Azernews.Az

Nazrin Abdul

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As a result of market research conducted at Azerbaijan Caspian Shipping Company CJSC (ASCO), the Capital Maritime and Trading Corp shipping company has added a new Aframax tanker with unlimited sailing capabilities to its fleet.

Azernews reports that ASCO and Capital Maritime and Trading Corp representatives signed the relevant documents for the tanker delivery.

The new tanker has a carrying capacity (deadweight) of 115,500 tons. It measures 249.95 meters in length, 44 meters in width, and 21.2 meters in height. With a speed of 16 knots, it was built to the latest standards for the safe and efficient transportation of oil and oil products. The tanker also meets international environmental requirements, is fuel-efficient, and features advanced security systems.

The purchase of this Aframax tanker, fully owned by ASCO, was financed through ASCO's profits, funds from bonds issued in the local market, and a loan from local banks.

This tanker has been time-chartered to Petrobras, Brazil's national oil and gas company, for a three-year period, ensuring its operation during that time.

Following its delivery, the tanker transported its first cargo from Brazil to Singapore and Malaysia. Its next trip will be from Malaysia to Saudi Arabia.

Since 2023, a total of seven heavy-duty vessels have been deployed in international waters, including five Aframax tankers and two Handysize dry cargo ships. Four of the Aframax tankers were purchased by the joint venture between ASCO and SOCAR.

Expanding operations outside the Caspian region and contributing to foreign revenue through the export of local shipping services remains a key goal for ASCO, and this initiative will continue in the coming periods.