Azerbaijan centralized its shipping company. As previously reported, yesterday President Ilham Aliyev signed a decree on the establishment of JSC Azerbaijan's Caspian Sea Shipping, bringing together the resources of state shipping company Caspian Shipping Company (Kaspar) and the Caspian Sea Oil Fleet of the state oil company SOCAR.
Responding to a question about whether solutions Turan, the head of SOCAR Public Relations Nizamaddin Guliyev noted that the recent commissioning of the factory ship (the project is implemented by SOCAR Azerbaijan Investment Company and the Singapore-based Keppel Offshore & Marine with 65, 25 and 10 % equity interest) and the construction of the port led to the centralization of the industry. In addition, the state oil company has become an active regional player not only in the sector of the Caspian Sea, but also in the Black Sea and the Mediterranean Basin.
Kaspar is 100% performs identical functions - there was placed the orders for the transportation of oil and oil products, as was appropriate to create a unified industry structure, he said.
"As regards the appointment of Rauf Veliyev the head of the Closed Joint Stock Company, he is the boss of the transport office of SOCAR, has previously been the captain of a vessel, and has practical experience of management and organization. He is young, energetic, and elders will help him," said Guliyev .
Total on balance of the new government structure there are about 330 ships, some of which serve a term of operation - SOCAR Oil Fleet had 250 and Kaspar had 80 of them. Since 2003, overseas ordered were 16 ships for the main operator of oil projects in the Caspian Sea - BP Corporation.
According to experts, the creation of CJSC Azerbaijan's Caspian Sea Shipping does not imply a weakening of transportation management positions of SOCAR, because its president Rovnag Abdullayev, personally recommended Rauf Veliyev for the post of steering the new monopoly. Centralization and concentration of financial flows also means strengthening of presidential power and the ruling of the Nakhichevan clan, the evidence of which was resignation of the former multi-year head of Kaspar Aydin Bashirov and his change by a man who comes from a different region.
In addition, the centralization of transport capacity of the oil monopoly may lead to a denial of service fleet of the company Palmali (it has its own fleet of 170 large-tonnage ships and carries around the world oil from the Caspian basin ), the owner of which is an Azerbaijani citizen of Turkey Mubariz Mansimov, experts in the absorption of businesses believe. - 17D-
Economics
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Azerbaijani internet service providers Aztelekom and Baktelekom will introduce substantial changes to their pricing structure starting August 15, the companies announced today. Under the new tariffs, the minimum internet speed will rise to 100 Mbit/s, with the cost per Mbit/s decreasing from 0.45 AZN to 0.25 AZN. As a result, monthly charges will be set at 25 AZN for 100 Mbit/s, 30 AZN for 150 Mbit/s, and 36 AZN for 250 Mbit/s.
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Independent experts suggest that Azerbaijan may be on the verge of another devaluation of its currency, the manat, due to a shrinking trade and payment surplus. The anticipated economic adjustments come amidst a decline in foreign currency inflows and reduced oil production.
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Azerbaijan’s Foreign Minister Jeyhun Bayramov met today with Ahmed Moallim Figi, the Minister of Foreign Affairs and International Cooperation of Somalia, at the Azerbaijani Foreign Ministry. This meeting followed a discussion held the previous day between Figi and Azerbaijan’s Economy Minister Mikail Jabbarov.
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