Deadweight Tonnage of Merchant Ships of Azerbaijan Decreased by 100,000 Tons

In 2014, the state invested in the maritime transport 142.5 million manat, which is 14.7 times more than in the previous year. Part of the old trading fleet was written off.

According to the State Statistics Committee, last year, the number of merchant and passenger ships of the state JSC Azerbaijan Caspian Shipping Company decreased from 82 to 63. The total deadweight of the ships at the beginning of 2015 was 378.6 thousand tons, which is approximately 100 thousand tons less than in 2013.

Investments in maritime transport in 2013 reached 582.3 million manat. These investments are not reflected in the financial and economic indicators. Only in the last four years, the volume of freight traffic by Azerbaijani ships declined by 20.8% and amounted to about 10 million tons in 2014.

In 2014, the company worked with losses. This trend dates back to 2013. For freight and passenger traffic revenue in the amount of 102.3 million manat 119 million manat was spent in 2014. In 2013, the shipping company’s losses reached 10 million manat.

Over the past two years the number of employees of JSC Azerbaijan Caspian Shipping Company decreased from 10,460 to 8,291 people. Thus in 2014 the average monthly salary of sailors (777 manat) increased over the year by 3.4%. -08B-