Transal calls time on newbuildings pursues new goals
Turkish
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Eregli to hand over Essberger pair Eregli Shipyard, prepares to deliver three chemical tankers out of the four currently under construction. The yard is also set to roll out two tugs. Page 10
Marine Post International Sound of Turkish Shipping
Year: 1 Issue: 3 July-August 2011
Turkish Chamber of Shipping prescribes remedy for oversupply:
No more orders! Page 4
Turks like it big
HSH vents spleen on Turkish Flag Pages 8
Newcomer Turkish investors, coupled with expansion efforts of their deep-rooted elders, continue to change the face of Turkish merchant fleet dramatically as the number of vessels over 30.000 dwt increase steadily.
Denizsan breaks ground with GRP Akgül says, COMPOMARINE will be one of the few brands in the world to collect all onboard GRP products under the same name.
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Industry skeptical over Canal Istanbul
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Yacht tourism whets Turkey’s appetite Turkey announced new projects that will attract more yachts. The purpose of such efforts is to boost the existing 4 billion USD volume to over 10 billion USD in the next decade, with the help of affluent yachting tourists.
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Shipbuilding exports down to $1.2 billion
Foreigners’ foray in Turkish Shipbuilding In the aftermath of the devastating crisis which resulted in massive order cancellations, Turkish shipyards were only able to attract a handful of orders. The situation now urges them to cooperate with foreign investors. As Turkey sustains it appeal for European companies, projects range from setting up new shipyards to establishing propeller workshops. Pages 12-13
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Insurance broker claims Turkish P&I possible Page 22
EDITORIAL... Harsh times looming The world is going through hard times fraught with inflation, rising raw material and food prices. Although the rest of the world’s distresses are likely to have side effects on Turkish inflation and interests, as Euro also gains in power, Turkey will probably benefit in terms of exports. Some experts, on the contrary, assert that recent upward movements concerning oil, of which Turkish is a net importer, will be registered as a loss on the trade balance and will not allow for any improvement regarding the current deficit. All these inevitably entangle recovery and slow down growth as the times ahead will seemingly cause fears and risks to elevate, inflation to gain momentum, international capital movements to weaken and eventually results in the decline of in drops of Turkey’s share in the global investor pool. Turkey might be 7th country driving global economy Since the coin has two sides, despite such gloomy outlook, there are several brighter prospects for Turkey as well… Kemal Derviş was named among the nominees to take over International Monetary Fund’s chair from Dominique Strauss-Kahn. Another Turkish top executive candidate is Mehmet Öğütçü, who has made it into the final four vying for International Energy Forum’s secretary-general tenure.
Turkish
Meanwhile Chairman of Goldman-Sachs Asset Management Jim O’Neill in a statement to Financial Times, touted Turkey as the 7. country driving the world. According to Mr. O’Neill, who coined in a new term called “growth market” to explain recent economic trends, distinctively developing markets stand out with their growth capacity, trade volume, market size, population and companies from the rest of the world. These economies grow faster and have comparably higher business capacities. Therefore South Korea, Mexico, Turkey and Indonesia come as “developing markets” following Brasil, Russia, India and China or namely the “BRIC” countries -yet another O’Neill introduced acronym… These eight economies are anticipated to lead the world towards the next decade. Referring to another and longer term Goldman Sachs forecast on Turkey, by 2050 Turkish citizens will have secured the 7th place among world’s top earning nations. Earnings per capita is forecasted to reach 90 thousand USD per annum in the UK and US while each
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Turkish citizen will earn 70 thousand USD a year, almost the same a Japanese. This is 10 thousand USD per annum better than Brazil and in the same list, China is anticipated to remain below Turkey with 55 thousand USD where Iran’s per capita is to reach 45 thousand USD. Turkey’s heavy oil According to an article penned by Turkish daily Sabah columnist Süleyman Yaşar; experts in oil business state that oil is no longer extracted as easily as it used to be from wells and it is time to bring up “heavy oil”. As long as the barrel price remains over 60 dollars, heavy oil is a viable alternative. Chevron, Exxon, Mobil, BP and other international oil majors have allegedly begun to take up analyzing heavy oil reservoirs, moreover Chevron already included Turkey in its oil exploration agenda. The Wall Street Journal published a map on 24th of May revealing global geographical spread of heavy oil reserves. According to this map, Turkey and Middle East have 971 billion barrels of heavy oil whereas world total is around 3 trillion barrels. Interestingly, extracting heavy oil in Turkey is comparably more profitable than doing it elsewhere, making the country a very attractive spot for the commodity. Since Turkey’s current account deficit is a direct result of energy related imports, heavy oil might prove to be its remedy over the long haul. Additionally, due to recent price rally, domestic wheat prices in Turkey are now slightly below import prices which may allow Turkey to become an exporter soon. An agrarian policy putting proper emphasis on such goals is of course very crucial in this respect. Yet another good news from Sabah’s Şelale Kadak, covers contract manufacturing. According to her article, some global players who had previously shifted production to Egypt are relocating once again, this time to Turkey. One such company is IKEA. The Swedish furniture giant is said to switch purchases from Egypt to Turkey. Kadak claims that this might just be the start and the move could spill over to other industries… editor@turkishmarinepost.com
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NEWS
Turkish Chamber of Shipping prescribes remedy for oversupply:
No more orders!
Turkish owners and ship builders made an unusual call to fellow owners considering fleet expansions during the 8th Annual Marine Money Istanbul Ship Finance Forum, held on 11th May 2011 at the Swissotel - The Bosphorus. Dismayed by the statistics suggesting a huge tonnage oversupply, Turkish Chamber of Shipping advised shipowners to hold off new orders. urkish Chamber of Shipping and Kaptanoğlu Holdings Board Member Şadan Kaptanoğlu, in a panel held at the 8th Annual Marine Money Istanbul Ship Finance Forum, pointed out to oversupply problem facing the shipowners and shipbuilders. “If I were to invest, I would prefer second hand purchases” she said, emphasizing that new orders could add to woes of the industry. “I am not here to tell anyone how to invest, and those who have long been looking to an opportunity for investment have every right to order as they please. However, I advise waiting a bit longer, otherwise we can all lose” she warned.
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Kalkavan grim on bulkers Turkish Chamber of Shipping Chairman Metin Kalkavan remarked that the volatility is expected to ensue in the market. “Capesize freight rates have been the same on average during 2009 and 2010, which means they have earned quite well amid crisis” he said and claimed the situation “foreshadowed the time to return the favour”, warning on a negative correction in freight rates for larger tonnages. During the closing speech of the event, Mr. Kalkavan also mentioned about Turkish banks, whose efforts to support the shipping companies
Tamer Kıran apparently did not go unnoticed. “Turkish owners did well without the government support” he said plaintively. Financiers may help by stepping “out” Mr. Kalkavan noted that both Turkish owner and shipbuilders agree on the supply-demand issue. “We [Turkish Chamber of Shipping members] are mainly shipowners but there are owners who are at the same time shipyard owners. But we all emphasize the same thing: do not order. Is it not striking and pleasantly interesting that shipbuilders say the
same thing? In order for everybody to have a future, owners and builders alike, take their stand againts excessive ordering” he said. According to Mr. Kalkavan, financial institutions should also be a part of the solution and avoid financing projects from scratch, instead opting to finance resale projects. Kıran says the crisis “has just started” Meanwhile, the same issue had also been brought up during a prior event held on 27th of April. During the discussion forum hosted by Oruç Reis Maritime Society (ODEK), Turkish Chamber of Shipping Board Member and Kıran Shipping Vice President Tamer Kıran made similar remarks. According to him, although distances and amounts of cargo transported are on the rise, indices follow the opposite trend. “I believe that to be a result of tonnage oversupply. Financial crisis and the recession is over, yet shipping crisis just started” he said. Mr. Kıran pointed out that although almost 5.7 billion tonnes cargo is forecasted to be carried within the year, an additional 120 million dwt will enter into service at the same time, followed by another 120 million dwt the next year. “World trade has started to pick up steadily, yet the bulk carrier orderbook stands at 511 million dwt, which still causes absorption concerns” he said.
Turkish Marine Post
Omsan scouts for cement carrier Turkish logistics major Omsan seems to have developed a sympathy for shipping recently as it is now on the lookout for a cement carrier following a successful entry into the industry with the acquisition of 30.000 dwt Fortune Express. The company aims to splash around 57 million USD for various projects in general and shipping is among the industries with which the group aims to reach 400 million TL turnover in 2011, suggesting a 18 percent boost to last year’s figures. “We also intend to improve day-to-day logistics capabilities and renew our car carrier trailers” he said also mentioning that Omsan will possibly pursue growth in automotives, retail, FMCG, construction and energy industries along with shipping. Mr. Küçükertan said that the shipping arm is still working on the potential purchase and did not provide further details.
Listed company sets foot on shipping Latek Lojistik A.Ş. has reportedly set eyes on a 53.000 dwt supramax at the cost of 24 million USD and is at talks with banks to arrange financing for the purchase. Latek’s Chairman Mr. Levent Erdoğan, revealed further plans stating that the company aims to size up the aggregate fleet capacity well above 150.000 dwt in five years. The group’s shipping affiliate Latmar Shipping has been in the market to spot a good candidate, Mr. Erdoğan conveyed. “We intended to purchase a handysize vessel between 22.000 dwt and 38.000 dwt initially, however based on our research the supramax tonnage proved to be a more efficient investment” he said. Mr. Erdoğan also told the press that this acquisiton is expected to influence Latek Group’s 2011 turnover target positively, which is set at 250 million USD.
GBD cements international ties Established only a year ago, Turkish Shipbrokers Association (GBD) has been accomplishing quite a lot not only by organising social activities but also making international connections. Enrolling succesfully to ECASBA and FONASBA memberships, the association has recently been authorised to carry out ICS (Institute of Chartered Shipbrokers) certification exams. Turkey will therefore serve as a hub and spare the willing candidates in the neigbouring countries the ardous task of travelling long distances to sit the exams. According to chairwoman Mrs. Pınar Kalkavan Sesel, association is currently working to accomodate training courses of the institution as well. Meanwhile the association prepares for an international event to be held during September.
