The maritime industry has always been one of the most cyclical and sensitive sectors of the global economy. Freight rates, vessel values, orderbooks, repairs, conversions, and financing conditions react sharply even to the smallest shocks. As a result, the word crisis is almost instinctively uttered whenever volatility emerges.

But does today’s market really represent a crisis? Or is it rather a phase of uncertainty, hesitation, and a prevailing wait-and-see psychology?

Wait-and-See Psychology: Today’s Picture

The current market landscape reveals significant divergences among different segments:

• Segment divergence: Tanker and LNG freight rates are near record highs, while container and dry bulk markets remain under pressure.
• Investor behavior: The central dilemma is whether it’s time to enter the market. The question remains: is it a buying opportunity, or still too early?
• Financing: Banks are selective and interest rates are high, but funding channels are not completely closed.
• Asset values: Tankers are expensive, containers relatively cheap — yet buyers remain cautious.
• Geopolitical and regulatory uncertainty: Route disruptions in the Red Sea and Black Sea, along with IMO and EU ETS rules, are delaying investment decisions.

In short, today’s environment is defined by timing risk. Those with strong cash positions prefer to wait.

Crisis Psychology: Lessons from Post-2008

A true crisis, as seen after 2008, hits all segments simultaneously and reshapes the industry’s mindset:

• Collapse across all segments: Tankers, containers, and bulk carriers operate at loss-making levels.
• Lay-ups and scrapping: Dozens of vessels idle in ports, with demolition activity accelerating.
• Financing freeze: Banks cut lending entirely; newbuilding and secondhand deals come to a halt.
• Panic sales: Shipowners dispose of vessels even at heavy losses.
• Industry sentiment: The focus shifts from seeking opportunities to mere survival.

In such times, preserving liquidity and staying afloat dominate all strategies.

Wait-and-See vs. Crisis — Comparative Table

Conclusion: Managing Patience, Seizing Timing

Today’s shipping markets do not yet reflect a crisis. The industry remains cautious but intact: opportunities are still being monitored, and although capital is expensive, it is accessible. In a real crisis, by contrast, confidence collapses and strategy gives way to survival instincts.

For today’s maritime community, the challenge is not to avoid crisis, but to balance patience with strategic courage. Those who preserve financial resilience, manage risks effectively, and make decisions at the right time will not only weather the uncertainty but also re-emerge stronger when the cycle turns again.

For the Turkish version of the article, please click here.

To view our other reports and presentations, please click here

OKT Shipping Ltd. is the Türkiye’s leading provider of integrated shipyard & shipping services to complement its core Turkish & Worldwide Shipyards’ Representation business together with Shipbrokerage, Site Team Supervision and Research & Marine Consultancy.

In Istanbul – Türkiye, OKT Shipping creates a fertile environment for Worldwide ship owners and shipyards as well as finance institutions, by bringing together connections, know-how and expertise through its services. We are selective and only work with reputable and trustable yards and clients.

More than 30 years’ experience (https://oktshipping.com/about-us/management/) , OKT Shipping and their International partners serve top European, Turkish, American, Canadian and Far Eastern Shipping Companies for their yard selection and other services in Türkiye and Worldwide.

Our team are Naval Architects and ex Shipyard Top Managers has considerable experience in helping businesses to reply all your questions on docking & repairs in Türkiye and globally. We review and reply your questions for the sake of better understanding of our yards and working habits to achieve better results. Our represented shipyards list is constantly updated through common yard pool covering all European agent/broker partners, according to the benefits the yard can provide to Shipowners, the yards’ success and actual latest performance. If necessary, some shipyards removed from the list and being traced separate for a while only. Therefore, please contact us for our latest list when you have any serious enquiry and not to refer our earlier list.

As OKT Shipping Ltd., we also offer consultancy services for both new builds, secondhand ship acquisitions and we are also we are committed to providing optimal solutions for your large-scale special conversion projects. Furthermore, we are delighted to announce our ability to facilitate the establishment of EU ETS company accounts and oversee their management.

