TBILISI, September 26 – Georgia’s plans to revive its shipbuilding industry remains a dream, while the country’s neighbors on the Caspian Sea are moving forward with major new investments, according to a study by the Transport Corridor Research Center (TCRC).
In Azerbaijan, the Baku Shipyard has become a regional powerhouse. Earlier this year, the country’s state transport holding company (AZCON Holding) and Abu Dhabi Ports Group signed a deal to build two container vessels, each with a capacity of 780 TEU, to boost transport links across the Caspian. Construction is set to finish in 2028.
The Baku yard already has USD 292 million worth of contracts for 14 new ships. Since its launch, it has built 12 vessels valued at USD 628 million and repaired more than 200 others for Azerbaijan and its Caspian neighbors. Talks are also underway on new contracts, including tankers and dry cargo carriers, while construction has begun on an 8,000-ton oil tanker to be gifted to Turkmenistan.
Kazakhstan, Azerbaijan, and Turkmenistan all maintain domestic shipbuilding and repair facilities and are steadily modernizing their fleets. Georgia, by contrast, has yet to follow through on repeated pledges to reopen its own yards. In 2019, Dutch giant Damen Shipyards was floated as a potential investor on the Black Sea coast, but the project never advanced beyond preliminary talks.