NEWS
Turkish Marine Post
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Yıldırım eyes half of Maltese port ıldırım Group, having astonished the global shipping society with the CMA CGM deal, continues investment spree with new acquisitions while eyeing more. The group has recently acquired Turkish tanker operator Chemfleet and is likely to acquire 50 percent stake at Malta Free Port in a 200 million Euro deal. Mining, port operations, shipbuilding and shipowning conglomerate Yıldırım Group advances forward with domestic and international investments. As it managed to become partners with world’s third largest container operator CMA CGM by acquiring 20 percent stake at in a 500 million USD deal last year, Yıldırım Group made a similar move by acquiring controlling stake at Turkish third party ship operators, Chemfleet and its bulker affiliate Dryfleet. Chemfleet founder and managing partner Capt. Ahmet Haznedar, told in a statement to Turkish Marine Post that the acquisition came following Chemfleet’s operational success with Yıldırım’s two tankers that had been managed for a year. New corporate structure will not affect the setup of the company and its operations, Mr. Haznedar assured and said Yıldırım Holdings’ partnership would “prove a powerful combination
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that could make bigger goals easier to achieve”. Established in 2007, Chemfleet and Dryfleet currently operate 19 vessels, out of which 15 are chemical tankers. Freeport’s CMA CGM links Yıldırım’s groundbreaking investments that shake the global maritime society continues with the 200 million Euro (286 million USD) worth Malta Freeport deal. According to sources, the deal invoves purchase of 50 percent stake in the port by Yıldırım Holding AS. Yıldırım is said to finance the deal via domestic banks’ support to a large extent as Ziraat, Isbank, Vakifbank and Akbank are among the banks touted lenders for the acquisiton. The Malta Freeport has a distinctive strategic appeal for Yıldırım due its proximity to major South European ports as well as being on a central location right across North Africa. CMA CGM was awarded concessions to operate the port for 30 years in 2004 which was later extended to 65 years in 2008, sources say. 1 billion USD fleet worth by 2014 In addition to port, shipyard and merchant vessel investment domestically, Yıldırım Group has port and leasing investment abroad as
ODEK members pool for investment venture ruç Reis Shipping Society (ODEK) launced a joint stock company with the contribution of 20 of its members and formed Turgut Reis Denizcilik A.S. First goal of the outfit is to venture in shipping investments while over the long haul, company aims to act as an intermediary to attract larger project to Turkish shipyards. ODEK Chairman Murat Dalyan, last month announced the inception of society members’ joint venture: Turgut Reis Shipping A.S. The new company is aimed at facilitating new business opportunities worldwide by pursuing investment environment across the world. The first investment of the enterprise is likely to be a ship acquisition. Newly founded Turgut Reis Shipping’s chairman Mr. Yusuf Sertkaya briefed Turkish Marine Post on other goals of
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the company saying “On a broader sense, Turgut Resi is established to bring home larger projects abroad. We also aim to book large cargo contracts and benefit member shipowner companies”. In order to afford commercial growth to all of its members, after the first investment, the investment pool will be open for new contributions. Stakeholding structure of Turgut Reis Shipping currently consists of members coming from diverse backgrounds extending from shipowner companies, yacht builders, ship salvers, insurance brokers to even fisheries. It is understood that the group intends to dispose older and smaller vessels to make room for containership operations as well as bulk carriers.
well. The group has an orderbook of 12 chemical tankers worth to the tune of 200 million USD at its own shipbuilding investment, the Marmara Shipyard in addition to existing 14 vessel fleet comprised of chemical tankers and bulk carriers. According to Yıldırım Group CEO Mr. Yüksel Yıldırım, when all vessels are be
delivered by 2014, the group will boast a fleet worth around 1 billion USD. Yıldırım Group recently founded a securities company in Amsterdam in addition to a Belgian leasing company that was bought out, Mr. Yıldırım conveyed. He also revealed that the group had Göteborg Terminal on their list.
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SHIPOWNING
Turkish Marine Post
Turks like it big Newcomer Turkish ship investors, coupled with expansion efforts of their deep-rooted elders, continue to change the face of Turkish merchant fleet dramatically as the number of vessels over 30.000 dwt increase steadily. hree year prior’s golden age of shipping appears to have panned out quite well for Turkish merchant fleet. Conventional Turkish owners that had easy access to finance, scaled up their ships as well as augmenting their fleets during the industry’s booming times. Postponed orders
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orders to a tally of 20 units between 32.000 and 180.000 dwt in the last 3 years. Four supramaxes have been delivered recently with six more 32.000 dwt handysizes, two 57.000 dwt supramaxes and a capesize is scheduled for 2011. Ciner Shipping too started to take deliveries of its orders placed in
that had been placed prior to crisis by deep-rooted companies are now slowly being handed to owners concurrently with orders of newcomers that saw the crisis as an opportunity to tap into and become shipowners. Top billing crisis investor, Densa Shipping of Mr. Ömer Sabancı has been placing
December 2009 in hope of seizing the opportunity from crisis. Three out of the initial quartet of orders have been delivered to Ciner. Geden, owning one of Turkey’s largest fleets, controlling fleet expansions as well. The company’s full story is covered on this section. Kıran Shipping took delivery of their 176.000 dwt capesize during
Diler to double fleet with newbuildings stanbul based Diler Shipping & Trading eyes delivery of second Bulgarian built supramax to its fleet while a kamsarmax lined up in Korea is underway. These three new units will boost the company’s existing three vessel fleet consisting of older handymaxes. Bulyard Shipbuilding launched Turkish Diler Shipping’s second supramax, another Future-56 series design, on the 10th of May. The yard had only a month
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ago handed over the first 56.000 elder sister to the same buyers with a ceremony on the 15th of April. The Japanese licensed acclaimed design is packed with Japanese equipment as well. Diler also has a kamsarmax on order at Korea while the company’s existing fleet is composed of 3 three Japanese built handysize vessels commissioned between 1984 and 1985.
February this year, as part of their fleet expansion plans featuring larger units. With a fleet of 20 vessel ranging from 6.000 dwt to 176.000, Kıran also looks to receive another cape and two 80.000 dwt Kamsarmaxes. Fleet edges over 20 million dwt Turkish owners have similarly been
very active in second hand markets as well as adding larger newbuilt vessels into the national fleet. First quarter of 2011 has very likely seen the fleet size up over 20 million dwt whereas only a quarter ago it was estimated at 19 million dwt. Exisiting Turkish order book suggests that the growth shall keep the pace.
Eregli admits first caper, fixes with Swiss Marine regli Shipping Company, the joint enterprise formed by various Turkish shipowners, was delivered the bulk carrier 'Cape Istanbul' from Korean Hanjin Shipyard in Philippines. Established in 2004 with 50 million USD start-up capital provided by many Turkish shipowner participants and a purpose to form a domestic outfit to carry Erdemir’s and Isdemir’s hefty ore and coking coal imports, Eregli Shipping had lined up a pair of 175.000 dwt capesize vessels in 2007 at Hanjin Shipyard at a
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cost of 80,55 million USD a piece. First of the duo, the ‘Cape Istanbul’ was last month handed over to the joint stock company’s high ranking officials led by Deputy President Mr. Levent Karacelik with an official ceremony. It is understood that the delivery of both units had in fact been scheduled for a year earlier, however were postponed due to crisis. Cape Istanbul, which Hanjin commenced building early 2009, had already been booked on time charter with Swiss Marine for 6 months and was turned to charterers upon delivery.
SHIPOWNING
Turkish Marine Post
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Geden fleet exceeds 3 Mdwt Largest Turkish shipowner Geden Lines, sized up its fleet to 36 units and 3,3 million dwt in capacity with the recently admitted Suezmax tankers. been locked into a year long charter deal with Global Pool at USD 15.000 a day which can optionally be extended at USD 16.000 a day for another year. Geden currently runs 6 suezmaxes, 6 aframaxes, 7 handysize crude carriers with ice class and five handymax chemical carries. The company also owns 12 bulk carriers; 4 of them being capesizes and remanining 8 are supramaxes. All Maltese registered 36 vessel fleet’s average age is 2.5 years with a total size of 3,81 million dwt.
Geden has been taking delivery of hefty orders linedup at Far Eastern yards in 2011 too as this year two 156.000 dwt suezmax tankers in addition to 73.000 dwt long range (LR1) tanker has been delivered from Korean SPP Shipyard. The vessel, named “Enjoy” is the first of four sisters to be delivered within the year. According to the article published on Tradewinds, the vessel has
Sock maker adds orders ahead of deliveries Although it seems to have narrowly missed the window for a well timed foray into shipping investments, Beks shipping continues undeterred on the course of building up a fleet and lines up new orders. The company started investing during the first months of 2008 by booking three 58.000 dwt bulk carriers at Korean STX Offshore, to be delivered second half 2011. According to sources, Beks moves on at full swing
with shipping investments as it reportedly contracted another Korean yard, SPP for a one kamsarmax with an option to build one more. Each unit is
Ciner continues spree
Aruna orders more supramax n apparel manufacturer in Turkey has placed a bulker order in South Korea through a new shipping subsidary. According to Tradewinds; New Turkish shipping entrant Aruna Shipping is building up a bulker fleet with newbuildings. The İstanbul based company has booked three supramax bulker nevbuildings at South Korea’s Hyundai Mipo Dockysrd (HMD). Aruna deputy generela Manager Cengiz Bekmezci confirms the orders, which are due for delivery in August and November 2012 and March 2013. Bekmezci Says the price is lower at between $30m and $31m each, including extras. Aruna’s website states that the company also has a joint Project for 58,000 dwt bulkers at STX OFFshore & Shipbuilding. It doe not specify the number of ships. Bekmezci reveals that Aruna, which was established only last year, was set up by his brother, Cihan, to diversify into shipping. İsmail Bekmezci and his brother are behind Beks Shipmanagent&Trading, which also popped up on the radar with newbuildings. Bekmezci confirms the 58,000 dwt bulker Project at STX referred to on Aruna’s website involves Beks and syas in future the ships could come under Aruna’s managent.
