Pakistani player plans to increase chartering

State-owned Pakistan National Shipping Corp (PNSC) is aiming to long-term charter tankers before rates rise, possibly later this year.

27 March 2015 0:00 GMT Updated 27 March 2015 0:00 GMT

By Pinaki Routray New Delhi

Karachi-based sources say that in the next three months, PNSC is expected to fix up to four tankers, including aframaxes, for up to 18 months to carry crude oil for state-owned domestic oil refiners.

They explain that the refiners are looking to increase stockpiles while crude prices remain lower in moves that could increase demand for shipping in the region.