ECONOMY
ASCO puts into operation another large-capacity vessel with unlimited sailing capabilities
Baku, January 9, AZERTAC
Under the directive of President Ilham Aliyev, consistent measures are being implemented to enhance ASCO’s cargo transportation potential beyond the Caspian Sea and diversify its operational geography. In line with the “Shipping Development Strategy for 2022–2030,” approved by ASCO’s Supervisory Board, another step has been taken.
Based on market research, ASCO has added another “Aframax” type tanker with unlimited navigation capabilities to its fleet, previously operated by “Capital Maritime and Trading Corp.” Representatives from ASCO and “Capital Maritime and Trading Corp.” have signed the necessary documents regarding the tanker’s transfer.
The newly acquired tanker has a deadweight of 115,500 tons, a length of 249.95 meters, a width of 44 meters, and a hull height of 21.2 meters. With a speed reaching up to 16 knots, the vessel is constructed according to the latest standards to ensure the safe and efficient transportation of oil and petroleum products. It meets international environmental requirements, is fuel-efficient, and is equipped with advanced safety systems.
The acquisition of this “Aframax” type tanker, wholly owned by ASCO, was financed through the company’s profits, bonds issued in the local market, and loans from local banks.
Notably, the vessel has been chartered to Brazil’s national oil and gas company, “Petrobras,” for a three-year term, ensuring its operation during this period.
Following the handover, the tanker successfully delivered its first cargo from Brazil to Singapore and Malaysia. In the coming days, its next voyage from Malaysia to Saudi Arabia is planned.
Additionally, since 2023, seven large-capacity vessels have been commissioned in international waters, including five “Aframax” type tankers and two “Handysize” dry cargo ships. Four of these “Aframax” tankers were acquired by a joint venture established by ASCO and SOCAR.
Expanding operations beyond the Caspian Sea and contributing to the national economy through the export of domestic shipping services remain primary objectives for ASCO, with continued efforts planned in this direction.
