Azerbaijan expands global shipping fleet with high-capacity tanker With Unlimited Range / PHOTO

Azerbaijan has expanded the operations of the Azerbaijan Caspian Shipping Company (ASCO) by acquiring an "Aframax"-type tanker with unlimited range, strengthening its freight capacity beyond the Caspian Sea and advancing its 2022–2030 Development Strategy.

Mehman Mehdiyev, the head of ASCO’s press service, confirmed to Caliber.Az that the decision was based on market research and involved acquiring a vessel previously operated by Capital Maritime and Trading Corp.

To formalize the handover, representatives of ASCO and Capital Maritime and Trading Corp signed the necessary agreements. The newly acquired tanker boasts a deadweight of 115,500 tonnes, a length of 249.95 metres, a width of 44 metres, and a hull height of 21.2 metres. 

The ship, capable of speeds of up to 16 knots (nearly 30 km/h), meets the latest international safety and environmental standards, ensuring the efficient and safe transport of oil and petroleum products. It is also fuel-efficient and equipped with advanced safety systems.

This tanker, now fully owned by ASCO, was financed through the company’s profits. Under a three-year time-charter agreement, the vessel has been leased to the Brazilian national oil and gas company Petrobras for operation during this period.

Following the handover, the tanker successfully completed its maiden voyage, transporting cargo from Brazil to Singapore and Malaysia. Its next scheduled journey will take it from Malaysia to Saudi Arabia in the coming days.

Since 2023, ASCO has commissioned seven high-capacity vessels in international waters, including five Aframax tankers and two Handysize dry cargo ships. Four of these tankers were acquired through a joint venture between ASCO and SOCAR.

Expanding operations beyond the Caspian Sea and contributing to the national economy through the export of domestic shipping services remain ASCO’s primary objectives. Efforts in this direction will continue in the years to come.

By Aghakazim Guliyev