Muhammadi Steamship Company Limited was
incorporated on 12 May 1947. It was a large-scale
joint venture among business families of Pakistan, including Habib,
Cowasjee, Dada, Arag, and Adam, which held ownership until 1963 when Valika family acquired the stake. Under the Valika family's leadership, the company built
Al-Abbas, which was the first major ship to be built in Karachi Shipyard. The company was nationalized by the
Government of Pakistan under then President
Zulfikar Ali Bhutto. It was later merged with other Pakistani nationalized shipping companies to create the
Pakistan National Shipping Corporation. In 1949, it became the first Pakistani shipping line to be publicly listed on the
Karachi Stock Exchange. Muhammadi House on McLeod Road (now
I. I. Chundrigar Road) was the
headquarters of the company. ==Ships==