ASCO and Columbia Shipmanagement to establish Joint Venture

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Mr. Rauf Valiyev, the Chairman of “Azerbaijan Caspian Shipping Company” CJSC (ASCO) and Mr. Heinrich Schuller, the Chairman of “Columbia Shipmanagement” Ltd sign the MoU (Image Courtesy: ASCO)

The Azerbaijan Caspian Shipping Company (ASCO) and Columbia Shipmanagement LT. will create a joint venture, the ASCO announced on Wednesday. In this regard, Rauf Valiyev, the Chairman of Azerbaijan Caspian Shipping Company CJSC (ASCO) and Heinrich Schuller, the Chairman of Columbia Shipmanagement Ltd signed a memorandum of cooperation.

The new joint venture will further enhance bilateral cooperation. Thus, the company will create a solid basis for the exchange of experience on the operation of large tankers in international waters, training of seafarers and office staff of ASCO, and ensuring the participation of the Shipping Company in new foreign projects.

The parties reached an agreement to continue negotiations on the creation of a joint venture and the development of the necessary technical and economic documentation.

It should be noted that Azerbaijan Caspian Shipping Company (ASCO) and the Columbia Shipmanagement company closely cooperate with each other.

As a result of such cooperation the seafarers of the Azerbaijan Caspian Shipping Company and the students of the Azerbaijan State Maritime Academy get internship on the vessels of this international company. This joint project can be used by more than 20 seafarers of the Shipping Company during the year.

Sea News, October 25

Baibhav Mishra
Author: Baibhav Mishra

Associate Editor, Sea News