Urgent.News

What's breaking now, across thousands of outlets.

Business

Direct shipping link with Europe restored

ISLAMABAD: Direct shipping connectivity between Karachi and major European ports has been restored, providing relief to exporters facing longer transit times and increased freight costs due to disruptions on international shipping routes, Federal Maritime Affairs Minister Muhammad Junaid Anwar Chaudhry announced on Thursday. In a statement, the minister noted that the Mediterranean Shipping…

Direct shipping link with Europe restored

Karachi's direct shipping link with Europe has been reestablished, offering a lifeline to exporters grappling with longer transit times and higher freight expenses due to disruptions on global shipping routes, according to Federal Maritime Affairs Minister Muhammad Junaid Anwar Chaudhry. Chaudhry disclosed that the Mediterranean Shipping Company (MSC) had resumed its premium IPAK service, in response to exporters' demand for a dedicated and direct service to Europe.

The restored service will see MSC making weekly arrivals at Karachi Gateway Terminal International (KGTI), connecting the port city to major European ports such as Felixstowe, Rotterdam, Hamburg, Bremerhaven, Antwerp, Le Havre, and London Gateway through Colombo.

Chaudhry emphasized that the restoration of a dedicated Europe service marks a significant step for Pakistan's export-driven industries, particularly the textile sector, which had been dealing with increased transit times and logistics costs due to disruptions in international shipping routes. The minister cited his discussions with textile exporters, who had voiced their concerns over the adverse effects of longer vessel journeys, resulting in heightened transportation costs and delivery delays, negatively impacting the competitiveness of Pakistani exporters.

While the minister acknowledged the restoration of the service as a positive development, he cautioned that it should not be viewed as a solution to the broader issues affecting international shipping routes. He highlighted that disruptions to established shipping routes continue to have implications for global trade, and Pakistan remains committed to collaborating with the shipping industry and exporters to tackle connectivity and logistics challenges, and to enhance Pakistan's standing in international trade.

Written by urgent.news from Dawn's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.

Also reported by 1 other outlet

Read the original at dawn.com →

More in Business

Karachi IT Park hits snags again

ISLAMABAD: The Karachi IT Park project has faced another delay after two rounds of tendering failed to attract any bids, prompting the Ministry of Information Technology and Telecommunications to…

Tax-free livestock import scheme launched

ISLAMABAD: The Federal Board of Revenue (FBR) has issued new rules allowing duty- and tax-free imports of live cattle, sheep, and goats for fattening and subsequent export, either as live animals or…

More from Friday 9 October →