To learn more our activities in Türkiye & Worldwide and about this report, please contact:

okt@oktshipping.com

Best Regards,

Osman Kaya TURAN 
Managing Director, OKT Shipping & Trading Ltd.

Peki bugün yaşadığımız tablo gerçekten bir kriz midir? Yoksa sektör, belirsizlik ve tereddütlerin hâkim olduğu bir “bekleme psikolojisi” içinde midir?

Bekleme Psikolojisi: Bugünün Fotoğrafı

Günümüzde denizcilik piyasasında farklı segmentler arasında dikkat çekici ayrışmalar gözleniyor.

• Segment farklılaşması: Tanker ve LNG navlunları rekor seviyelere yaklaşırken, konteyner ve kuru yük piyasaları baskı altında.
• Yatırımcı davranışı: “Oyuna girmek için doğru zaman mı?” sorusu hâlâ cevapsız. Yatırımcıların kafasında, “alım fırsatı mı, yoksa henüz çok mu erken?” ikilemi var.
• Finansman: Bankalar seçici davranıyor, faizler yüksek. Ancak kapılar tamamen kapalı değil.
• Varlık değerleri: Tanker piyasasında fiyatlar yüksek, konteyner gemilerinde ise görece ucuzluk var. Yine de alıcılar temkinli.
• Jeopolitik ve regülasyon belirsizliği: Kızıldeniz ve Karadeniz’deki rota şokları ile IMO ve AB ETS düzenlemeleri, yatırım kararlarını öteliyor.

Kısacası, sektörün ruh halini özetleyen kavram “zamanlama riski”. Güçlü nakit akışına sahip oyuncular beklemeyi tercih ediyor.

Kriz Psikolojisi: 2008 Sonrası Hatırlatması

Gerçek bir kriz, 2008 sonrası yaşandığı gibi, tüm segmentleri aynı anda sarsar.

• Tüm segmentlerde çöküş: Tanker, konteyner ve kuru yük piyasaları eş zamanlı zararına çalışır.
• Lay-up ve hurda: Yüzlerce gemi limanlarda atıl bekler, hurdaya çıkış hızlanır.
• Finansmanda kilitlenme: Bankalar muslukları kapatır, ne yeni inşa ne de ikinci el finansmanı mümkün olur.
• Panik satışlar: Armatörler zararına da olsa gemilerini elden çıkarır.
• Sektör ruh hali: Fırsat kollamaktan çok “hayatta kalma” psikolojisi hâkimdir.

Böylesi dönemlerde tek odak noktası nakdi korumak ve ayakta kalmaktır.

Bekleme mi, Kriz mi?

Aşağıdaki tablo bugünkü durumu 2008 sonrası kriz ortamıyla karşılaştırmalı olarak özetliyor:

Sonuç: Sabrı Yönetmek, Zamanı Yakalamak

Bugünün denizcilik piyasası, henüz bir kriz değil. Sektör, temkinli de olsa yatırım fırsatlarını gözlüyor; sermaye pahalı ama ulaşılabilir. Krizde ise durum bambaşkadır: güven yok olur, strateji yerini hayatta kalma reflekslerine bırakır.

Dolayısıyla bugün denizcilik topluluğu için mesele krizden kaçmak değil, sabır ve stratejik cesareti dengelemek. Finansal dayanıklılığını koruyan, riskini yönetebilen ve doğru zamanda karar alan oyuncular, bu dönemi yalnızca atlatmakla kalmayacak; piyasa yeniden döndüğünde çok daha güçlü bir şekilde sahneye çıkacaktır.

Makalenin İngilizce versiyonu için lütfen buraya tıklayınız.

Diğer rapor ve sunumlarımızı görüntülemek için lütfen buraya tıklayınız.

