Azerbaijan doubles import of ships, boats

BAKU, Azerbaijan, Oct. 6

By Fidan Babayeva - Trend:

Azerbaijan imported ships, boats, and floating structures worth over $10.9 million from January through August 2020, which 2.1 times more compared to the same period of 2019, Trend reports citing the statistical bulletin of the State Customs Committee (SCC) of Azerbaijan.

In the past eight months 2020, Azerbaijan’s export of ships, boats, and floating structures reached $82,020, a decline of 1.9 times year on year, the bulletin said.

Baku Shipyard LLC (shipbuilding plant) was registered as a resident of Garadagh Industrial Park.

The plant, which meets modern requirements, created on the basis of technologies from Finland, the Netherlands, Germany, the UK, Korea, and Singapore, assembles and repairs tankers, bulk carriers, and vessels for various purposes.

In 2019, the State Oil Company of Azerbaijan (SOCAR) increased its share in the Baku Shipyard from 70.21 percent to 87.47 percent.

The other shareholders of the company are Azerbaijan Investment Company (8.95 percent) and KV Enterprises B.V. in Singapore (3.58 percent).

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