Supervisory Board of Azerbaijan Caspian Shipping discusses renewal of fleet, challenges of decarbonization

The next meeting of the Supervisory Board of Azerbaijan Caspian Shipping CJSC (ASCO) took place on 15 May, chaired by Samir Sharifov, the Minister of Finance and the Chairman of the Supervisory Board, and attended by members of ASCO's Supervisory Board and Board of Directors. 

The Company's external auditor presented the results of the audit procedures carried out for 2023 whereas the Board of Directors demonstrated the consolidated financial statements for the same period. Following extensive discussions, the consolidated financial statements were deemed acceptable by the Supervisory Board.

The management report of ASCO for 2023 and other issues related to the current activities were discussed and relevant decisions were made at the meeting.

Furthermore, discussions about the renewal of the company's fleet and the determination of ASCO’s future priorities in light of market conditions, as well as the challenges of decarbonization and "green growth" against the backdrop of global climate changes, have also been held.

The Supervisory Board of Azerbaijan Caspian Shipping CJSC was established according to the Order of the President of the Republic of Azerbaijan dated February 11, 2021.