OKT Denizcilik Ltd., Türkiye merkezli olarak tersanecilik ve armatörlük sektörlerine entegre hizmetler sunan lider bir kuruluştur. Şirketimiz, başta Türk ve uluslararası tersane temsilciliği olmak üzere; gemi brokerliği, saha gözetimi, araştırma ve denizcilik danışmanlığı alanlarında uzmanlaşmıştır. İstanbul’daki merkezimiz aracılığıyla; global armatörler, tersaneler ve finans kuruluşları için bilgi, deneyim ve bağlantılarımızı bir araya getirerek verimli bir iş ortamı sağlamaktayız. Seçici bir yaklaşımla yalnızca güvenilir, itibarlı tersaneler ve müşterilerle çalışıyoruz.

30 yılı aşkın tecrübemizle (yönetim ekibimiz için tıklayınız), OKT Shipping ve uluslararası çözüm ortaklarımız; Türkiye ve dünya genelinde, Avrupa, Amerika, Kanada, Uzak Doğu ve Türk armatörlerine tersane seçimi ve diğer hizmetler konusunda danışmanlık sunmaktadır.

Ekibimiz; Gemi İnşaatı Mühendislerinden ve deneyimli tersane yöneticilerinden oluşmakta olup, Türkiye ve dünya genelindeki bakım-onarım ihtiyaçlarınıza çözüm üretme konusunda kapsamlı deneyime sahiptir. Tarafımıza yönelttiğiniz tüm sorular, temsil ettiğimiz tersaneleri ve iş yapış kültürlerini daha iyi anlamanızı sağlayacak şekilde özenle değerlendirilip yanıtlanmaktadır.

Temsil ettiğimiz tersaneler listesi; Avrupa genelindeki acente ve broker iş ortaklarımızla oluşturulan ortak havuz üzerinden, tersanelerin sunduğu faydalar, başarı düzeyleri ve güncel performansları dikkate alınarak düzenli olarak güncellenmektedir. Gerekli görüldüğünde bazı tersaneler geçici olarak listeden çıkarılmakta ve ayrı olarak izlenmektedir. Bu nedenle, ciddi taleplerinizde lütfen bizimle iletişime geçerek en güncel tersane listemizi talep ediniz; daha önceki listelere başvurulmaması önemle rica olunur.

Türkiye ve dünya genelindeki faaliyetlerimiz ya da bu raporla ilgili daha fazla bilgi almak için bizimle iletişime geçebilirsiniz:
okt@oktshipping.com

Saygılarımızla,
Osman Kaya TURAN
Genel Müdür, OKT Shipping & Trading Ltd.

In a major milestone for Turkey’s maritime industry, Sefine Shipyard—proudly represented by OKT Shipping Ltd. for worldwide clients since its early years—has successfully welcomed the first vessel into its brand-new floating dock, marking the start of an exciting new operational era.

With dimensions of 360 meters in length, 58 meters internal width, and a lifting capacity of 75,000 tons, this state-of-the-art dock stands as one of the largest of its kind in the region. More than just a technical upgrade, the launch of this floating dock reflects Sefine Shipyard’s expanding global vision and strategic commitment to long-term growth.

This addition brings Sefine’s total number of large docks to three, significantly strengthening its capacity to handle complex, large-scale repair and conversion projects:

• Dock No.1 – A 240m x 42m graving dock designed for Post-Panamax vessels up to 90,000 DWT
• Dock No.2 – A 282m x 47m Aframax-type floating dock suitable for vessels up to 120,000 DWT
• Dock No.3 – The newly commissioned 360m x 58m floating dock with a 75,000-ton lifting capacity

Thanks to this expansion, Sefine Shipyard is not only enhancing its operational footprint but also reinforcing its position as a regional hub for high-quality, large-scale marine projects. It’s a step forward not just for Sefine, but for the competitiveness of Turkish ship repair and shipbuilding on the global stage.

At OKT Shipping Ltd., we are proud to be part of this journey—and to support our partners, shipowners, and operators with direct access to one of the most advanced shipyards in the region.

For docking and repair enquiries, please feel free to contact OKT Shipping Ltd. or our local official partners in your region. Let’s shape the future of ship repair together.

In this context, successful shipowning is not solely determined by vessel ownership but is directly linked to strategic management capabilities, financial resilience, institutional structure, human capital management, and stakeholder relations.