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iner’s shipping venture has begun admitting first Far Eastern orders into its startup fleet while new bookings follow on. Having welcomed the first three of the four 35.200 dwt handysizes lined up in Samho Shipyad by the end of 2009, Ciner looks to receive the last sister during the last quarter 2011. However according a Tradewinds article, Ciner did not cut pace with orders as the company reportedly contracted another Korean builder, SPP, for a new quartet of handysizes at 26.5 million USD a piece. First of the new orders is due for January 2013 delivery while the last is
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expected during August same year. Ciner furthermore has four 82.000 dwt kamsarmaxes on order at Hyundai Mipo Shipyard, first pair of which is aimed for second half delivery this year while the latter two will be handed over in 2012. All vessels will reportedly be undertaken via time charter by German RWE group upon delivery. Company’s first pair of handy’s were also time chartered, by Pacific Basin. Tankers also appear to be on Ciner’s radar as it is understood to be waiting for the right time to add to the tanker orderbook in addition to two suezmaxes already on order at Chinese Bahoi shipyard.
said to cost 37 million USD. In the mean time, the company blended the original overpriced trio with another three supramaxes, after the prices came off. Operation Manager Mr. Fırat Suygen informed that the first ship will be delivered on October followed by her sister on November. 2012 will see the last supramax and first kamsarmax while the latter trio will be delivered until 2014, Mr. Suygen confirmed.
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NEWS
Why it has been difficult to acquire a Turkish flag vessel It has been observed in the past 10 years that the Turkish owners have preferred to hoist foreign flag to their new or second hand vessels. Most of the time, the reasoning have been the costs of management, to lower the crew wages, the conditions of the Turkish tax legislations, the social security premiums and for other reasons, the owners have left the national flag. The subjective, strict Mrs. Sema Yerlikaya applications of the foreign port Yerlikaya Law Office authorities have also made Turkish flag hard. This problem has been solved by the successful intensive efforts of the Istanbul Chamber of Shipping. On the other hand, the foreign easy flag has been in the daily publicity by the demands nearly the pressures of the strong charterers of the international market. It is observed that Maltese flag is stil the most conveniently preferred one. In 2010, a campaign has been commenced against Turkish flag from all aspects. In the past 6 months, the European financing banks who specialise in shipping and other creditor financing institutions, declared that they will not finance Turkish shipowner. They were not only satisfied with this declaration but they also started to re-evaluate the conditions of the current loans. The freights and asset/ship value markets were already under fluctuating conditions, and the Banks had to analyze the loan to asset ratios and the earnings position. In addition they stated to hold a security risk with a Turkish Flag vessel and therefore, they started seeking for further securities. One of the conditions of a restructing scheme, had to be the re-flagging of the Turkish ship, or in the new finance demands of the Turkish shipowner, the condition of the bank has been, non-Turkish flag. The reason underlying the concern of the European Banks, was reflected as the pending compensation case of a Turkish shipowner against the leading German Bank, in front of Turkish Courts and the substantial amount of damages claim raised by the Turkish shipowner, against the Mortgagee bank who has enforced the Turkish Mortgage over 4 vessels, in 2003. The hesitancy and the concern of the banks, this case has created, was based (very briefly) on the arguement that a Mortgagee Bank must only foreclose in courts of Turkey. If a mortgagee Bank shall not enforce a Turkish Mortgage outside of Turkey, they would be left with no alternative but to watch and wait until the vessel comes to Turkish waters. However it is said that there are other theories, political reasons that provoke the presence of the concern in behind. Since, Turkish judicial system is not a case law system (Stare decisis) and there is not yet a final, absolute judgment against the foreign Bank, in the referred case. On the other hand, the New Code of Commerce brings an end to the legal arguments and will be in force in 2012 and the legal problem will be cleared. Our explanations should never be interpreted as we are against foreign flag. Each shipowner corporation should have the liberty to choose the right flag for the company. There is a disinformation of concepts in the public. Noone shall state that there is a pressure. My advice is not in this sense. Today there is legal concern, maybe there is political reasons supporting other flags but I think, everyone should show the efforts to get sound advices about the legal system carefully. I have personally worked a lot to convince the world wide financiers in terms of legal security to support the Turkish Flag since 1990.
Turkish Marine Post
HSH vents spleen on Turkish Flag
orld’s leading ship financier and one of the top billing banks to have extended credits to Turkish owners, HSH Nordbank, is accused of tacitly taking Turkish flag onto its list of jurisdictions to be avoided, following the loss of Karahasan lawsuit. The bank allegedly holds foreign flag a condition precedent and asks the clients, whether new or existing to consider open registries.
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German HSH Norbank is known to be the most prominent creditor of Turkish shipowning companies. Bank had hit the news headlines over a formerly disputed credit facility with a Turkish client and involvement of bribery to benefit HSH in course of lawsuit. The seven year old legal feud had set off after HSH had arrested and auctioned five of Karahasan’s vessels over claims that it had not been properly repaid. Although HSH has foreclosed the vessels via auctions held outside Turkey, Karahasan has long been lodging appeals to higher levels of judicial hierarchy and seek compensation for the practice, which it claimed “unjustly harmed the company”. During October 2010, HSH Nordbank has officially lost the case to Karahasan and was sentenced to pay 75 million Euro’s in compensation. The case
is taken to the Council of State where the final verdict is to be given. Yerlikaya Law Office’s Sema Yerlikaya confirms the claims saying that “a campaign was silently started against Turkish flag in 2010”. Ms. Yerlikaya asserts that in the last 6 months, various ship financiers, led by mainstream German banks announced that Turkish flagged vessels would not be granted loans. “Credit agreements have also been brought up again and due to falling asset values and plummetting freight rates banks have been seeking for additional collateral. However, these restructuring requests also came with additional covenants such as relinquishing Turkish flag” she said. Yirmibeşoğlu confirms Medfin Director İlhan Yirmibeşoğlu also thinks the rumors of such attitude might be true. “Nordbank took that path following Karahasan defeat at the court. They try to send the -increased-riskhigher-price- message to their clients flying Turkish flag. But I do not believe such approaches would yield much since Turkish flags is mostly considered legally safe and sound” he said. Mr. Yirmibeşoğlu also emphasized that flying Turkish flag is not a major issue under current global market circumstances.
Over 1,600 tankers of oil shipped from Ceyhan port Total of 1,619 oil tankers have been shipped from Ceyhan since the first oil was shipped through BTC.Botas International Limited (BIL), the operator of the Turkish section of the Baku-Tbilisi-Ceyhan pipeline (BTC), has announced statistics of oil shipment from the oil terminal at Ceyhan. A total of 1,619 oil tankers have been shipped from Ceyhan since the first oil was shipped through BTC, according to Botas website. As much as 1,258 barrels of oil have been transported via BTC since the launch of
the pipeline. BTC ships oil from AzeriChirag-Guneshli block of oil fields and condensate from Shah Daniz gas field in Azerbaijani sector of the Caspian Sea. It began to transport Turkmen gas as well after a new agreement was signed in July 2010. BTC has a capacity of 1.2m barrels a day. BTC shareholders are BP (30.1%), AzBTC (25%), Chevron (8.9%), Statoil (8.71%), TPAO (6.3%), ENI (5%), Total (5%), Itochu (3.4%), INPEX (2.5%), ConocoPhillips (2.5%) and Hess (2.36%).
INTERVIEW
Turkish Marine Post
Transal calls time on newbuildings pursues new goals ltınbaş Group moves on steadily with large chemical tanker investments while boldly stepping up efforts for further exposure to shipping. In addition to the recently concluded newbuilding series, the Group looks to set up a large scale ship management structure as well as shipping R&D and training units. Altınbaş Group’s shipowning subsidiary Galata Shipping launched the 26.000 dwt chemical tanker, the “Diamond-T” during February, with delivery scheduled for June. This is the last chemical tanker in the series of five lined up with various domestic yards in 2008. The previous four have been deployed for worldwide trade under the group’s management subsidiary Transal Shipping. The group will apparenty take its time for a while before rolling out further ship investments, but not necessarily in other shipping related fields. Transal’s General Manager Capt. Uygar Pamuk in a special interview with Turkish Marine Post unveiled where Altınbaş and its shipping subsidiaries are headed. Capt. Pamuk mentioned that the first step will be second hand acquisitons to suit the needs of Alpet, the oil subsidiary of Atlınbaş. “We want to improve our ship management operations which will give us a competitive edge for international tenders” he said. According to Capt. Pamuk, the group started tanker busines with smaller and older tankers between 3.200 and 10.000 dwt with an age profile of 20 years, which have been gradually offloaded since 2008. Sales proceeds were used to book 7 larger chemical tanker orders ranging from 11.200 dwt to 26.000 dwt in 2008 at various domestic yards. “We rejigged our orders, cancelling two of
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the seven into a more feasible structure. Our fleet will reach 5 modern tankers with the recent addition but as we decided to scale up ship management, Transal admitted another Turkish owner Bilnam’s tankers Ozay-4, Ozay-5 and Ozay5, making the number of controlled vessels 10 for the time being” he explained. Top five aimed for 2012 Transal aims to become one of the top five players in the league of Turkish tanker owners, Capt. Uygar Pamuk expressed. Transal desires to build up brand awareness slowly and has already been marked as one of the reliable players operating across the Continent, Mediterranean waters and even in the Persian Gulf and some parts of Indian Ocean. “We managed to get three yearly contracts, which is a big step forward for international operations. This also calls for oilmajor approvals like BP and Shell, a challange we have so far been succesful” Capt. Pamuk said. Quality at its “hardest” The group has an interesting yet evidently effective quality approach. “We pick the strictest institution possible to audit ourselves” Capt. Pamuk said, which in this case seems to be have proved a business boon for DNV, who will grant ISO 9001 and 14001 certifications to the company. Capt. Pamuk commented that strictness would only “push them higher”.
Internship programme grows into academy Transal this year launched a training program, in an attempt to raise the quality crew, which the industry has always been short of. The program, named “Seastar”, involves admission of candidates for internship via passing an examination overseen by Transal itself. Succesful interns are allowed to complete their internships following a program outlined yet again by Transal. The program kicked off with 12 such students handpicked from selected universities. Although Transal seems to invest so much effort in the interns, it does not impose any commitments on them that will benefit the company. “The program garnered praise from many other industry players who volunteered for contibution and asked for a joint expansion to include more pupils” Capt. Pamuk said pointing out to future possibilities. He also conveyed that the program will soon become a full-fledged academy and cover employee trainings as well. On the other hand Transal also prepares for creating a research and development setup. According to Capt. Uygar Pamuk, the new unit will focus on market research and be responsible for pursuing maritime innovations as well as compiling sophisticated sofware for shipping companies.
