SuperyachtNews.com – Fleet – A decline in active Turkish shipyards?

One of the most read information published on SuperyachtNews last year called into question the stability of the Turkish new construction market. Based on data provided by The superyacht agency, the article claimed that the market appeared to be heading into a period of consolidation, with the number of shipyards far exceeding a declining number of deliveries in recent years.

At the time of publication, Turkey’s backlog appeared healthy, with 24 projects slated for delivery in 2020 and 16 projects slated for delivery in 2021, compared to a total of eight projects delivered in 2019. However, as mentioned in At the time, these figures seemed unrealistic given that the 24 projects expected for 2020 were to be delivered by 14 different shipyards, while only eight shipyards delivered eight yachts in 2019, and nine shipyards delivered 10 yachts in the year previous.

The skepticism proved to be justified: at the end of 2020, Turkey had delivered only eight projects on six sites, that is to say a third of what was planned. These eight deliveries were made by Mengi Yay Yachts, Venture Yachts, Yildiz Gemi, Turquoise Yachts, Tansu Yachts and Numarine. It should be noted that Perini’s Yildiz Gemi shipyard was sold to new owners earlier this year and has no plans to resume yacht building.

With 38 projects currently in the Turkish order book, and 21 of those expected to be delivered in 2021 from 15 yards, the same skepticism can be applied. In fact, according to The Superyacht Agency, no deliveries have yet been made from Turkey this year.

Of course, it’s important to note that the overly optimistic order book also reflects the fact that a significant proportion of Turkey’s new build fleet is based on speculation. According to The Superyacht Agency, 37% of Turkey’s current order book is built on speculation and by their very nature these projects have uncertain delivery dates that depend on an interested customer’s commitment to a purchase. .

This is only the start, but delivery figures over the past few years indicate that the Turkish new construction market may have settled to a new level of consistency of around eight deliveries per year. With many projects built on speculation, it’s also possible that an increase in sales could quickly bolster these numbers. However, with a still high ratio of shipyards to actual shipments, compared to a decade ago, there is still concern that the number of shipyards in the country is not sustainable to support its national supply chain. .

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