This paper briefly analyzes the key factors that influence the success levels of shipowners operating in the maritime industry through a comparative framework, evaluating how different organizational models respond to crises, market shifts, and technological transformation.

Comparative Competitiveness Matrix

Structural Patterns Behind Sustainable Success

Current industry trends and recent case studies reveal that the following strategic patterns are characteristic of sustainably successful shipowners:

• Strategic Growth and Integration: Vertical integration across the logistics chain; capacity expansion through mergers and acquisitions
• Fleet Modernization: Investment in energy-efficient, environmentally compliant new vessels
• Financial Discipline: Strong balance sheet governance, risk diversification, minimizing speculative decisions
• Operational Flexibility: Scalable and modular operational structure in response to market volatility
• Corporate Governance: A balance between professional management and family business values
• Innovative Networks: Strategic partnerships with universities, technology providers, and think tanks
• Trust Capital: Long-term business alliances, contractual reliability, and strong industry reputation

Failure Points: Structural Vulnerabilities

Conversely, recurring weaknesses in failing shipowning operations include:

• Lack of Vision: Short-term thinking, resistance to change, neglect of education and professional development
• Financial Fragility: Excessive debt, unsustainable growth strategies, uncontrolled speculative fleet investments
• Reputation Erosion: Contract violations, damaged creditworthiness, and trust breakdowns
• Operational Decline: Aging fleets, neglected maintenance, limited supervision and safety controls

Conclusion

In the maritime industry, competitive advantage is not achieved solely through technical capabilities or fleet size. It emerges from the integrated management of these elements within a strategic, managerial, and financial framework.

Success in shipowning demands multidimensional balance: between financial stability and operational agility, technological adaptability and human capital development, short-term cash flow and long-term reputation management.

In this regard, organizations that can adapt to evolving market conditions, transform crises into strategic opportunities, and build trust-based relationships are significantly more likely to achieve sustainable long-term success.

For the Turkish version of the article, please click here.

To view our other reports and presentations, please click here

OKT Shipping Ltd. is the Türkiye’s leading provider of integrated shipyard & shipping services to complement its core Turkish & Worldwide Shipyards’ Representation business together with Shipbrokerage, Site Team Supervision and Research & Marine Consultancy. In Istanbul – Türkiye, OKT Shipping creates a fertile environment for Worldwide ship owners and shipyards as well as finance institutions, by bringing together connections, know-how and expertise through its services. We are selective and only work with reputable and trustable yards and clients.

More than 30 years’ experience (https://oktshipping.com/about-us/management/) , OKT Shipping and their International partners serve top European, Turkish, American, Canadian and Far Eastern Shipping Companies for their yard selection and other services in Türkiye and Worldwide.

Our team are Naval Architects and ex Shipyard Top Managers has considerable experience in helping businesses to reply all your questions on docking & repairs in Türkiye and globally. We review and reply your questions for the sake of better understanding of our yards and working habits to achieve better results. Our represented shipyards list is constantly updated through common yard pool covering all European agent/broker partners, according to the benefits the yard can provide to Shipowners, the yards’ success and actual latest performance. If necessary, some shipyards removed from the list and being traced separate for a while only. Therefore, please contact us for our latest list when you have any serious enquiry and not to refer our earlier list.

As OKT Shipping Ltd., we also offer consultancy services for both new builds, secondhand ship acquisitions and we are also we are committed to providing optimal solutions for your large-scale special conversion projects. Furthermore, we are delighted to announce our ability to facilitate the establishment of EU ETS company accounts and oversee their management.

To learn more our activities in Türkiye & Worldwide and about this report, please contact:

okt@oktshipping.com

Best Regards,

Osman Kaya TURAN 
Managing Director, OKT Shipping & Trading Ltd.

Bu çalışmada kısaca, denizcilik sektöründe faaliyet gösteren armatörlerin başarı düzeylerini belirleyen temel faktörler, karşılaştırmalı bir analiz yöntemiyle ele alınmakta; farklı yapıların krizlere, piyasa değişimlerine ve teknolojik dönüşümlere verdikleri tepkiler üzerinden değerlendirme yapılmaktadır.