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INTERVIEW
Turkish Marine Post
Eregli to hand over Essberger pair Exports set record amid woes Although Eregli Shipyard has seen its volume dwindle throughout 2008, 2009 and 2010, it has managed to top the ship export rankings during 2009 with 140 million USD worth of ships delivered abroad. That simply spells an improvement in just the midst of deepening crisis, as the shipyard was the runner up during the preceeding year. According to figures provided, 2010 exports stood predictably lower at 80 million USD however Mr. Şen even foresees a mild increase for 2011, most likely owing to the remaining orderbook.
offers as Mr. Şen emphasizes that they need to be sure about credibility and payment discipline of the potential customer.
espite frustrating dullness affecting majority of Turkish shipyards, some others do not see activity slacken off. Eregli Shipyard, located alongside Black Sea some 300 kilometers east of Istanbul, prepares to deliver three chemical tankers out of the four currently under construction. A pair of them will reportedly be turned over to German Essberger group. The yard is also set to roll out two tugs. Among Turkey’s largest shipbuilding facilities is Eregli Shipyard, located at the namesake town of Eregli that is situated along the eastern Black Sea coast. The Med Marine Holdings affiliate is set to hand over four chemical tankers varying
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from 5.300 to 25.000 dwt in size. The 5.300 dwt pair with duplex stainless steel tanks belongs to Essberger, Med Marine Chairman Mr. Hakan Şen conveys, and adds that these are the final pair of the original four ordered. Mr. Şen further informs that the shipyard works to meet the deadlines for two more tankers -one 8.400 dwt and the other being 25.000 dwt- as well as two tugs with 40 and 65 tonne bollard pull capacities respectively. One of the tugs are built for sale while the other is intended for the group’s towage subsidiary, Mr. Şen says. Repair and maintenance “not yet on agenda” After all the orders currently
Government accused of “unsupportiveness” As lackluster demand stymies Turkish yards’ performance, most of the builders, including Med Marine Holdings Chairman Hakan Şen, attribute the suffering to the subsidies provided to Far Eeastern or even EU shipyards by their governments. Mr. Şen points out to “substantial subsidies” granted to leading shipbuilders such as Chinese, Korean, Japan and Vietnamese shipyards and says “ If Turkey were ever to sustain its position among those top players, it should have taken the same steps”. He claims that supported shipbuilding industries have grown stronger during crisis, mentioning about how some countries “forked out loans through government supported export credit banks or state banks for buyers”. Citing Far Eastern yards’ major advantages against Turkey as labor costs, energy cost and finance, Mr. Şen complains that the subsidies only make it worse. “Chinese subsidies now exceed 65 percent, according to some rumors. India too is said to support shipyards with 30 percent cash incentives” he says, also claiming that in similar benefits apply wihin the EU. According to him, “Spain grants incentives in the form of 28 percent tax offsets while Italy provides 25 percent in cash to shipyards”.
keeping the yard busy are succesfully delivered, it seems Eregli’s plans are to go on with trustworthy newbuilding contracts as Mr. Şen says they “currently do not consider undertaking any repair or maintenance jobs” for the time being. On the other hand company seems to be more inclined to sustain prudence with newbuilding
Local banks prop up support Eregli Shipyard seems content on the financial side, especially when it comes to domestic banks’ unprecedented support to ailing yards and crisis struck projects. “Since August 2008, we have been enjoying the same level of assistance from local banks” he says also commending Garanti Bank for their cooperation.
Size matters… Eregli Shipyard is among the largest in the country with some 170.000 square meters total land coverage including 30.000 square meters of enclosed workshops. Shipyard also boasts four slipways coming in different slopes and sizes. One of them is the largest slipway in Turkey and is capable of accommodating handymax or panamax scale vessels, with being 220 meters in lenght and 38 meters in width. Eregli shipyard facilities can process 32.000 tonnes of steel a year.
SHIPBUILDING
Turkish Marine Post
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Indonesia orders MILGEM duo Turkish national naval ship project has received the first export orders on the 5th of April from Indonesian Navy. Turkey agreed to build two vessels for Indonesia in a 2 billion USD deal. urkish-Indonesian political relations, which date as far back as the 16th century, are set for new expansions. On his second day of formal visit, Turkish President Abdullah Gül met Indonesian President Susilo Bambang Yudhoyono. The two leaders also attended the TurkishIndonesian Commerce and Investment Forum, organized by Confederation of Businessmen and Industrialists of Turkey (TUSCON), Turkish Exporters Assembly (TIM) and Independent Industrialists and Businessmen's Association (MUSIAD). The forum served as a platform for 150 Turkish businessmen accompanying Mr. Gul in Indonesia to meet 600 Indonesian counterparts. In comment to the official visit, Mr. Yudhonoyo said a new era will start in bilateral relations. “We agreed
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to make and extensive strategic cooperation in order to cement ties with Turkey” he said. Mr. Yudhonoyo aslo emphasized that Indonesia has begun preparation of a 15 year master plan which envisages about 300 billion dollars of investment and invited Turkish businessmen to “take their share”. President Gul, pointed out to the current modest commercial relations and called both sides to invest reciprocally. Both leaders agreed that current trade volume that stands at 1,7 billion USD should be improved to almost 5 billion USD at the first stage, later to be further developed to 10 billion USD level. 2 billion USD deal The visit also earned Turkey an important deal in defense industries
Dearsan and RMK tipped for MILGEM sextet nly two of the 70 shipyards in Turkey have qualified eligible for the MILGEM project. In addition to the duo currently under construction in Pendik Naval Shipyard, tender for the next batch composed of six more sisters, have been awarded to Dearsan Shipyard and Koç Holdings’ RMK. Turkish Navy’s new shipbuilding projects that are currently under responsibility of Istanbul Shipyard Command, are a step closer to be switched to private yards. However only two of the 70 private yards, numerous of which had previously been awarded patrol boats and coastal safety ships, have been called to submit proposals for the tender. Turkish Navy resolved to build eight vessels within the MILGEM framework, 2 of which have been rolled out from Istanbul Shipyard Command in Pendik. The precursor of the series, “Heybeliada” made its debut at the IDEF, international defense industries exhibition, while the second has yet to be completed. Private shipyards Dearsan and RMK are now asked to complete the series into 8. Project requirements to be demanded from the yards have not been assessed yet, according to sources and whether one of the final two yards will be eliminated at the final stage is still unclear. Further details, except for the final decision
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to admin only the two yards, will reportedly be clarified prior to tender invitation. Although the MILGEM is always defined as a “Corvette” building project, in terms of size the vessels fall into the “Frigate” class. Vessel have the stealth capability which allow them to deceive the enemy radars by appearing smaller in size. They can also carry helicopters onboard and are built with similar specifications.
Heybeliada Main Characteristics
Lenght: 99,00 m
Max. Breadth: 14,4 m
Displacement: 2000+ ton
Propulsion: 2 Diesel + 1 Gas
Turbine (CoDAG) 30.000 kWs
Range at Economic Speed: 3.500 Sea Miles Max. Speed: 29+ kts
Weapon systems: 76 mm Fore Cannon, 2 Pcs 12,7 mm STAMP, 8 pcs Harpoon anti-ship missiles, 2 x 324 mm Mk32 Twin Torpedo Launchers, PDMS (RAM) 21 round launcher
Helicopter: Up to 10 tonnes
field. According to the protocol signed between two countries, Turkey is commissioned to build two naval vessels within the scope of MILGEM project. Acoording to sources, the 2 billion USD deal will also involve
modernisation of Indonesian fleet. In addition to this protocol, the two countries also signed a number of other diplomatic agreements including visa exemption for special and service passports.
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SHIPBUILDING
Turkish Marine Post
Foreigners’ foray in to Turkish In the aftermath of the devastating crisis which resulted in massive order cancellations, Turkish shipyards were only able to attract a handful of orders. The situation now urges them to cooperate with foreign investors. As Turkey sustains it appeal for European companies, scope of projects range from setting up new shipyards to establishing propeller workshops. arlyle Group was the first to invest in Turkish shipbuilding during the crisis. The group acquired 50% Stake in TVK Shipyard which also marked its very first investment in Turkey. Established by entrepreneurs Can Topsakal, Naim Kocer and former production manager of Sedef Shipyard in Tuzla, Turgut Atagun, TVK was incorporated in 2005 in the Kocaeli Free Trade Zone. At the time Carlyle had acquired the shares, the founders had already splashed out over 40 million USD to the facilities.
