According to a report on Thursday that cited trade data, the Turkish ship and yacht industry reached the greatest export figure for the first ten months from January to October, totaling $1.8 billion (TL 76.06 billion).
Sector leaders are now striving to break the annual record due to a positive sales momentum. According to a report by Anadolu Agency (AA), the sector’s exports rose by 16.3% from the same time previous year, accounting for 0.9% of Turkey’s overall exports.
Norway was the sector’s biggest export market from January to October, with $325.95 million. The Marshall Islands came in second with $163.6 million, Denmark with $172.8 million, Greece with $164.4 million, and the United Arab Emirates (UAE) with $139.2 million.
Cem Seven, president of the Turkish Ship, Yacht and Marine Services Exporters’ Association (GYHIP), evaluated the sector’s trends and pointed out that exports from free zones and foreign-exchange-earning services offered by member companies are not included in the stated data. He claimed that with two months remaining in the year, they have attained the intended export levels by comparing goals and projections at the beginning of the year.
“The main reason behind this reflected success is our long-standing delivery track record and business relationships. In fact, current export figures come mainly from orders received 12-48 months ago. We can truly say we are reaping the fruits of past successful work,” he said.
Seven went on to say that their year-end export target at the beginning of 2025 was $1.7 billion, and they are currently striving to exceed the yearly export record of $1.942 billion. “We even managed to get ahead,” he continued, pointing out that they had already achieved their goals for the first ten months. Realizing our goal is the next stage. Our objective is to reach $1.942 billion in exports during the next two months, and perhaps approach $2 billion for the first time in our history,” he stated.
As part of decarbonization regulations, he also assessed how the International Maritime Organization’s (IMO) goal of achieving zero emissions by 2050 will affect exports.
“As Turkey, we have developed significant R&D and application experience in liquified natural gas (LNG), hybrid-electric systems, battery-assisted propulsion solutions and energy recovery technologies. This infrastructure boosts our competitive edge in the green transformation process,” he maintained.
Seven also emphasized the industry’s strengths in local engineering workforces and supply networks, and pointed out that the cooperative approach between universities, research facilities, design offices, and shipyards offers flexibility in creating and implementing next-generation technology.
He gave details about the planned export regions, stating that the main target markets are still Northern Europe and other European nations.
Speaking about their aim to expand their share in the Canadian market, he added: “It’s a market on our radar with our digital promotion project goals. In the Gulf and Middle Eastern countries, we want to increase our effectiveness for many product groups.”
Source: Daily Sabah
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