The Cabinet of Ministers adopted Resolution # 490, providing for a change in the statute and structure of the CJSC Azerbaijan Caspian Shipping on November 30.
A subsidiary agricultural enterprise Denizci (Sailor) has been derived from the shipping company’s structure and is planned to be privatized. The new structure has included LLC ACSC Logistics and the Denizci building society as subsidiary legal entities. In addition, the shipping company’s structure may include legal entities and joint ventures established by the company outside the country.
The structure also includes the dry cargo port Zykh, and the Inflot Maritime Agency.
The shipping company has offices in all the five Caspian countries, as well as in Ukraine and Turkey.
Caspian Shipping was founded in January 2014 on the basis of the Caspian Shipping Company and SOCAR Caspian Marine Fleet. ------08D
Economics
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The International Association of Drilling Contractors (IADC) opened its annual "IADC Drilling Caspian" conference in Baku on Tuesday, bringing together industry leaders to discuss advancements in oil and gas drilling, as well as the growing role of geothermal energy.
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The volume of cargo transported along the Trans-Caspian International Transport Route (TITR) surged by 62% in 2024, reaching 4.5 million tonnes, Kazakhstan’s Prime Minister Olzhas Bektenov said during talks with his Georgian counterpart Irakli Kobakhidze on Wednesday, according to the Kazakh government’s press service.
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Azerbaijan’s Small and Medium Business Development Agency (KOBİA) held a Supervisory Board meeting on Monday, chaired by Economy Minister Mikayil Jabbarov, to review the agency’s 2024 performance and set priorities for 2025.
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In January 2025, the average price of the consumer basket (CB) compiled by the Turan agency in Baku, which includes 30 types of essential domestically produced food products, increased by 0.3%.
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