Karachi: The Pakistan National Shipping Corporation (PNSC) has announced that three of its subsidiaries are to spend $150m on the purchase of two Aframax oil tankers and a Panamax bulk carrier, local newspaper Daily Times reported. Although parent company PNSC is state owned, Karachi Shipping, Quetta Shipping and Lahore Shipping will buy the vessels with a loan from Netherlands-based bank ABN AMRO, that has not been guaranteed by the government. The new Aframax tankers will be the first vessels on the Pakistan fleet to comply with new IMO regulations requiring all tankers to have double hulls. [30/01/07]
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