Baku International Sea Trade Port auctions off its vessel

At an auction in Azerbaijan, the Shafaq (Sunrise) vessel belonged to Baku International Sea Trade Port CJSC was sold for AZN70,000 ($41,180), Azernews reports.

The 1985-built vessel was privatized by the State Service on Property Issues as a result of the auction.

The vessel was sold because of the excessive financial resources needed for a significant overhaul to remove the effects of the marine environment, the deterioration of the serviced mechanisms, the effects of a protracted standstill, and the non-compliance of the vessel's current technical condition with the International Maritime Organization requirements (IMO).