A modest revival in the Turkish tanker fleet looks likely. The Turkish government, recognising the ageing of the coastal shipping fleet, has announced a plan to introduce scrapping incentives and a credit guarantee fund to encourage modernisation of the fleet with newbuildings, all of which will be built in home yards. A total of 100 coastal vessels are earmarked, with the first 10 vessels allocated in the first half of 2016. At this stage it is unclear what proportion of these coastal vessels will be tankers, but tankers are of course expected to feature.
The Turkish tanker mercantile marine numbers 316 vessels in service, with the maximum Suezmax size enabling navigation of the Bosphorus into Black Sea ports. A further 32 units (including seven Suezmaxes), aggregating 1,565,946 dwt, are on order, but in terms of new investment the shortsea fleet is still somewhat neglected. Palmali Shipping carries the flag for the shortsea fleet, but there are serious doubts that an 18-vessel newbuilding plan will reach full fruition. This may partly be attributed to the tight financial situation of Russia, which has close ties with the Turkish owner and provides charter employment.
In recent weeks conservative Turkish owners have demonstrated their willingness to place more emphasis on wet tonnage. Gungen Denizcilik, which owns four Suezmaxes only (all built new between 2005 and 2012), invested US$140 million in two more high-specification Suezmaxes from Hyundai. Each vessel will cost some US$10 million more than for a standard type. An option is attached for two more, and the firm duo is due for delivery in 2017.
The Kaptanoglu group has invested US$26 million in a return move into shipbuilding by acquiring the leasing rights of Sahin Celik in Tuzla. The latter is one of the busiest shipbuilding and repair sites in Turkey, and is home to a number of companies. Even in recession, owners see Tuzla as a competitively priced selection for shiprepair and newbuildings. For good measure, at the start of 2016 Kaptanoglu will add a 155-metre-long floating dock with a lifting capacity of 9,000 tonnes to boost facilities at its newly acquired shipbuilding site, which has been renamed KPT Shipyard.
Sources for all tables on this page: BRL Shipping Consultants. Data as at 2 October 2015
Tankers on order for Turkish owners | ||
vessel type | no | dwt |
Aframax | 1 | 115,900 |
Handymax | 4 | 200,530 |
Small Chemical | 7 | 50,750 |
Small Products | 13 | 91,766 |
Suezmax | 7 | 1,107,000 |
Total | 32 | 1,565,946 |
Tankers on order for Turkish owners | ||
shipowner | no | dwt |
Palmali Shipping | 18 | 128,216 |
Aktif Denizcilik | 4 | 628,000 |
Dunya Denizcilik | 2 | 100,530 |
Gungen Denizcilik | 2 | 320,000 |
Turkish Owner | 2 | 14,300 |
Yasa Shpg. & Trading | 2 | 100,000 |
Ciner Shipping | 1 | 159,000 |
Geden Lines | 1 | 115,900 |
Total | 32 | 1,565,946 |
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