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Imtech steps in via Elkon buyout Dutch marine equipment producer Imtech established itself in the Turkish market by acquiring Elkon, renowned electricity sub-contractor for vessels. Elkon’s annual revenue exceeds 15 million Euros and has over 200 employees. Imtech CEO René van der Bruggen, said in a comment that Elkon acquisiton would provide a local service and export outpost for Imtech. “Turkish shipbuilding industry continues to grow with more complicated vessels each day. This also drives a serious demand for developing technologies, which can be provided for the industry by Imtech via Elkon in Turkey. We believe by adding Elkon into out pottfolio, we have seized an important opportunity to get a foothold in the country and in the
Loça tipped for more workboats
region” he said. Elkon has a 30 year background in the industry while the company recently put more emphasis on advanced technology and took up more sophisticated ship designs, it appears. Imtech and Elkon have been involved jointly in sophisticated projects such as naval vessels, mega yachts and offshore platforms in the recent years. The good relations apparently quickly developed into a merger. Imtech will provide expertise and technological know-how while Elkon will continue to supply electrical systems, ship automation, electric propulsion systems and provide related services to the industry. It appears Elkon will also reap benefits from Imtech’s solid financial situation and up export efforts while, in return, Imtec will outsource production to Elkon. IHC and GESAD to join forces for Yalova Another Dutch company to make a joint investment with a domestic partner is IHC. As Turkish Association of Ship Industrialists (GESAD) is set to establish the Yalova Organized Industrial Zone for Marine Industries, it inked a partnership Letter of Intent (LoI) with IHC involving the set up of an andvanced preprocessing plant. Signed before Dutch Minister for Foreign Trade, Mr. Frank Heemskerk
the LoI also marks the start of joint feasiblity studies concerning a preprocessing plant for steel and aluminum parts needed in Shipbuilding, Offshore and Construction Industry. According to both sides’ representatives, the jointventure of IHC Metalix and GESAD is intended to combine the high-tech background of IHC Metalix with the dynamism of Turkish marine equipment manufacturers. German DIC eyes repair yard Tuzla based dredging and port construction company Dalsan’s new shipyard project just outside the Tuzla Region attracted both German and Swedish investments. German DIC Group recently established the Bosphorus Shipyard and plans to set it up as a repair yard upon 120.000 square meters with 350 meter long shore line. The yard is planned to admit vessels of panamax size and over, specifically for repairs and serve with two drydocks. The undisclosed Swedish investor, on the other hand targets a mega yacht shipyard. DIC Group facilities will reportely be ready before 2012 while the Swedish project is said to take shade longer. Gürdesan’s English partner Another marine equipment related deal involves Gürdesan, a deck
Loça Engineering last month revealed that it has commenced procurement procedures for the seven workboats ordered by Swiss buyer and commissioned M.A.N. for the engines. Loça might secure further orders and perk up the tally to twenty boats, if the buyer is satisfied with the performance. Loça, originally a steel works subcontrator building ship blocks and hatch covers has also proven worthy of praise involving small craft production and was awarded a 9 million USD contract covering seven workboats to be purchased by a Swiss buyer. The boats will be employed in Kongo based on to latest information provided. According to Mr. Hidayet Çetin, who delivered a short speech during M.A.N. engines’ delivery ceremony, sad the engines will add to the traditional quality of Turkish craftsmanship that is “the main reason for international buyers to select Turkish products”
SHIPBUILDING
Turkish Marine Post
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Shipbuilding machinery company which is also known to take part in Turkish Naval projects. Gürdesan Chairman Mr. Mustafa Gürsay had revelaed to Turkish Marine Post during December that propulsion will become a serious new field for Gürdesan. “We are looking to start propulsion systems production jointly with a UK based partner. Both fixed pitch and controllable pitch propellers of up to 6 meter in diameter are going to be produced. Although our partner focusses on export oriented production, we hope to be able to meet some domestic demand as well as producing for naval projects” Mr. Gürsoy had said. South Koreans dragged to competition Far Eastern manufacturers too follow the western makers into the Turkish Marine equipment industry . Loça Engineering is tipped for creating a local service branch in cooperation with a South Korean marine air conditioning company. According to Loça’s Managing Partner Mr. Hidayet Çetin, “Far East has recently started rising and is set to become a hub for such production”. Loça expects that the Korean partner, who is also a maker of such equipment, can lend valuable know-how. Mr. Çetin indicated that Far Eastern components could be very expensive to service and maintain for vessels operation locally due to long distances and their branch could help reduce costs up to onethirds.
Gesad’s goal multi-billion export Yalova Organized Industrial Zone for Marine Industries was officially registered with the Turkish Industry and Trade Ministry on 4 February 2011. The new zone project, which was developed and pursued by the Turkish Association of Ship Industrialists (GESAD) since 2008, thus finally made it on formal grounds. When complete the zone will be the private zone for marine equipment industry, which reportedly account for as much as 70 percent of
domestic shipbuilding turnover. GESAD Chairman Ziya Gökalp, in a press statement commented that the registry was an important step that would pave the way for the industry’s 10 billion USD exports goal set for 2023. According to Mr. Gökalp, GESAD is soon to ink a grant deal with European Council for the Euro-VIP Project, proposed jointly with Undersecretariat for Defense Industries, East Marmara Development Agency and EMEC.
One zone to embrace all Originally comprised of 87 facilities, the zone will cover approximately 130 hectares. The subdivisions are divided in 3 sections of 14 to 15 thousand square meters, 7 to 10 thousand meters and 5 thousand square meters respectively. Larger parcels are reserved for marine equipment makers and yacht makers while medium sized ones are intended to be allocated for other producers or as expansions of larger enterprises on demand. Smaller parcels are thought of as workshops and will be assigned to small-medium sized makers or electric and electronics. Total net building area will cover about 70 hectares in addition to 2,3 hectares of common areas and 7,3 hectares of R&D facilities. Remaining areas will be reserved for health, security, greenery zones, water treatman facilities and parking lots.
Nora and Aydın ink coop deal
Dromon launches Turkey office Dromon Bureau of Shipping (DBS) together with International Maritime Bureau (IMB) under whose roof it had previously been represented in Turkey, jointly announced started DBS Turkey thereby creating a single authorized entity. According to officials of the new setup, the institution will be able serve ships without time limitations and at lower costs as from the beginning which marks DBS Turkey’s launching. DBS has recently added Kiribati among the flag states that recognize the institution as a classification society. DBS has thus attracted more owners’ attention, having achieved the status of being a “white” flag state recognized society.
German rubber floor coverings maker Nora signed distributorship agreement with dometic rubber reseller Aydın Rubber on the first day of Europort Istanbul Exhibition held between 23 and 26 of March. The agreement that made Aydın Rubber sole provider of Nora products was signed between German company’s Export Area Manager Mr. Alexander Oelsner and Aydın Rubber’s owner Mr. Mehmet Alpaslan Aydın. Nora products are suitable for both civil and military purposes and are suitable for harsh marine conditions as well as being fireproof, conveyed Mr. Aydın. Furthemore Mr. Oelsner told Turkish Marine Post, in comment to the
cooperation, that many European equipment manufacturers-with German and Dutch companies topping the listhave been enjoying the free, high quality and proximate market in Turkey since the past couple of years. According to him Turkey’s economical boom will evidently continue, based on individual researches Nora has since relied.
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NEWS
Turkish Marine Post
Coal importer Safi to bolster fleet Safi Group of Companies, originally a coal trader, has launched first out of half a dozen Tuzla newbuildings from Selay Shipyard during May. Group plans to splash out 150 million aiming a 150.000 dwt fleet in 5 years. afi Group is among the recent new entrants into the shipping business, despite coal import as its mainstay business. The group had already acquired two second hand vessels prior to commissioning Selay for a quartet of 10.500 dwt mini-bulkers. First of the four, the “Arif Amca” was lauched in May with a ceremony attended by Mr. Egemen Bağış, State Minister and Chief Negotiator for EU. Mr. Bağı also welded first steel for the keel of the following vessel in the series. Mr. Bağış, in his speech marking the event, expressed the remarkable progress made by Turkish shipbuilding. “Turkish shipping and Turkish shipbuiliding are at the centre of success stories we have come to hear frequently. We are simply obliged to stand next to them” he said. Safi Group’s shipping affiliate Safi Shipping Trading Corporation was established around end 2009 at Istanbul. Company has since acquired two second hand vessels -of 8.000 and 12.000 dwt respectively- and currenty runs them under Liberian flag. The latest addition, Arif Amca will be the third vessel of in the fleet while Safi has five more orders lined up in Tuzla,
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including a pair of 32.000 dwt handysize vessels. Safi Shipping Vice President Atakan Sinan Safi, in his speech delivered to the guests and dignitaries of Turkish shipping society invited for the launching ceremony, said that the group had 45 years of business background but had only less than 3 years into the shipping industry. “We analysed shipping beginning from 2005 till end 2009 when we founded our shipping affiliate. Since then we believe to have made significant progress by acquiring two vessels and booking orders at Turkish yards” he said. Ships financed “out of pocket” Mr. Safi also told in his speech that the two newbuildings at Selay have been financed solely on group equity. “This is the first 40 million dollar worth phase of our 80 million dollar investment plan. In the coming 5 years we intend to consolidate a fleet of 150.000 dwt in size and 150 million dollars in value” he said.Mr. Safi admitted that the vessels could have cost much less if ordered from Far Eastern yards, however explained the motive behind opting for Turkish yards as “providing employment to over 3.000 people in Tuzla”
Besiktas launches four tankers for Palmali Group
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elta Marine designed 16.500 dwt m/v Peace was launched by Tuzla based Gisan Shipyard last month. The innovative design, ordered by Bulgarian Paphs, incorporates cost cutting measures such as reduced steel weight and smaller engines. According to Gisan Board Member Mr. İsmail Oyar, Bulgarian buyers had initially opted for a Chinese vessel however seeing the small price difference, they were persuaded into booking the order in Turkey. “We completed the ship in 8 brief months and wish to lay her sister soon”, he said. Gisan has attracted many new offers from various owners as the new design is
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alova-based Besiktas Shipyard launched the third tanker of Armada series ordered by Palmali
Group. Vice President of Palmali Group Rauf Aliyev said the tanker was named Lerik. Earlier, the Group had increased from 10 to 15 vessels its Armada series newbuilds order (Project RST22M). The ships are scheduled for delivery at the end of 2013. As of now, 2 vessels of the series have been put into service, the shipping company said. The tanker series is a continuation of the Project 005RST01, known as the “Armada” of the first series, previously designed by Marine Engineering Bureau for Palmali Group and built at the shipyards of Selah and ADA in Tuzla in 2002 -2006. This an updated version of the 2nd series tankers (Project RST22), which were built at Nizhny Novgorod-based Krasnoye Sormovo in 2008-2009. Ten tankers of the first Armada
Gisan’s new bulker makes splash
and five tankers of the New Armada are operated in the mixed “river-sea” transportation of crude oil, fuel oil, diesel fuel and other petroleum products and vegetable oils, as well as sea borne shipping in the Caspian, Black, Mediterranean, Baltic and North Seas, including sailings around Europe and in the Irish Sea in winter. The new series tankers satisfy the Volga-Don Canal and the Volga-Baltic dimensions. RST22M project vessel specifications-139.95 m, breadth-16.6 m, depth-6,0 m; built to ‘Volga-Don max’ class.
Palmali Group is a shipping company operating in the Mediterranean, Caspian and Black Seas. Last year, shipments of oil cargo on Russia’s inland waterways by the Group’s fleet exceeded 4,5m tons. Palmali Group is a major carrier of oil companies SOCAR (Azerbaijan) and LUKOIL (Russia) on the southern lines. The Group has been awarded long-term contracts for transportation of petroleum products with TNK-BP. The shipyard also launched the fourth tanker of Armada series end of the August.
comparably cheaper to build, faster and more fuel efficient compared to its precedents. “There is growing foreign interest for sisters of this design while tanker version of the same is also in high demand from Spain and Italy” Mr. Oyar conveyed. Gisan also has a firm 7.000 dwt general cargo order which will be commenced mid-summer.
