Maersk to invest in Pakistan’s ports

Maritime Affairs Minister, Qaiser Ahmed Sheikh, told Arab News the Danish shipping firm was interested in investing in a terminal and port together with supporting infrastructure.

“We had very good discussions with them and they had shown eagerness and told us that they will submit proposal in a few days,” said the minister. “They want to take a terminal. There is some area where there is depth in the sea, where big ships can be anchored.”

Maersk has around a fifth of the market share in Pakistan’s containerised import-export activities, according to Pakistan’s information ministry. In January, the Danish shipping firm announced new smart logistics and warehouse facilities in the country, along with the same in China and Norway.

“With a vast network of warehousing and depot facilities across the country, including our flagship logistics hub in Port Qasim, Karachi — a sprawling 27-acre complex encompassing over 650,000 square feet of warehouse space — we ensure unparalleled support to Pakistani exporters and importers,” the shipping company said in a written response to Arab News.

“In total, Maersk now operates over a 1.5 million square feet footprint across seven cities in Pakistan.

“We have limited space available in Karachi Port Trust and many, including foreign, companies are taking interest in it, particularly in the deep-water areas where water depth is high and we have the location.

“The point is that there is a lot of interest in Pakistan’s port right now because they are seeing this as a global hub for transshipment and they will also run the feeder vessels in the Gulf from here.”

Pakistan has already signed an agreement with AD Ports Group which is investing about US$395 million for the development of a container and cargo terminal under a government-to-government agreement between the United Arab Emirates and Pakistan.