Azerbaijan's oil giant SOCAR teams up with global shipping titan MSC to boost Aegean trade

Azerbaijan’s state oil company, SOCAR, has entered into a strategic cooperation agreement with the Mediterranean Shipping Company (MSC), the world’s largest shipping firm, SOCAR announced via Caliber.Az.

The signing ceremony in Baku highlighted both companies’ commitment to jointly investing in SOCAR Terminal, the largest container port in the Aegean region, a move expected to bolster Turkey’s role in the global supply chain.

Under the agreement, MSC’s subsidiary and global terminal operator, Terminal Investment Limited (TIL), will take a stake in SOCAR Terminal.

The partnership aims to integrate the terminal into TIL’s worldwide network, while technological and equipment upgrades are set to enhance throughput capacity, operational efficiency, digitalisation, sustainability, and overall infrastructure development.

SOCAR Terminal is a strategically significant facility for regional and international trade, featuring a 700-metre continuous berth, 16-metre water depth, a 420,000 m² port area, and a 30,000 m² backwater area.

The terminal is capable of accommodating new-generation ULCS-class large-tonnage vessels and is designed to minimise waiting times by simultaneously handling multiple large ships efficiently.

By Tamilla Hasanova