ASCO holds celebration ceremony for "Aframax" type tanker "Shusha"
Within the framework of the project, with the approval of the Supervisory Board of SOCAR and ASCO, the Joint Venture "SA Maritime AFEZCO" was incorporated on a parity basis and registered in the Alat Free Economic Zone. Following market research, the Joint Venture initially carried out the necessary procedures for acquiring three "Aframax" type tankers, each with deadweight (i.e., gross carrying capacity) of approximately 115,000 tons. Two of these tankers are owned by a third party, while one tanker is owned by SOCAR, according to the company's release.
The "Aframax" type tankers will be operated and managed by "ASCO Ship Management AFEZCO," a wholly-owned subsidiary of ASCO registered in the Alat Free Economic Zone. This company intends to increase the number of vessels under its management, provide management services for other vessels owned by third parties and expand its activities by performing services meeting the leading international requirements.
Until now, the largest vessel operated in the shipping history of Azerbaijan had deadweight of 13,000 tons.
The commissioning of two more "Aframax" type tankers, namely "Karabakh" and "Zangezur," outside the Caspian Sea, is nearing completion. The vessels will be commissioned sequentially in the upcoming weeks.
