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07 April 2020 The on-line newspaper devoted to the world of transports 18:59 GMT+2

February 7, 2011

Turkish shipyards on the verge of closure due to financial crisis

Mürsel Karadeniz, Istanbul
Zaman Daily Newspaper

The number of operating Turkish shipyards has decreased by 60 percent since 2008, when the global financial crisis started, leading to a possible closing down of the sector.
The tremendous growth of the Turkish shipbuilding industry began in 2005, when orders increased tenfold, and lasted until 2008, when the shipbuilding sector had reached a total turnover of $3 billion. Due to the global financial crisis that started in 2008 the sector, which was able to build approximately 250 ships per year, has witnessed many cancelled orders ......
Read more on Zaman Daily Newspaper

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