BAKU, Azerbaijan, January 28. Azerbaijan Caspian Shipping Company (ASCO) has ordered the construction of 13 new vessels from 2022 through 2024, Deputy Chairman of the ASCO Management Board Zaur Naghiyev told Trend.
"Despite the COVID-19 pandemic and complex geopolitical situations such as the war in Ukraine and conflicts in the Middle East that occurred in the last five years, ASCO has managed to successfully maintain its course in these turbulent waters.
The difficulties faced in traditional markets like Russia and Ukraine, as well as the Black and Caspian seas, required quick and efficient restructuring of ASCO's activities. This period has once again emphasized the importance of adaptation, flexibility, and timely actions for the company," he said.
The deputy chairman noted that in accordance with the instructions and recommendations of President Ilham Aliyev, and taking into account new challenges and opportunities, the ASCO Board of Directors has approved a strategy aimed at expanding activities beyond the Caspian Sea, entering new segments, and ensuring sustainable development.
"In recent years, we have entered two new market segments with larger vessels, including an Aframax tanker and a Handysize bulk carrier. These initiatives have allowed us to establish strong relationships with new partners, based on mutual benefit and respect," he emphasized.
Naghiyev also highlighted the projects implemented during this period to renew the fleet.
"As a result of the projects implemented and planned by ASCO over the last five years, we have almost doubled the deadweight of our fleet. In addition to acquiring used vessels, ASCO has also invested in new construction projects. A total of six new vessels were put into operation during this period, including two Ro-Pax vessels and four tankers.
From 2022 through 2024, ASCO ordered the construction of 13 new vessels, including one Ro-Pax, three chemical tankers with a deadweight of 8,000 tons, three high-speed passenger vessels, four submarines, and two dry cargo ships with a deadweight of 9,800 tons. All of these projects are expected to be completed within two-three years.
When purchasing and constructing ships, we focus on high quality and environmental requirements. Our goal is to serve customers with the most modern vessels and contribute to environmental protection with minimal waste and emissions. We are confident that these values are highly appreciated by our clients and contribute to strengthening cooperation aimed at sustainable development," he pointed out.
Naghiyev also spoke about how ASCO applies the principles of sustainability, transparency, and equality.
"Fleet development, environmental issues, and the well-being of our employees are among our priority areas. We are committed to providing fair working conditions and respectful treatment for everyone.
With zero tolerance for discrimination, persecution, or inequality, we support each member of our team, pay attention to those in need, and create an inclusive and supportive work environment.
We also follow responsible business practices based on the principles of sustainability, transparency, and fairness. We adhere to international standards, such as the G20/OECD corporate governance principles, the UN Sustainable Development Goals, and ISO 37001:2016.
Our goal is not only to meet modern standards but also to strengthen ASCO's international reputation. We recognize the importance of investing in human capital as an essential part of long-term sustainable development.
All current and planned activities are aimed at achieving results that will benefit future generations. In the coming years, we intend to achieve all our strategic goals and continue to provide our customers with high-quality services while adhering to environmental standards.
We are confident that, with the special attention and support of President of Azerbaijan Ilham Aliyev to the maritime transport sector, ASCO will move forward as a transformed company with an updated fleet, a strong presence in new markets, and satisfied employees effectively managing our company," Naghiyev added.
The “Azerbaijan Caspian Shipping” Joint-Stock Company merged the country’s main fleets, the Azerbaijan State Caspian Sea Shipping Company and the State Oil Company of the Azerbaijan Republic’s Caspian Sea Oil Fleet. The “Azerbaijan Caspian Shipping” CJSC has two shipyards and offshore support and commercial fleets. The merchant fleet has 51 ships: 20 tankers, 12 ferries, 16 dry cargo, one Ro-Ro, and two Ro-Pax. By integrating maritime fleets, the “Azerbaijan Caspian Shipping” Closed Joint-Stock Company takes on high-level responsibilities.
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