Azerbaijan Caspian Shipping Company eyes to receive 5 new vessels by end-year

Azerbaijan Caspian Shipping Company (ASCO) plans to receive five new vessels during the year, Chairman of ASCO Rauf Valiyev told reporters in Baku Feb. 21, Trend reports.

He said that two vessels will be built at the Baku Shipyard, and the rest will be acquired from foreign companies. In general, the ASCO plans to annually purchase two vessels from the Baku Shipyard each year, he noted.

He reminded that the fleet renewal process has been going on for the past five years. During this period, ASCO acquired 20 new ships, he said.

Valiyev added that the Baku Shipyard continues to build four more vessels for ASCO.

“We must constantly update our fleet in order to ensure continuous development in conditions of high competition,” Valiyev said.

The tanker Lachin, which was set afloat Feb. 21, is a part of the policy of turning Azerbaijan into a key logistics center of the region, he added.