Caucasus

Global port operator DP World has entered into a strategic agreement with APM Terminals to jointly develop the South Container Terminal at the Port of Jeddah. As part of the deal, APM Terminals will acquire a minority 37.5% stake, while DP World will retain a controlling 62.5% stake and continue to manage the facility. The agreement formalizes APM Terminals’ ownership of the terminal while maintaining the existing operating model.

The freight division of KTZ Express, together with Georgian Railways and the Ministry of Digital Development and Transport of Azerbaijan, have completed the main stage of digitalizing freight transportation between the countries. The project was launched in August 2025 to develop the Trans-Caspian International Transport Route, and in October, the heads of the railway administrations of the three countries approved a joint action plan in Almaty.

Rovshan Rustamov, Chairman of the Board of Azerbaijan Railways (ADY), part of the AZCON holding, visited the Turkmenbashi International Seaport as part of his official visit to Turkmenistan. Port Director Parahat Jumayev presented the delegation with a detailed overview of the port’s infrastructure, technical capabilities, and transit potential.

On February 10, 2026, a quadripartite meeting was held in Ashgabat with the participation of Rovshan Rustamov, Chairman of Azerbaijan Railways (ADY), part of AZCON Holding; Mammed Akmammedov, Minister of Railway Transport of Turkmenistan; Zufar Narzullaev, Chairman of the Board of Uzbekistan Railways; and Lasha Abashidze, Director General of Georgian Railways. The parties discussed key areas of cooperation in the railway sector and prospects for joint development of the Middle Corridor as a strategic transit route in the region.

On February 9, 2026, Azerbaijan Railways Chairman Rovshan Rustamov held a working meeting in Tashkent with Zufar Narzullaev, Chairman of the Board of Uzbekistan Railways, and Lasha Abashidze, CEO of Georgian Railways. The Azerbaijani company is part of AZCON Holding.

Global container fleet capacity will increase by approximately 3% in 2026, almost half the long-term average of approximately 6%. These figures are presented in the February Ocean Freight Market Update, prepared by DHL Global Forwarding. The company attributes the slowdown to port congestion and ongoing bypasses of the Suez Canal, which limit the effective supply of fleet in the market.

In 2025, dredging vessels from ASCO, a subsidiary of AZCON Holding, carried out large-scale operations in port and industrial facilities, completing over 130,000 cubic meters of dredging. The work was aimed at maintaining the required depths and safe conditions for mooring and fleet operations.

During a visit to Tashkent, Rovshan Rustamov, Chairman of Azerbaijan Railways (ADY), a subsidiary of AZCON Holding, met with Zufar Narzullaev, Chairman of the Board of Uzbekistan Railways, and Lasha Abashidze, CEO of Georgian Railways. Following the talks, a decision was made for Georgia to join the International Association “Eurasian Transport Route.”

The first container train from Nanchang, Jiangxi Province, crossed the Kazakh border through the Khorgos border crossing and transited through the country toward the port of Aktau. The cargo will then be shipped across the Caspian Sea to Baku, onward to Turkey and other countries. The new service is organized as part of the Trans-Caspian International Transport Route (TITR).

A delegation from Azerbaijan Railways (ADY), a subsidiary of AZCON Holding, held meetings in Tashkent with representatives of leading Uzbek freight transportation companies. The main topic of the talks was strengthening the strategic role of the Middle Corridor in the Eurasian transport system.