ASCO sees nearly 38‑fold surge in profit

The Azerbaijan Caspian Shipping Company (ASCO) closed the first half of 2026 with a profit of 23.386 million manats (just over $13.7 million).

According to Report, citing the company's financial statement, this figure is 37.85 times higher than the same period last year.

In January–June 2026, ASCO's operating revenues totaled 256.421 million manats (up 3.6% year‑on‑year). Of this, revenues from maritime transport services amounted to 113.105 million manats (up 13.2%), revenues from cargo and passenger transportation reached 127.584 million manats (down 1.9%), while other revenues stood at 15.732 million manats (down 9.9%).

Additionally, the state company earned 3.66 million manats in non‑operating income during the six‑month period (compared to a loss in the same period last year).

Within the mentioned period, ASCO's total expenses amounted to 236.695 million manats, reflecting a 4.35% decrease year‑on‑year.

As of July 1, ASCO's assets stood at 1.789 billion manats (down 0.3% from a year earlier). The company's liabilities increased by 18.3% to 603.904 million manats, while its equity capital fell by 7.7% to 1.185 billion manats.

ASCO was established in 2014 with a charter capital of 440.051 million manats and is 100% state‑owned.

According to current exchange rates, 1 US dollar equals 1.70 Azerbaijani manats.