Karşılaştırmalı Rekabet Gücü Matrisi

Başarıyı Belirleyen Yapısal Kalıplar

Güncel örnekler ve küresel eğilimler ışığında, sürdürülebilir başarıya ulaşan armatörlük yapılarında şu stratejik kalıpların belirleyici olduğu gözlemlenmektedir:

• Stratejik Büyüme ve Entegrasyon: Lojistik zincirin dikey entegrasyonu, birleşme ve satın alma yoluyla kapasite artırımı
• Filo Modernizasyonu: Enerji verimliliği yüksek, çevresel regülasyonlara uyumlu yeni gemilere yatırım
• Finansal Disiplin: Sağlam bilanço yönetimi, risk dağılımı, spekülatif kararların minimize edilmesi
• Operasyonel Esneklik: Dalgalanan piyasa koşullarına karşı ölçeklenebilir ve modüler operasyon yapısı
• Kurumsal Yönetişim: Aile değerleriyle entegre profesyonel yönetim ve kurumsallaşma dengesi
• İnovatif Ağlar: Üniversiteler, teknoloji sağlayıcılar ve düşünce kuruluşlarıyla stratejik iş birlikleri
• Güven Sermayesi: Uzun vadeli iş ortaklıkları, sözleşme güvenilirliği ve sektörel itibar

Başarısızlık Noktaları: Yapısal Zafiyetler

Başarısızlığa sürükleyen örneklerde öne çıkan bazı kritik zafiyetler ise şunlardır:

• Vizyon Eksikliği: Kısa vadeli düşünme, değişime direnç, eğitim ve gelişim süreçlerinin ihmal edilmesi
• Finansal Kırılganlık: Aşırı borç yükü, sürdürülemez büyüme stratejileri, kontrolsüz ve spekülatif filo yatırımları
• İtibar Erozyonu: Sözleşme yükümlülüklerinin ihlali, kredi ilişkilerinde zedelenme, güven kaybı
• Operasyonel Düşüş: Yaşlanan filo, bakım ihlalleri, sınırlı denetim ve emniyet süreçleri

Sonuç

Denizcilik sektöründe rekabet avantajı, sadece teknik donanım ya da filo büyüklüğü ile değil; bu unsurların stratejik, yönetsel ve finansal bir çerçevede bütünleşik biçimde yönetilmesiyle elde edilmektedir. Armatörlük faaliyetlerinde başarı, çok boyutlu bir denge yönetimini gerektirir: finansal istikrar ile operasyonel çeviklik, teknolojik adaptasyon ile insan kaynağı gelişimi, kısa vadeli nakit akışı ile uzun vadeli itibar yönetimi arasında kurulan hassas denge belirleyici olmaktadır. Bu çerçevede, değişen piyasa koşullarına uyum sağlayabilen, krizleri öngörüp stratejiye dönüştürebilen ve güven temelli ilişkiler inşa edebilen yapıların uzun vadeli başarı şansının anlamlı ölçüde arttığı söylenebilir.

Makalenin İngilizce versiyonu için lütfen buraya tıklayınız.

Diğer rapor ve sunumlarımızı görüntülemek için lütfen buraya tıklayınız.

OKT Denizcilik Ltd., Türkiye merkezli olarak tersanecilik ve armatörlük sektörlerine entegre hizmetler sunan lider bir kuruluştur. Şirketimiz, başta Türk ve uluslararası tersane temsilciliği olmak üzere; gemi brokerliği, saha gözetimi, araştırma ve denizcilik danışmanlığı alanlarında uzmanlaşmıştır.

İstanbul’daki merkezimiz aracılığıyla; global armatörler, tersaneler ve finans kuruluşları için bilgi, deneyim ve bağlantılarımızı bir araya getirerek verimli bir iş ortamı sağlamaktayız. Seçici bir yaklaşımla yalnızca güvenilir, itibarlı tersaneler ve müşterilerle çalışıyoruz.

