The Azerbaijan Caspian Shipping Company (ASCO) and Columbia Shipmanagement LT. will create a joint venture, the ASCO said in a message Oct. 23.
In this regard, ASCO Chairman Rauf Valiyev and Chairman of the Board of Columbia Shipmanagement Ltd. Heinrich Schuller signed a memorandum of understanding.
It is noted that the parties agreed to continue negotiations on the creation of a joint venture and the development of the necessary technical and economic documents.
“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 ASCO employees, as well as the participation of ships in new international projects,” the company said.
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