Turkish Marine Post
YOUTHFUL INSIGHT
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Denizsan breaks ground with GRP Equipment manufacturer Denizsan prepares to introduce glass reinforced plastic product line, after tackling a series of challanges to bring out one of the firsts in the industry. Denizsan eyes foreign expansion Denizsan looks set to step up export efforts too as Mr. Akgül informed they are revving up direct sale talks with potential foreign dsitrubutors mainly located in Germany, UK, Brasil, Russia, Ukraine, Romania and Bulgaria. Turkish equipment exports were quite limited and mostly appeared in the form indirect sales to ships to be exported, Mr. Akgül informs, however nowadays they are “more open to offers involving foreign sales offices”
Akgül says, COMPOMARINE will be one of the few brands in the world to collect all onboard GRP products under the same name.
enizsan Group of Companies proudly launched their new series, Compomarine, which is for the time being comprised of an accomoditon ladder and a gangway, made of a totally unusual material, glass reinforced plastic (GRP). As the company has started to collect initial orders for their one-of-a-kind product, another recently launched GRP equipment, weathertight doors is already in line for delivery. The Compomarine brand is understood to include more products under the same umbrella as Denizsan prepares for IACS sertification and type approval for GRP grids and GRP / GRE (glass reinforced epoxy) pipes.
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Light and corrosion-free According to Vice Chairman Mustafa Akgül, approvals for grids are to be obtained during June while pipes will be certified next Autumn. Following those, fire hose cabinets and life-vests will be next products placed on IACS approval queue, Mr. Akgül informed. Denizsan first realized the advantages of GRP and the absence of a producer Turkish market during the crisis. “In the course of our R&D studies we realized
GRP is one thirds lighter than steel, corrosion free, fire resistant and absolutely very flexible for manufacture” Mr. Akgül said, adding that almost 90 percent of newbuilt tankers have been fitted with GRP grids in the last 5 or 6 years and at an increasing rate every year. “GRP benefits owners in two aspects. Firstly, the less the equipment onboard weighs, the more cargo is laden and thus simply more income a ship can yield. Also maintenance free characteristics add to cost efficiency” he explained. New windlasses await autumn showcase Denizsan is Turkey’s oldest deck machinery manufacturer, Akgül claims, and is the only maker of low pressure hydraulich deck machines. “These are expensive products that rely on older technology, however being a shipowner at the same time, our experience tells ut that these equipment put up a better priceperformance ratio and are less costly to operate” he said. Although low pressure products are currently leaving the market to high pressure successors, Denizsan is determined to improve their cost structure and
continue producing them. Mr. Akgül also stated that, new generation of windlasses are currently under development and are planned for September launching.
Manufacturer becomes shipowner It was more or less a common practise in Turkish marine equipment industry prior to crisis. Booming shipbuilding industry allowed builders and manufacturers to post record profits and reinvest the revenue yet again into shipping and most of the time, ships themselves. Denizsan seems to have also succeeded in the same stragey combining it with the old family tradition dating back to times of small merchant galleys. The company currently runs a sizable coaster fleet consisting of four 3.400 to 6.500 dwt fleet, age profile of which stands around 2.5 years.
A family with shipping tradition Mustafa Akgül is a scion of a family that has established itself well in shipping since 1947. They hail from the city of Kastomonu and district of Inebolu, a northern Anatolia situated shipping town most famous for the number of shipping families originated. Mr. Akgül’s family has a long history in shipping spanning marine equipment manufacturing, galley and later on ship operations. As for Mr. Akgül himself, he was born in 1978 and earned a degree in management in the year 2000. During the following 8 years, he was given opportunities involving both the manufacturing and shipowning branches of the group. “I really love the job I do and having engaged in brand creation process, feel satisfied as a business manager” he comments. He also commemorated Denizsan’s late partner and board member Mr. Salih Uzun, being “proud to have been at his apprenticeship”. Mr. Akgül is married and is father to a son. Crisis “a good lecture of prudence for many” Mr. Akgül said, it had taken a while for him to realize the “gravity of situation” as he was busy with newbuildings and occupied with field work. “I was confronted with one of the most intimidating and devastating crisis of the industry when I walked up to the office and literally, changed my overalls to put on the suit” he reminisced. First and most important lesson learnt was prudence, he told, adding that conservative approach implemented by the founders of the company had spared them “most of the trouble other owners had to go through”. Although the crisis appears to be continuing to rock the boat, which all the industry is in, Mr. Akgün points out to the fact that crisis had created a space for R&D activities that led to new product line. This, Mr. Akgül said, is an example as to how crises can bring along upsides and opportunities.
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NEW PROJECT
Turkish Marine Post
Industry skeptical over Canal Istanbul Maritime professionals Turkish Marine Post consulted all agree that, owners would scarcely prefer a high priced passage tariff to the free Bosphorus passage. urkish Prime Minister Recep Tayyip Erdoğan unveiled the long-awaited crazy project on 27 April and announced “Canal Istanbul”, a 45 to 50 kilometers long artificial waterway to be constructed paralleling the Bosphorus on the western peninsula. “Istanbul will now become a city where two seas run through” he said, hitting the headlines with the same motto the following day. Some found it unnecessarily “crazy” while some others approved, yet it surely stirred much debate across the country. Turkish Marine Post takes the maritime commerce approach towards the Canal Istanbul project. Despite some scientists argue that the Canal could disrupt the fragile balance of Mediterranean and Black Sea, jurists do not see any discrepancies to the Montraux Convention. The project thrilled the building industry, as it will obviously induce serious demand for construction services and products, however did not really have the desired effect on marine industry according to operators who frequently use the Bosphorus.
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Russian ambassador voices doubts Maritime professionals Turkish Marine Post consulted all agree that, owners would scarcely prefer a high priced passage tariff to the free Bosphorus passage, although at this stage it is still not clear to what extent the canal passages will be subject to fees. There is strong anticipation, however, that the government will impose high fees as the budget of about 12 billion USD for the project, warrants such. Russia’s ambassador to Ankara, Mr. Vladimir Ivanovsky opines alike according to Turkish daily newspaper Radikal. “In order for this project to prove feasible, it has to financially reliable, which means it should generate income. This is only possible with passing charges, but why would anyone opt to pay for the canal when there is Bosphorus for free” he said on an interview. Traffic weakens as size goes up Mr. Ivanovsky might have a point as statistics suggest that among the
50.000 vessels making the Bosphorus passage every year, only 3.600 are over 200 meters in length, implying that majority of ships going through the natural waterway are in essence, smaller. Taking into consideration the dense “coaster” fleet roaming the East Mediterranean, a considerable portion of movements can be attributed to smaller vessels. This means the traffic to be diverted off Bosphorus would, at best case be limited to larger and riskier vessels. Are calculations realistic? On the other hand, as Turkish Prime Minister points out, the canal will be designed to permit larger vessels to pass through, compared to Bosphorus which can accommodate vessel up to 260.000 dwt. The massive canal will have 25 meters of draught and will be 150 meters wide on the surface, allowing humongous VLCC’s as big as 300.000 dwt and as many as 160 vessels daily. The length of the canal is well short of its “rivals”, the Panama and the Suez canals, however
in terms of capacity, it outweighs them. Despite capacity though, claims as to the canal’s earning potential being over 5 to 6 billion USD per annum seems overstated due to the existing profile of vessels passing the Bosphorus. Gold Franc might allow hefty hikes Shipowners, if asked their opinion, do not believe that the canal would turn out as an economic alternative to the Bosphorus. Owners of large vessels emphasize that due to the draught of
Canal versus NABUCCO Despite its controversial features, Canal Istanbul project might turn out to be a strategic maneuver according to Kadir Has University International Relation Department lecturer Professor Emre İşeri, who says the canal could tackle Nabucco gas pipeline. “Developments in Liquefied Natural Gas (LNG) storage and transport technologies could make tankers a viable option against pipelines and the canal could be designed to allow largest LNG supertankers” he pointed out. Interestingly, Azerbaijan has only recently announced that it “has no intention to support a pipeline project”. Azerbaijan last year signed an agreement with Georgia and Romanian for the transportation of 6 to 8 billion cubic meters of LNG via Black Sea tankers. Russia too, is seeking ways to develop a rival pipeline to Nabucco which apparently stands between its prospects of remaining the sole gas supplier to Europe. “Russia wants to maintain its monopoly and expensive pipelines passing through many transit companies is a lot more of a bother than an expensive canal” Mr. Iseri said.
the canal, vessels over 170.000 dwt might have the risk of non-steerage and thus require a tug escort during passage, which is always at an extra cost. Unless the Bosphorus fees become excessive for owners, it seems it will be hard for the government to change old habits. At this very point, another trump card, possibled return to the Gold Franc system, was hinted just a couple of weeks after the project was announced. Turkey currently applies USD based tariffs due to ease of calculation, however if Gold Franc system is reimplemented, strait passages might increase as much as 15 fold. Environmental concerns Perhaps the most overlooked aspect of the canal is far from being economical or strategic and involves natural balance of seas connected via the Bosphorus, a waterway carved by the nature itself. According to Hacettepe University Environmental Engineering Department lecturer Prof. Dr. Cemal Saydam, Black Sea balance is poise with other seas in a very delicate manner, which is indigenous to Black Sea only. “All rivers pouring into the Black Sea are fresh water sources whilst Black Sea remains salt water as a result of deep currents running underneath the strait on certain wind and seasonal conditions” he said adding that Bosphorus and Dardanelles have a specific flow rate to keep the balance. “There is only one way to let water out of Black Sea, whereas we intend to dig another one, which is only 25 meters deep and is unlikely to allow deep currents. This will obviously have impacts on the fragile oceanographic balance” he warned.
