PICT
The Company's Second Act in Pakistan, Away From the Berths

PICT: The Company Outlived the Concession

It’s easy to read PICT’s 2023 concession handover to KGTL as the end of the company’s story, the berths changed hands, so surely the company wound down. That’s not what happened. Pakistan International Container Terminal Limited remains a listed entity on the Pakistan Stock Exchange, and in 2026 it went through a significant corporate event of its own, entirely separate from anything to do with East Wharf: Sea Link Group, together with its affiliate Euroasia Terminal, acquired a controlling stake in the company, initially around 79.71% purchased directly from the previous majority shareholder ICTSI, and rising to a reported 80.52% following a public tender offer for additional shares, with the transaction completing in July 2026. That’s a change of ownership at the corporate level, of a company that no longer runs a terminal, not a reversal or renegotiation of the 2023 concession transition already covered on the main PICT page. The berths are still KGTL’s; nothing about that changed.

What makes this genuinely relevant to anyone still encountering the “PICT” name is what the company did next. Following the ownership change, PICT disclosed to the Pakistan Stock Exchange that it was entering the logistics services business, specifically container transportation from terminals, cargo handling, and last-mile delivery. That’s a coherent pivot for a company that spent two decades running container terminal operations and presumably retained relevant industry relationships and operational know-how, even without a berth concession to run it on. PICT itself has stated the new business’s financial contribution is expected to be limited in its early phase, which reads as a reasonable, unhyped characterisation of a company building a new revenue line rather than claiming a dramatic turnaround.

PICT: Two Separate Stories That Are Easy to Conflate

For a shipper, the useful discipline here is keeping two entirely separate PICT stories straight, because conflating them produces wrong conclusions either direction. Story one: the East Wharf berths, numbers 6 through 9, where PICT’s 21-year concession ended in June 2023 and KGTL took over five days later. That story is fully covered on the main PICT page and hasn’t changed, if your cargo lands on those berths, it’s a KGTL shipment in every operational sense, regardless of anything discussed here. Story two: the PICT corporate entity, which kept existing after losing that concession, sold majority control to new owners in 2026, and has now started offering logistics services under its own name. If you encounter “PICT” in a context that isn’t about terminal discharge, a transportation quote, a cargo-handling proposal, a stock market mention, it’s very possibly this second story, not a confusing echo of the first.

Practically, this means the date and context of a PICT reference matter more than the name alone. Older shipping documentation from before mid-2023 correctly describes PICT as the terminal operator at those berths, exactly as the main PICT page explains. A newer reference to PICT offering transportation, handling or delivery services describes the post-2026 logistics business instead, an entirely different kind of engagement. If you’re ever unsure which PICT you’re looking at, checking the date and the specific service being described resolves it faster than trying to reconcile the two into one continuous narrative. Maalbardaar’s own clearance and forwarding relationship at the physical East Wharf berths continues to run through KGTL as the current operator, unaffected by anything happening at the PICT corporate level; we don’t currently have a service relationship with PICT’s new logistics business to describe, and this page exists purely to keep the corporate history accurate for anyone still searching for the name.