ASCO Establishes JV with Columbia Shipmanagement

The Azerbaijan Caspian Shipping Company (ASCO) and Columbia Shipmanagement will create a joint venture, the ASCO said in a press release.

Rauf Valiyev, the Chairman of ASCO and Heinrich Schuller, the Chairman of Columbia Shipmanagement  signed a memorandum of cooperation in this regard, it said.

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.

As a result of the cooperation between two companies 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.