owned shipping company is only PNSC.  :fingerscrossed1:

after the budget what can you expect from them??

incompetent people

They have to safe foreign exchange bhai jaan, they will not give more share of $2.5 billions to foreign shipping companies what i want to understand its only 15% of what PNSC handles of total sea trade and we need to pay $2.5 billions to foreign shipping why can't we capture more share from foreign shipping companies.
TOP Scripts as below: Updated (28th Nov, 2016)
1. Wyeth, 2. SHJS, 3. FFLNV, 4. TGL, 5. BERG, 6. APL, 7. PKGS, 8. EPQL, 9. ISL, 10. FFBL. 11. TRIPF. 12 ASL

I am not perfect. Please do your own research my comments / or views may not prove accurate, nor i advise anyone to act upon on my recommendations, nor i accept any responsibility on me. Your money, your gain / or loss, before investing into any script better you gain sufficient knowledge of business and calculate risk accordingly as per your risk appetite.