12. (1) It shall be the function of the Corporation to provide safe and efficient shipping and water transport services on coastal and inland water routes and to carry out all forms of activities connected with or ancillary to such shipping and water transport.
(2) Without prejudice to the generality of the foregoing provision, the Corporation shall, in particular, have power-
(a) to acquire, charter, hold or dispose of vessels;
(b) to operate inland and coastal oil tankers;
(c) to operate passenger and cargo services including lighterage on coastal and inland waters:
(d) to operate ferry services;
(e) to establish and maintain dockyard and repair workshop;
(f) to do all other things connected with or ancillary to any of the matters referred to in sub-clauses (a) to (e).