30 yılı aşkın tecrübemizle (yönetim ekibimiz için tıklayınız), OKT Shipping ve uluslararası çözüm ortaklarımız; Türkiye ve dünya genelinde, Avrupa, Amerika, Kanada, Uzak Doğu ve Türk armatörlerine tersane seçimi ve diğer hizmetler konusunda danışmanlık sunmaktadır.

Ekibimiz; Gemi İnşaatı Mühendislerinden ve deneyimli tersane yöneticilerinden oluşmakta olup, Türkiye ve dünya genelindeki bakım-onarım ihtiyaçlarınıza çözüm üretme konusunda kapsamlı deneyime sahiptir. Tarafımıza yönelttiğiniz tüm sorular, temsil ettiğimiz tersaneleri ve iş yapış kültürlerini daha iyi anlamanızı sağlayacak şekilde özenle değerlendirilip yanıtlanmaktadır.

Temsil ettiğimiz tersaneler listesi; Avrupa genelindeki acente ve broker iş ortaklarımızla oluşturulan ortak havuz üzerinden, tersanelerin sunduğu faydalar, başarı düzeyleri ve güncel performansları dikkate alınarak düzenli olarak güncellenmektedir. Gerekli görüldüğünde bazı tersaneler geçici olarak listeden çıkarılmakta ve ayrı olarak izlenmektedir. Bu nedenle, ciddi taleplerinizde lütfen bizimle iletişime geçerek en güncel tersane listemizi talep ediniz; daha önceki listelere başvurulmaması önemle rica olunur.

Türkiye ve dünya genelindeki faaliyetlerimiz ya da bu raporla ilgili daha fazla bilgi almak için bizimle iletişime geçebilirsiniz:
okt@oktshipping.com

Saygılarımızla,
Osman Kaya TURAN
Genel Müdür, OKT Shipping & Trading Ltd.

OKT Shipping Ltd. is the Türkiye’s leading provider of integrated shipyard & shipping services to complement its core Turkish & Worldwide Shipyards’ Representation business together with Shipbrokerage, Site Team Supervision and Research & Marine Consultancy. In Istanbul – Türkiye, OKT Shipping creates a fertile environment for Worldwide ship owners and shipyards as well as finance institutions, by bringing together connections, know-how and expertise through its services. We are selective and only work with reputable and trustable yards and clients.

More than 30 years’ experience, OKT Shipping and their International partners serve top European, Turkish, American, Canadian and Far Eastern Shipping Companies for their yard selection and other services in Türkiye and Worldwide.

Our team are Naval Architects and ex Shipyard Top Managers has considerable experience in helping businesses to reply all your questions on docking & repairs in Türkiye and globally. We review and reply your questions for the sake of better understanding of our yards and working habits to achieve better results. Our represented shipyards list is constantly updated through common yard pool covering all European agent/broker partners, according to the benefits the yard can provide to Shipowners, the yards’ success and actual latest performance. If necessary, some shipyards removed from the list and being traced separate for a while only. Therefore, please contact us for our latest list when you have any serious enquiry and not to refer our earlier list.

As OKT Shipping Ltd., we also offer consultancy services for both new builds, secondhand ship acquisitions and we are also we are committed to providing optimal solutions for your large-scale special conversion projects. Furthermore, we are delighted to announce our ability to facilitate the establishment of EU ETS company accounts and oversee their management.

To learn more our activities in Türkiye & Worldwide and about this report, please contact:

okt@oktshipping.com

• Top 20 Buyers
• Average Sale Price
• Vessel Type
• Average Age
• Sale Month

OKT Shipping Ltd. is the Turkey’s leading provider of integrated shipyard & shipping services to complement its core Turkish & Worldwide Shipyards’ Representation business together with Shipbrokerage, Site Team Supervision and Research & Marine Consultancy. In Istanbul – Turkey, OKT Shipping creates a fertile environment for Worldwide ship owners and shipyards as well as finance institutions, by bringing together connections, know-how and expertise through its services. We are selective and only work with reputable and trustable yards and clients.

