The Supervisory Board of Azerbaijan Caspian Shipping CJSC held its meeting

The next meeting of the Supervisory Board of Azerbaijan Caspian Shipping Closed Joint-Stock Company (ASCO) was held on November 30, 2023.

At the meeting chaired by the Minister of Finance Samir Sharifov and attended by the members of the Supervisory Board and the management of ASCO, the management report of the Company's budget for the first 3 quarters of 2023 was heard, and information on the budget implementation status for the current year was reviewed.

The Company's budget forecasts for the next year were discussed and approved by the Supervisory Board.

In addition, the meeting discussed ASCO investment activities for 2024–2026, the issue of fleet renewal, and strategies for financing investment activities related to the construction of new ships at the Baku Shipyard and the acquisition of ships that will operate in water basins outside the Caspian Sea to meet the increased traffic on the Trans-Caspian route.

The meeting also considered other current issues regarding Azerbaijan Caspian Shipping CJSC activity.

The Supervisory Board of the Azerbaijan Caspian Shipping Closed Joint-Stock Company was established by the Decree of the President of the Republic of Azerbaijan dated February 11, 2021.