Turkish Marine Post
PORT
Çandarlı sets off to outstrip Piraeus oundations of Port Çandarlı, which is set to become Turkey’s largest terminal with 12 million TEU capacity when complete, has been laid at Izmir’s Zeytindağ suburb. Binali Yıldırım, former Minister of Transport Binali Yıldırım, said in the groundbreaking ceremony that the project will “topple the former giant, Port of Piraeus” Also making a speech during the ceremony, incumbent Minister of Transport Habip Soluk stated that port will be established on buildoperate-transfer basis and is aiming 2013 commissioning. “This port will not only make Izmir the new hub of East-West trade but also become an important stop at the new seabound Silk Road” he said. Former Minister of Transport Binali Yıldırım, similarly pointed out to the importance and hub characteristics of the new port and said it will be one of top 10 terminals in the world. Total volume TEU’s handled in Turkey amount to 6 million while Çandarlı alone is contempalted to handle 12 million TEU’s per annum, according to Mr. Yıldırım. He said, “Despite futile attempts of those who opposed and those who were uneased, we dug the first shovel today, for a project that will dethrone once envied Piraeus”.
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Minister haggles for hasty delivery Mr. Yıldırım also took the subcontractors’ promise as he requested that the material and labour required for the project be supplied directly from the region. The former minister “bartered” for a quicker commissioning of the project which was set as 900 days while he asked for an ambitious 750. Limak-Kolin undertakes construction Also speaking at the ceremony, State Railway, Port and Airport Construction Administration (DLH) Acting General Manager Metin Tarhan, cited the port as the “longawaited project in Izmir”. According to him, at the first stage, construction of a 1.800 meter long breakwater will be completed and thereafter a new tender will be held for build-operate-transfer deal. Limak-Kolin Construction Joint Venture was the preferred bidder at the 24 March 2011 tender for the initial infrastructural works, with a contract value of 230 million
Turkish Liras (about 146 million USD) including the breakwater and 800 meters of solid rock filling. Speaking on behalf of the venture, Limak Chairman Nihat Özdemir emphasized that ports and other transport infrastructural investments are crucial for the 2023 exports target of 500 billion USD.
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NEWS
Turkish Marine Post
Shipbuilding exports down to $1.2 billion A
lthough the Turkish shipbuilidng industry registered a 78 percent jump in exports compared to the same period of the previous year, Başaran Bayrak, chairman of the Istanbul Ship and Yacht Exporters’ Association seems cauitous. According to him, 2011 is likely to close with exports around 1.2 billion, but even 2010 performance was around USD 1,35 billion. Turkish shipbuilding industry, operating at 15 percent capacity, has achieved USD 533 million in exports in the first four months of 2011, suggesting a bumper 78 percent of increase. Başaran Bayrak, chairman of the Istanbul Ship and Yacht Exporters’ Association opines that the figure stems from concurrent deliveries and is nothing to be excited about. “We should look at the 12 month period” he said. According to Mr. Başaran the industry is likely to hit USD 1.2 billion by the end of the year. However figures indicate that a downward trend persists as the export figures ultimo 2009 and
2010 were at USD 1,57 billion and USD 1,35 billion respectively. “We are in no better position compared to a year earlier” he said.
Yacht builders catch-up Mr. Başaran Bayrak conveyed that during the first four months, ships and services were provided mainly to Malta, France, Panama, Kazakhstan, the United Arab Emirates, Indonesia, Malaysia, Italy and Marshall Islands. 70 percent of the exports were commercial vessels while the rest were yachts. Yacht builders are closing the gap in temrs of exports as it seem crisis only has had a limited effect on yacht sales in the world as Mr. Başaran also confirms that “yacht exports are expected to reach 40 percent within the total exports of the industry” Yards pin export hopes to barter deals Turkish shipbuilding industry aims to reach USD 10 billion in exports by 2023, in line with the government’s half a trillion USD target for the same
year. Mr. Bayrak called on to the Turkish Government to support the shipyards by implementing a “barter trade system” with oil and gas rich countries such as Iran, Iraq, Azerbaijan, Kazakhstan, Turkmenistan and some African states. “Korea and China’s rise to prominence in
shipbuilding also rests with these countries’ ability to tap into such barter trade deals. These countries have exhanged ships for oil, natural gas or other resources, via deals mediated by their governments” he said, asking the Turkish government to do the same with Turkish shipbuilding.
Tersan clinches yet more Norwegian orders Cemre secures 2.000 dwt Norwegian duo alova based Tersan Shipyard draws more Norwegian fishing vessel orders in addition to the deal involving a pair of fishing vessels inked during the first quarter. The recent contract awarded by the renowned Norwegian fishing vessel operator Strand has been signed during Nor-Shipping and features another trawler pair to be built. Tersan won the orders during Nor-Shipping exhibition in Oslo, after a bidding process
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in which both Norwegian and foreign shipyards competed. In a press statement, Strand announced that it signed a building contract for a trawler duo slated for ,October 2012 and January 2013 delivery. Strand is among the oldest and most established fishing vessel owners in Norway and it is understood that the move is the first stage of their renewing plans for their trawler fleet. The vessels have been developed by Skipsteknisk AS in close cooperation with the
owners and are of ST-116 design. Owners, Solveig Strand and Janne-Grethe Strand Aasnæs emphasized that the 70 meter long vessels will have a green profile and will comply with the highest emission requirements. The trawlers will also be equipped with fish-oil and fishmeal processing plants. In the meantime Tersan this month launched the first of the Norwegian duo, which is scheduled for September delivery.
alova Altınova based Cemre Engineering & Shipyard has reportedly landed an order for two 2,000 dwt offshore vessels in a 22 million USD contract, according to Lloyds List. It is understood that building of each vessel will commence on August and November respectively and each unit will be delivered within a year. Cemre is known for spearheading special purpose focus among Turkish shipyards and has delivered a number of offshore vessels for Norwegian buyers. The contracts were inked following Cemre’s appereance in Nor-Shipping Exhibition.
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NEWS
Turkish Marine Post
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ClassNK seeks coop with Türk Loydu ClassNK delegates including Class NK Chairman Mr. Noboru Ueda supported Türk Loydu’s membership campaign which, he said, Class NK believed will happen eventually.
hange in management at Türk Loydu does not seem to have caused even a brief distraction from its goals including IACS membership. Türk Loydu’s newly elected Chairman Prof. Dr. Tamer Yılmaz revealed that Japanese classification society Nippon Kaiji Kyokai (Class NK) has paid a high profile visit to the classification society head office and proposed regional cooperation as well as support in the course of membership. Turkish Marine Post had covered Türk Loydu on its previous issue featuring the former Chairman Prof. Dr. Mustafa İnsel who had mentioned
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the IACS prospects of the Turkish national classification society. Following the general elections held on May, winner Prof. Dr. Tamer Yılmaz set out for the same goals set by his predecessor. Mr. Yılmaz, in a statement to Turkish Marine Post, emphasized that IACS membership is their priority. Six high profile ClassNK delegates including Class NK Chairman Mr. Noboru Ueda paid a visit to Türk Loydu on the 30th of May, Mr. Yılmaz conveyed. According to him the meetings were “quite productive” and Mr. Ueda supported Türk Loydu’s membership campaign which, he said, Class NK believed will
Sheikh Al Musallam visits ODEK, promises investment privilege n line with its mission to promote Turkish Shipping globally, Oruc Reis Shipping Society (ODEK) welcomed Sheikh Salim Bin Ham Al Musallam, one of the four founding fathers of Abu Dhabi. Sheikh Al Musallam the chairman of Bin Ham Group that plays an important role with its large scale energy and construction investments in the emirate of Abu Dhabi, paid a visit to ODEK with 13 accompanying delegates on the 28th of June. Abu Dhabi is remains to be the best developed emirate in the entire United Arab Emirates. A crowded ODEK delegation hosted the visit during which Al Musallam occasionally referred to
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the historical ties between the two “sister” countries. He also said that he considered Bin Ham Group’s lack of presence in shipping as a big gap and expressed his wish to benefit from Turkish shipping investors’ experiences. “We appreciate Turkish shipping and are in search for a global partner to lead us in shipping investments. Our Turkish brothers will certainly have priority in our considerations” he emphasized. Impressed by ODEK’s studies, Al Musallam invited the society members to Abu Dhabi soonest to discuss “mutual investment project in detail”. According to ODEK officials such a visit is planned at the end of the year.
happen eventually. ClassNK also extended a glad hand to Türk Loydu if it were to require assistance in the couse of membership and proposed a cooperation involving classification projects in the region, Mr. Yılmaz noted.
New chair, same determination New management “vows to push Türk Loydu over new heights” Mr. Yılmaz promised. “We deserve IACS and are advancing resolutely towards this goal” he said. Yılmaz further informed that IACS has been called for the first audit, which might be held during Türk Loydu’s 50th anniversary. Mr. Yılmaz will hold the chair for another two years, during which he ambitiously wishes to complete the membership procedures. Although he agrees that IACS membership is an important step, it seems Mr. Yılmaz will not be satisfied with a piece of IACS turf. “We have things to do after membership, as remaining competitive in the new dynamic world entails constant renovation. You have to be competitive in order to sustain quality and vice-versa” he pointed out. “From now on we will advance more aggresively and develop new businesses” he said.