More than 30 years’ experience, OKT Shipping and their International partners serve top European, USA, Canadian and Far Eastern Shipping Companies for their yard selection and other services in Turkey and Worldwide. Our represented shipyards list is constantly updated through common yard pool covering all European agent/broker partners, according to the benefits the yard can provide to Shipowners, the yards’ success and actual latest performance. If necessary, some shipyards removed from the list and being traced separate for a while only. Therefore, please contact us for our latest list when you have any serious enquiry and not to refer our earlier list.

As OKT Shipping Ltd., we offer consultancy services for both new builds, secondhand ship acquisitions and we are also we are committed to providing optimal solutions for your large-scale special conversion projects. Furthermore, we are delighted to announce our ability to facilitate the establishment of EU ETS company accounts and oversee their management.

To learn more our activities in Turkey & Worldwide and about this report, please contact:

okt@oktshipping.com

More than 30 years’ experience, OKT Shipping and their International partners serve top European, USA, Canadian and Far Eastern Shipping Companies for their yard selection and other services in Turkey and Worldwide. Our represented shipyards list is constantly updated through common yard pool covering all European agent/broker partners, according to the benefits the yard can provide to Shipowners, the yards’ success and actual latest performance. If necessary, some shipyards removed from the list and being traced separate for a while only. Therefore, please contact us for our latest list when you have any serious enquiry and not to refer our earlier list.

As OKT Shipping Ltd., we offer consultancy services for both new builds, secondhand ship acquisitions and we are also we are committed to providing optimal solutions for your large-scale special conversion projects. Furthermore, we are delighted to announce our ability to facilitate the establishment of EU ETS company accounts and oversee their management.

The attached “OKT – DIRECTIONS – Newbuilding Market – June 2024” study focuses the current facts on the world newbuilding market including navy ships and yachts or not, and the factors dominate the newbuilding market.

To learn more our activities in Turkey & Worldwide and about this report, please contact:

okt@oktshipping.com

More than 30 years’ experience, OKT Shipping and their International partners serve top European, USA, Canadian and Far Eastern Shipping Companies for their yard selection and other services in Turkey and Worldwide.

As part of our business, we also assist our clients in specialist areas that enable their company to expand or improve its business operations. Making sure that research is a source of innovation that improves our stakeholders’ competitiveness in global markets with a shared challenge. OKT Shipping provides our Shipping Partners information about Management, Markets, Shipping and Shipyard Industry. Built on our previous studies and experience, our reports deliver content tailored for its core audience of ship owners, managers, operators and charterers. However, this is also highly relevant for brokers, financiers, insurers and others in the industry taking the decisions which drive global shipping.

The attached report analyses the changes in the newbuilding and secondhand markets in recent years.

We do not expect prices to fall as demand a bit fired with speculators at least few years and it seems no reason for peaking or declining newbuild or secondhand prices unless there is a macroeconomic event. Shipyards’ order backlogs should expand in 2024, even if they deploy selective order taking strategies. With margin improvement set to begin in earnest, the profit upcycle should continue for some years unless there are other turbulence similar to previous ones.

In this nature, many things could be speculation, and as leaders it is always better to be prepared for any challenging high-pressured situation rather than derailing from your role which could impact your leadership respect and reputation. It happened a lot during the last 30 years.

To learn more our activities in Turkey & Worldwide and about this report, please contact: okt@oktshipping.com

Between November 29 and December 3, Mr. Lu Ziyou Chairman of CSSC Chengxi Shipyard and his delegation visited Türkiye for active newbuilding, repair and conversion projects of Turkish Ship Owners and Managers.

The visit was organised by OKT Shipping Ltd., the sole agent of CSSC Chengxi Shipyard in Türkiye. OKT Shipping and Chengxi have a long-term successful cooperation and OKT Shipping succesfully represents CSSC Chengxi Shipyard in Turkey since its establishment.

