At the end of 2012 the Azerbaijan State Caspian Shipping Company, despite the decline in freight traffic by 100 thousand tons, increased revenues by 7.2%. Shipping pursued a flexible tariff policy on international services, carried out in the Caspian area.
According to the State Statistics Committee, in 2012, the revenues of shipping companies increased 113 million manat. The costs of transportation services totaled 102.9 million manat, increasing by 4.6%, and the profit obtained totaled 10.120.
In 2012, by sea were transported 12.4 million tons against 12.5 million tons in 2011.
Azerbaijan State Caspian Shipping Company extends the fleet through purchases of ferries and tankers in Russia and Croatia. The transport fleet includes 82 vessels, including 43 tankers, 39 - dry cargo vessels (including seven railway ferries, two cargo ships of Ro-8, and six cargo ships of Ro-ro), with a total deadweight of 488,000 tons. - 08B-
Economics
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On July 26, the Ministry of Economy hosted a meeting with entrepreneurs from the non-oil industry to explore ways to stimulate local production and enhance export potential.
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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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