Baku Port capacity to increase to 260,000 TEU in two years

The capacity of the Baku International Sea Trade Port will be increased to 260,000 TEU within two years, said CEO of Alliance Multimodal LLC Natig Jafarov.

According to Report, he made these remarks at the "Black Sea–Caspian Cargo Forum: Corridors, Cargo, Infrastructure" held in Baku.

Jafarov emphasized that the Zangazur Corridor will further expand Azerbaijan's connectivity with both East and West.

"Currently, the Baku Port has a capacity of 150,000 TEU, which will rise to 260,000 TEU over the next two years. The port can presently handle 60,000 vehicles and 100,000 railcars annually," he stated.

He also noted that once operational, the Zangazur Corridor will enable the transportation of an additional 15 million tons of cargo per year.

"Azerbaijan's investments in the transport sector reflect its commitment to building a foundation for the Middle Corridor. The past five years have been a stress test for global logistics. The COVID-19 pandemic led to container chaos and record-high shipping costs. The blockage of the Suez Canal disrupted 12% of global trade, and the war in Ukraine shut down key rail routes.

Before the pandemic, China-Europe freight tariffs were around $1,800. Then came the crisis, pushing rates to $14,000. Although they later stabilized, they have once again risen to around $5,000," Jafarov said.

He stressed that the Middle Corridor is no longer just an alternative route: "It is becoming a reliable path for global trade. Demand for the Middle Corridor is rising during global crises, as it is shorter and faster than sea routes and is backed by intergovernmental cooperation."