For the first eight months of 2013 the volume of freight of Azerbaijan State Caspian Sea Shipping Company totaled 7,847 thousand tons, which is 7.3 % less than in the comparable period of 2012.
According to the State Statistics Committee, oil accounts for 57.1 % of the cargo, and dry bulk is 42.9%. In this case, 84.5 % of the freight was carried in transit in the Caspian area.
Gains on the transport of 6 million tons of cargo by water transport in the first half of this year amounted to more than 51 million manat. This is 12 % less than in January -June 2012. Shipping costs are also reduced by 3%, which in the first half of the year amounted to 49 798.7 thousand manats.
Azerbaijan State Caspian Shipping Company extends the composition of the fleet through purchases of ferries and tankers in Russia and Croatia. The transport fleet comprises 82 vessels, of which 43 are tankers and 39 are dry cargo vessels ( including 7 railway ferries , 2 cargo ships of Ro-8 and 6 cargo ships of Ro-Ro), with a total deadweight of 488 thousand tons . - 08D-
Economics
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The market for vegetable and animal fats in Azerbaijan is largely shaped by a structural dependence on imports, as domestic production remains insufficient to meet the country's growing consumption needs. This dependency is underscored by several economic factors, including limited agricultural production and a lack of processing facilities, leaving the sector ill-prepared to reduce reliance on foreign supplies.
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The INMerge Ventures venture capital fund has been established in Azerbaijan, aimed at boosting the development of the country’s innovative and startup ecosystems, officials announced on Tuesday.
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Azerbaijan is set to roll out a comprehensive digital economy development strategy in 2025, aimed at transforming the country's economy through human capital development, innovation, and the digitalization of business processes, an official announced on Tuesday.
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Issues related to the development of the energy sector through digital innovations were the subject of negotiations between Rovshan Najaf, President of SOCAR, and Seita Hagihara, President and Vice President of Yokogawa Electric Corporation, a leading Japanese multinational company specializing in electrical engineering and industrial automation.
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