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.

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