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YACHT TOURISM
Turkish Marine Post
Yacht tourism whets Turkey’s appetite Following the success of cruise tourism and its pronounced impact on tourism revenues, Turkey quickly realized the significance of similar fields. Aiming to ramp up tourism along the coastline and draw more visitors to historical sites such as Ephesus, Turkey announced new projects that will attract more yachts. The purpose of such efforts is to boost the existing 4 billion USD volume to over 10 billion USD in the next decade, with the help of affluent yachting tourists. urkey enjoys 20 billion USD revenue every year solely coming from tourism with one fifth of it being earned directly from sea tourism, including yachting. As the country managed to attract a sizeable cruise fleet to its ports, it now eyes the yachts wandering across the Mediterranean basin and stepped up marina investments. Istanbul, as well as southern vacation hubs Muğla and Antalya stand out as leading yacht tourism cities while altogether Turkish shores accommodate 50 yacht harbors and piers including 34
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marinas. Total yacht capacity is close to 20 thousand with 6 thousand of it being ashore. The government aims to increase the capacity to 25 thousand and consequently double the revenue generated from yacht tourism to 8 billion USD. Most of the marina investments will be tendered to private sector via build-operatetransfer model. 16 additional facilities will be commissioned by 2013 in the country following the 7 marinas put into service just last year. The government’s ultimate target for 2023, the republic centennial, is 50
thousand berthing capacity and 10 billion USD revenue. Bosphorus to harbour 5.000 yachts Istanbul only has three marina spots with an aggregate berthing capacity of 3 thousand yachts. Istanbul Metropolitan Municipality, in an attempt to satisfy the need, prepares to carry out a series of projects involving construction of 10 floating jetties to serve as safe berths for and additional 5 thousand yachts alongside the Bosphorus. Priority is
given to Tarabya, İstinye and Paşabahçe shores while it is understood 7 more spots at Sarıyer, Beykoz and Beşiktaş districts upon the Bosphorus have been picked for marinas. Muğla to bolster leadership Thirteen of Turkey’s largest yacht harbors in the country are located in Marmaris, Datça, Bodrum and Fethiye districts of Muğla, the Aegean city across the Greek Island of Rhodos. The city can provide berthing for 7 thousand yachts at its current
YACHT TOURISM
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Antalya and Istanbul announced new home ports Turkish cities are in the ascendancy among world cruise tourism destinations, after recovering from 9/11 syndrome that caused the country to be declared potentially unsafe, a paranoid claim that temporarily ruined its glamorous appeal.
capacity, while new investments planned for Datça, Milas and Dalaman districts are expected to add 3 more marinas to the city’s capacity. Government keen for Ephesus revival Prime Minister Recep Tayyip Erdoğan also mentioned plans for yacht tourism during his latest election campaign. According to him, Izmir’s yacht capacity will be increased by over 3 thousand with an ambitious expansion project involding 9 marinas to be built in various touristic districts including Çeşme, Urla, Karşıyaka and Dikili. Another tourism project unveiled by the Prime Minister involves Ephesus and cruise ports. Ancient port of Ephesus will be rebuilt and its surroundings will be restored while the port which is now several kilometers in-land due to alluvial deposits, will be connected to the sea with a complicated project.
What it takes to be a “home port”
ISTANBUL SEAPORT
In order for a port to be designated a home port, the city it is located in must be a popular spot, have proper transport infrastructure, airport joints, cruise port infrastructure and adequate lodgings, say Aydın Marine General Manager Mahmut Aydın and Merkez Shipping Agency President Sadettin Bülbül. According to them the home port serves as a passenger boarding/disembarking hub and in return the home port cities are rewarded with almost 14 times better added value compared to ordinary ports of call. Both Aydın and Bülbül agree that SeaPort “will bridge an important gap”.
Investor: Ataport Inc. Land Owner: 49 Years right of use Concept Architect: 5 + Design / USA Expected Date of Opening: 2Q of 2012 Land Area: 470.000 m2 Total Construction Area: 700.000m2 Cruise Ship Terminal: 40.000 m2 Retail Area: 144.000 m2 Office Zone: 110.000 m2 Exhibition Center: 9.000 m2 Apart Lofts: 280.000 m2 Hotels: 86.000m2 Marina: 5000m2 Other Facilities: 26.000m2
urkey has long been the missing main destination in the East Mediterranean for many cruise enthusiasts due to security warnings issued against potential terrorism in the country following 11th September attacks. However, as the cruise market has been picking up quite well during the past couple of years, country’s reputation is back on the rise. Turkish cities of Istanbul and Antalya have recently been designated “home ports” by many cruise operators. On the demand side, Turks seem to be attracted to the cruise vacation idea at an increasing pace, as operators have been reserving more suits for Turkish clients lately. Azamara and Celebrity picked Istanbul while Classic International Cruise opted for Antalya as their Turkish home ports. MSC, Royal Caribbean and Costa are among the operators that almost doubled number of suits reserved for Turkish passengers. It is also noted that with the cancellation of Greek visa on
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green passports, Greek Islands tours are expected to draw more Turks in 2011. SeaPort prepares for 2,5 million tourists Meanwhile, the construction of Istanbul’s biggest mega yacht and cruise port complex commenced during May. Undertaken by Rönesans-Koçhan Joint Venture, the projected value of the facilities will be 1,5 billion Euros. In a press statement on behalf of the joint venture, Rönesans Group Chairman Erman Ilıcak has made reference to Istanbul’s position as a home port and told that the complex includes 10 hotels. “This project, when complete 4 years later, will allow for additional 70 thousand people to be employed in the tourism industry” he said. Mr. Ilıcak also compared the project with Cannes and explained that Istanbul “lacked an all-inclusive facility that is completely cruise oriented”. Turkey currently admits 450 thousand cruise passangers annually. This figure is expected to soar to 2.5 million in the next 4 years.
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INSURANCE
Insurance broker claims Turkish P&I possible
Turkish Marine Post
Turkish insurer encroaches Greek market urkish Hull & Marchinery insurer and an İşbank affiliate Anadolu Sigorta A.Ş. set eyes on foreign portfolios, encouraged by its success of having covered almost half of the entire Turkish merchant fleet. Anadolu has already insured a greek shipowner’s fleet who is a client of Assi Geneo Omni Insurance Brokers. The placement, involving 5 dry bulk vessels with a total of 121.000 dwt, was reportedly arranged by Omni Insurance Brokers of Istanbul. According to Anadolu Sigorta Marine and Liability Insurance Department Manager Captain Murat Işıklı, the agreement, signed on the 6th of April, is worth 18,4 million USD. Anadolu last year registered a gross premium revenue of about 40 million TL (25,5 million USD) and has almost half of the Turkish fleet under its coverage. This year the insurer hopes to add Istanbul Ferry Lines (IDO) into the potfolio. Anadolu also studies Russian, Italian and Syrian markets, Mr. Işıklı says.
T mni Insurance and Reassurance Brokers Ltd. co-founder Korkut Omur, said during an Oruç Reis Shipping Society (ODEK) organised panel that Turkish shipowners could “easily constitute the 10 million GRT required” to launch a Turkish P&I club. Omni Insurance Brokers Ltd., Turkish ship insurance brokerage
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house was featured at one of ODEK’s taditional panels aimed to introduce young mariners to the industry’s leading figures. ODEK member and Omni’s founder Korkut Omur, during the panel held in April echoed previous attempts to start a Turkish P&I and asserted that it is “still possible”. Mr. Omur indicated that if the Turkish owners support
the move a succesful Turkish P&I club could become one of the nearly 30 P&I clubs worldwide as he believes that the 10 million GRT stipulation could easily be met. In response to a question as to whether high coverage policies could pose a risk threat for the club, Mr. Omur suggested that reassurance systems could protect the Turkish P&I.
Turkish Marine Post
ODEK
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ODEK’s makes first trip to Morocco Set out with a mission to help rise Turkish shipping to prominence internationally, Oruç Reis Shipping Society (ODEK) has paid its first cross-border visit to Algeria, along with a crowded entourage.
DEK has set foot in Algeria for an official visit, featuring only shipping businessmen, between 19 and 21 May. Turkish companies’ competitive edge in the region and Algeria’s key position for African expansion apparently made it an ideal destination for a full scale visit. The visiting party, composed of 15 individuals businessmen that hail from diverse segments of the industry, represented Turkish shipping with all aspects. ODEK and Solar Ship Salvage Chairman Murat Dalyan, ODEK Board Member, Secretary General and at the same time Gisan Commercial
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Manager Vedat Parlar and lastly ODEK Board Member as well as Gürdesan Shipping Vice President İsmail Gürsoy represented the club at senior level. The delegation first paid a visit to Moroccan Shipowners’ Association Chairman Munir Karia at his office in Casablanca on 19 May and received a briefing on Morocco’s shipping history, which was followed by a discussion on contemporary issues facing Morroccan shipping. ODEK Chairman presented a plaque to commemorate the visit and express gratitude. The next day’s visit was paid to Confédération
Général des Entreprises du Maroc (CGEM) General Manager Munir Ferram at Casablanca and was debriefed on shipping. The delegations next stop at the state capital Rabat was Moroccan Investments Development Agency, which assembles regional investment agencies under the same roof. ODEK members met Cooperation Development Director Siilmassi Idrisi, Manager for Enterprises Abroad Necma Al Huda Buamama and President Fethullah Sicilmasi, and received first hand information on conditions and prerequisites for their future investments. Chairman of the Federation for Moroccan Chambers of Fishery Mr. Hibato Malaininne Al Abadila greeted ODEK members warmly and hospitably. Mr. Abadila informed ODEK members on fishing industry in Morocco and was presented a gratitude plaque. ODEK delegation also visited Mr. Muhammed Abdelcelil, President to MarsaMaroc, which runs many Moroccan ports and Tangiers Project head Al Mahcub Bayri. Casablanca based Turkish school Muhammed El Fatih was also among the visit destinations. ODEK delegation was accompanied by TurkishMoroccan Businessmen Association (TUFIAD) Secretary General Mr. Gökmen Ertaş throughout their visit, cementing ties with ODEK for future shipping related activities. ODEK aims to strengthen ties with mutual visits in the future and bolster the fresh foundations of new contacts established in Morocco, a strategy which will be tightly applied for other countries on ODEK’s radar.
ODEK’s short and long term plans. According to Mr. Dalyan, ODEK is poised to increase its influence over the domestic shipping community through new representative offices in important Turkish port cities and promotion of membership. However ODEK’s main endeavor is set to be improving Turkish Maritime Society’s publicity across the globe. “We plan branch offices in the UK, Singapore, Africa and South America. These will also serve as outposts for our frequent visits that are aimed at embracing new business opportunities in such countries” Mr. Dalyan said.
Awards for the devoted At the end of the night, ODEK conferred awards to the prominent members of the society who contributed to Turkish Shipping “not only with commercial success but by inspiration and guidance”. Barbaros Shipping Association (BADER) Chairman Mr. Ali Şeyhun, IDO General Manager Mr. Ahmet Paksoy, Gürdesan Chairman Mr. Mustafa Gürsoy, Vera Shipping owner Mr. Mustafa Dalgın and UZMAR founder Capt. Altay Altuğ were presented commemoration plaques by ODEK board members.
ODEK heralds global expansion for Turkish shipping ruç Reis Maritime Society (ODEK) celebrated first year with a grand reception on the 26th of May at the organization’s premises. ODEK Chairman, in his opening speech during the event marked 2012 as the year “Turkish shipping is set to make its global emergence”. Over 400 guests have honored ODEK’s invitation to attend the lavish reception marking the first year of the newly formed society. Mr. Murat Dalyan, ODEK chairman delivered an opening speech unveiling
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