Today Azerbaijan Caspian Shipping Company has put into operation a high-speed passenger ship Rashid Behbudov, a tanker Ganja and a freighter Gafur Mammadov. The ceremony was attended by President Ilham Aliyev. The tanker Ganja with a load capacity of 7,000 tons is one of two new tankers ordered by Caspian Shipping Company and Caspian Marine Services Alliance. This tanker is able to move in shallow waters. The technical indexes of the Ganja will provide it an opportunity to enter shallow-water ports on the Caspian Sea, as well as move in the Volga-Don and Volga-Baltic channels.
The speedy passenger ship constructed on the Australian shipyard Austal and commissioned by the Caspian Shipping Company and Caspian Marine Services Alliance is designed for 150 passengers. The vessel will carry out orders of BP.
The cargo ship Gafur Mammadov with a load capacity of 3,000 tons was built in order to update the cargo fleet. -71D-
Economics
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Azerbaijan’s economy, which is heavily dependent on oil revenues, faces a stark warning in the 2021 report by Carbon Tracker titled “Beyond the Oil States: The Urgent Need to Reduce Dependence on Oil in the Context of the Energy Transition.” The report ranks Azerbaijan among the most vulnerable oil-dependent countries, placing it in the "5th group" — a category reserved for nations expected to experience a decline in oil and gas revenues exceeding 40% over the next decade. This group includes Angola, Bahrain, Timor-Leste, Equatorial Guinea, Oman, and South Sudan, highlighting shared economic risks for these states.
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Azerbaijan's non-oil and gas exports rose 3.5% year-on-year to $2.8 billion during the first ten months of 2024, the Center for Analysis of Economic Reforms and Communication (CAERC) reported in its November "Export Review."
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Azerbaijan Railways CJSC (ADY) will modify the schedules for commuter and domestic trains in line with the Cabinet of Ministers' decision to adjust work and rest days in November, aiming to ensure safe and comfortable travel during the COP29 event, the company announced.
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In Azerbaijan, the government has increasingly relied on tax exemptions for imported goods as a tool to stabilize domestic market prices. The exemption from the 18% VAT on wheat imports, extended this year, exemplifies this approach. New measures have also been introduced, including tax relief on imports of electric vehicle chargers, while exemptions for high-cost medications are currently under discussion. Notably, defense imports continue to be free from taxes and customs duties.
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