OKT Shipping Ltd. is the Turkey’s Leading Provider of Integrated Shipyard & Shipping Services. The company creates a fertile environment for worldwide ship owners and shipyards as well as finance institutions with about 30 years of experience in Istanbul, Turkey. Main focus is to bring together connections, know-how and expertise through the following services:

• Representation of Turkish & Worldwide Shipyards
• Shipbrokerage (NB / Sale & Purchase / Demolition)
• Research & Marine Consultancy
• Site Team Supervision in China & Turkey

Chengxi Shipyard Chairman Mr. Lu Ziyou and his team and Mr. Osman Kaya Turan, Managing Director from OKT Shipping Ltd. addressed the meetings respectively, expressing their expectations of further and more extensive collaboration as strategic partners with Turkish Shipowners. Chengxi team also gave the information on the following issues and discussed the possible and active projects with Turkish clients;

• Chengxi Design Bulk Carrier & MR Tanker Newbuilding Projects & Other Newbuilding Activities
• Chengxi – Repair Activities & References  
• Chengxi Rotor Sail & Air Lubrication Retrofits (some of them designed by Chengxi)
• Chengxi non-marine products  

Chengxi Shipyard Co. Ltd. is one of the largest and oldest (since 1973) new building and ship repair enterprises under CSSC (China State Shipbuilding Corporation). The company specializes in new building and ship repair, steel construction as well as offshore engineering, lifting gears, crane and mechanical-electric equipment manufacture. The headquarter of Chengxi Shipyard Co., Ltd is located alongside the south bank of Yangtze River in Jiangyin, Jiangsu Province, eighty nautical miles away from Yangtze River Estuary in Mid China near of Shanghai.

It has an annual capacity of building more than seventeen vessels of various types up to kamsarmax vessel, repairing and converting 200 vessels of various types up to 200,000 dwt, steel structure manufacturing of 200,000 tons and wind turbine tower fabricating about 500 sets.

Chengxi Shipyard always focuses on high quality and efficiency of the shipbuilding, engaged in the core competitiveness of technology and products, the main products already cover three mainstream ship types of Bulk Carrier, Feeder Container and MR tanker, other special shipping market products, such as self-unloading vessels, Bitumen carrier, Chemical tanker, heavy lift MPV, Wood chip carrier etc.

The company is well known in the international ship repair market and also enjoys a good reputation. It has established long standing business relationship with shipping companies from over fifty foreign countries and regions and was highly acclaimed as “a five-star shipyard“. It has annual capacity of repairing about 200 ships of various types. In recent years, relying on technology innovation, the company devoted itself to the specialized ship’s repair and large scale conversions which has high technical content and high added value, including self-unloading vessel/transfer station conversion, FPSO repair, containership elongation projects,  Ro-Ro/Passenger Carrier conversion, reconstruction of sea-damaged containership, Cement Carrier conversion,  Livestock Carrier Conversion, Juice carrier conversion, energy-efficiency & eco-designed optimization project, open-hatch general vessel jumboizing project, accommodation vessel conversion from containership, LPG/LNG repair, VLOC REPAIR, semi-submersible ship repair, scientific research ship repair, and offshore engineering vessel repair/conversion etc., making Chengxi more competitive with different capability and special commercial strength.

The non-marine business features the steel structure manufacturing, which is mainly engaged in wind turbine tower manufacturing at home and abroad. Based on the non-marine products, the company also devotes itself actively to the construction of floating dock, pontoon jetty, self-propelled floating crane, expanding the business including scrubber retrofit equipment, incinerators, derusting equipment, pressure vessel, oil pipelines, and oil/gas module etc. As one of the earliest manufacturers engaged in wind tower products since the year of 2003,  Chengxi has become a high-end oriented industrial representative of large-scale wind tower manufacturing with two production bases, fourteen production lines, possessing an annual production capability of 500 sets and an accumulative performance of having delivered 6,500 sets so far.

Should you have any requirements for new buildings, repairs and retrofits at CSSC Chengxi Shipyard, OKT Shipping is at your disposal any time and open to discuss.

OKT Shipping currently represents around 60 reputable yards in 40 countries inc. China and Turkey and has also partners in 20 countries.

You may download our Free E-Book “Management, International Markets, Shipping and Shipyard Industy – Turkish & English Articles” from the following link. 

Free E-Book – OKT Shipping