Azerbaijan Caspian Shipping Company CJSC (ASCO) has reported that the first ASCO Handysize-type dry cargo ship named Khojaly passed into American waters under the Azerbaijani flag for the first time, Azernews reports.

This vessel, with a cargo of 30,800 tons of cement, sailed from the South Korean port of Bupyeong to the American port of Portland for 20 days, covering a distance of 8,390 km.

"This event happened for the first time in the history of Azerbaijan's shipping industry. The dry cargo ship "Khojaly" became the first vessel of independent Azerbaijan, which entered under the flag of Azerbaijan to the US port, delivering their international cargo," the report of ASCO emphasizes.

The vessel "Khojaly" was purchased within the framework of the Strategic Program of Azerbaijan's shipping development to expand the geography of national shipping outside the Caspian Sea and increase the potential of cargo transportation in international basins.

ASCO and the European Bank for Reconstruction and Development (EBRD) signed an agreement on February 1, 2024, on the acquisition of two Handysize dry bulk carriers (70 percent of the financing for the purchase of the ships, or $42 million, was secured by an EBRD loan without state guarantees, and 30 percent (or $18 million) by ASCO's internal resources).

The Khojaly vessel has a cargo-carrying capacity of 38,593 tons. This is about 8 times higher than the cargo-carrying capacity of existing ASCO dry cargo ships. The ship is 180 meters long, 30 meters wide, 15 meters high, and has a draft of 10.47 meters. Due to its maximum cargo capacity, the ship can enter many harbors around the world.

Handysize"-type dry cargo ships accepted for ASCO balance support Azerbaijan's aspiration to strengthen the country's position as the most important link of the Middle Corridor connecting Central Asia and the South Caucasus with world markets.

Azerbaijan Caspian Shipping Company CJSC (the largest fleet on the Caspian Sea) currently has 55 vessels for various purposes on its balance sheet.