SOCAR, MSC sign strategic cooperation deal

Azerbaijan’s state oil company SOCAR and Mediterranean Shipping Company (MSC), the world’s largest transport firm, have signed a strategic cooperation agreement.

Under the deal, MSC’s subsidiary and global terminal operator Terminal Investment Limited (TIL) will become a shareholder in SOCAR Terminal, the largest container port in the Aegean region.

The companies said the partnership will strengthen Turkey’s role in global supply chains and integrate the port into TIL’s worldwide network, boosting its digitalization, sustainability and operational efficiency.

SOCAR Terminal features a 700-metre quay, 16-metre depth and a 420,000-square-metre area, enabling it to handle new-generation ULCS vessels and reduce turnaround times.