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ASCSC Spent Nearly $100 mln on Acquisition of New Vessels ASCSC Head

Politics Materials 27 October 2006 15:05 (UTC +04:00)
ASCSC Spent Nearly $100 mln on Acquisition of New Vessels  ASCSC Head

Over the period of 3 years, Azerbaijan State Caspian Shipping Company (ASCSC) has acquired 8 new vessels. Amongst the post-Soviet countries, no shipping company has acquired such number of vessels within the same period, the Chief of the Company Aydin Bashirov told, Trend reports.

In general, the new vessels took nearly $100 mln, with $95 mln for the acquisition of tankers. Generally within 3 years, ASCSC has acquired 7 new tankers. In addition, one more dry cargo ship has been acquired.

According to the Head ASCSC, the period of payback of these vessels will take nearly 5-6 years. Today the fleet of the Company comprises of 75 vessels, with 40 tankers, 35 dry cargo ships and ferries. In addition, the balance of the Company includes 34 subsidiary, service and technical vessels.

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