Turkish Shipbuilding Sees Upward Trend

According to The New Anatolian there are over 60 shipyards in Turkey at the moment and this number will reach 125 by the year 2008, the Turkish Shipbuilders' Association (GISBIR). The Turkish shipbuilding industry has been going on an upward trend in recent years and it will continue until 2015. He said Turkey is ranked the fifth in terms of orders behind South Korea, China, Japan and Germany, noting that Turkey will soon outsell Germany which focuses on high-tech ships such as warships, research ships and platforms.

The reports said imports make 60 percent of building costs in Turkish shipbuilding industry and stated that they have been seeking investment opportunities in technology to reduce imports in shipbuilding.

According to GISBIR's figures, Turkish shipbuilding industry, which employs 25,000 people, has considerable contribution to Turkish economy with $1.5b from new ship building and $1b from repair and maintenance operations.

Source: The New Anatolian