Proteksan Turquoise Yachts Inc. - Article From The Yacht Report - April 2008 (30/04/2008)
The Proteksan Turquoise Shipyard (page 148) is Turkey’s largest superyacht builder and currently has seven yachts in build (NB 47-51 and NB53-54) with one contract (NB 52) having only just been signed. Proteksan moved into its new Guzelyali-Pendik shipyard last year, though its hulls are built in Izmit in the FTZ, and barged to Pendik for completion. The
yard can build yachts up to 110 metres in length and has the capacity to build four yachts simultaneously. Of the eight yachts (one signed, seven in build) two, of 53.4 and 53.9 metres, are due for completion in 2008. They will be followed in May and December 2009 by motor yachts of 54.7 metres and 58.2 metres. At present 2010 has just one completion planned, that of a 55.7-metre boat with the two 70.54-metre crafts following in January and June 2011.
Necdet Salgur – Proteksan Turquoise Shipyard
1) It is a fact that Turkish yacht building in general has become a great pedigree over the last 15 years. However the type of yacht building needs to be analysed separately, such as:
a) Traditional wooden yachts, which are dominantly gulets ranging from 20 to 30 metres. However, much larger wooden gulets and motor yachts have been produced and are continuing up to as large as 50 metres. This is the segment where one of the biggest progresses has been made to date, which is largely due to availability of local craftsman with high efficiency, allowing for low build-costs.
b) The second group is GRP/composite builders. They have also made some great progresses mainly with yachts up to 36 metres, which are being built with some yards equaling European standards.
c) At the smaller end is the 10- to 20-metre cold moulded and laminated motor yachts, which are also gaining ground in the US and European markets.
d) The steel and aluminium superyacht builders, which have also developed in the European and global markets, have established themselves as a major player. In the last 10 years several superyachts ranging from 40 to 60 metres have been exported fully classed, to MCA and equal to European standards (from Turkey). There are three new yards with this capability coming up in the market but their quality needs to be proven. The reason for the above progress is due to two factors: i Availability of qualified local craftsman; ii Availability of local entrepreneurs with good yachting knowledge to invest in this field. No need to mention lower labour costs.
2) We think that superyacht building will expand at a reasonable rate. We can already see an important rise in quality, which will help us improve in the coming years. We think it is moving in the right direction. The major challenge for the future is the strengthening of the Turkish Lira.
3) Since yacht building in general is paying better and encompassing better environmental conditions there will also be a workforce movement from commercial to yacht building. There is no special government support no contribution towards yacht building over and above support for ship building. As Turkish-built superyachts are delivered to European owners and are proven to be reliable with good second hand values, inherently this will make sales go up.
4) Regarding the future of sales we think there will be a slowdown for yachts below 50 metres, but the bigger end will keep going. (This will go on) until such a point is reached by very-large-yacht owners, who will downsize somewhat, once they digest the super-large yachts and realise the extra burdens associated with the gigas.
At the moment there are two proven megayacht builders with pedigree in Turkey. We think there are two other newcomers with excellent facilities, but as of yet have to prove their performance.
Images
|
