SOCAR and MSC signed a strategic cooperation agreement

The State Oil Company of Azerbaijan (SOCAR) and the world's largest transport company MSC (Mediterranean Shipping Company) have signed a strategic cooperation agreement.

As reported by BAKU.WS with reference to SOCAR, according to the agreement, the global terminal operator "Terminal Investment Limited" (TIL), which is a subsidiary of MSC, will become a shareholder of "SOCAR Terminal".

During the signing ceremony held in Baku, it was announced that joint investments in "SOCAR Terminal", the largest container port in the Aegean region, will help strengthen Turkey's position in the global supply chain.

The cooperation will ensure the integration of "SOCAR Terminal" into TIL's extensive global network. Through new investments in equipment and technology, the terminal will increase its existing capacity, improve operational efficiency, achieve significant success in digitalization, sustainable development, and infrastructure.

"SOCAR Terminal" is the largest container terminal in the Aegean region, having strategic importance for both regional and global trade. It has a continuous berth line of 700 meters and a depth of 16 meters, as well as a port area of 420 thousand square meters and a rear area of 30 thousand square meters.

"SOCAR Terminal" can accommodate large new generation ULCS class vessels and simultaneously process several main vessels, which significantly reduces waiting time.

"SOCAR Terminal", operating under the concept of "port of the future", applies the highest standards of labor protection and safety, maintains a leading position in the industry thanks to investments in digitalization and technology. In addition, it creates a sustainable business model by reducing carbon footprint, investing in renewable energy sources, and improving energy efficiency.