News

Green Line Shipping Enters Joint Venture with Interocean Group to Strengthen Maritime Capability in Azerbaijan and the Caspian

Green Line Shipping has agreed a new joint venture with Interocean Group, a Glasgow-headquartered maritime and offshore energy services group operating in 17 countries — a partnership that strengthens the maritime and offshore capabilities available to clients across Azerbaijan and the wider Caspian region.
The venture is being formed between Green Line Shipping LLC in Baku and Interocean Energy Services FZCO, part of Interocean Group. For Green Line Shipping, it's a significant step in the company's continued growth, bringing together our deep local knowledge, established delivery track record and understanding of the Azerbaijan and Caspian markets with Interocean's international standards, technical capability and offshore experience.
Green Line Shipping provides ship management, vessel chartering, marine engineering, ship repair, consulting, training and project delivery across Azerbaijan, the Caspian region and international markets. Through this joint venture, we gain a stronger platform to pursue larger regional tenders and strategic opportunities — backed by Interocean's governance, project delivery systems and integrated asset solutions expertise — while continuing to lead on local execution, stakeholder engagement, logistics coordination and client interface across the region.
This is a strategic, non-equity collaboration and joint venture framework, not a merger or acquisition of either company. Green Line Shipping continues to bring local market knowledge, operational support, stakeholder engagement, logistics coordination and regional client interface capability, while Interocean contributes international experience, technical capability, governance and project delivery systems. Opportunities will be evaluated jointly where there is mutual strategic value and a clear benefit to the client, with delivery models and governance agreed on an opportunity-by-opportunity basis.
For our team, the partnership means access to international standards, governance frameworks and technical resources that support bigger and more complex projects, a stronger position from which to compete for regional and international tenders, and a platform to keep building more sustainable, safe and reliable ways of working for our clients across the Caspian.
Renat Rzayev, CEO and founder of Green Line Shipping, said: "This joint venture with Interocean represents an important step for Green Line Shipping as we continue to strengthen the maritime capabilities available in Azerbaijan and the wider Caspian region. By combining Interocean's international standards and offshore experience with our local knowledge and operational understanding, we are building a partnership focused on safe execution, responsive service and long-term value for customers. We also share a clear commitment to more sustainable ways of working, and we see this venture as a strong platform for future growth."
Alex Clark, Group CCO at Interocean, added: "Baku is a key hub for maritime and offshore activity in the Caspian region, and Green Line Shipping brings the local knowledge, delivery focus and shared ambition we value in a long-term partner."