“Turkish Maritime 22/23 Report” has been published

The prominent findings from the “Turkish Maritime 22/23 Report” prepared by the Turkish Shipowners Association (TAB) with the contributions of Türk Loydu, Türk P&I and Beşiktaş Denizcilik are as follows:

As of August 1, 2023, the capacity of the Turkish merchant fleet has approached 50 million DWT and the growth rate in the last 19 months has reached 67 percent.

While Turkey ranked 14th among 30 countries in DWT growth in January 2023, it rose to 12th in August 2023.

The Turkish merchant fleet constitutes 1.77 percent of the world fleet in DWT and 3.48 percent of the world fleet in terms of numbers.

There was no actual capacity change in the fleet flying the Turkish flag from the beginning of 2022 until 2023.

In the “Highest increase in global fleet DWT rankings in 2022” section, the Turkish merchant fleet ranked 2nd in the world in growth, while the fleets of 12 countries among the top 30 countries decreased.

In the world bulk cargo ship rankings, the Turkish fleet ranked 9th, accounting for 2.16 percent of the world bulk cargo fleet, and in the world general cargo ships ranking, it ranked 5th, accounting for 4.71 percent of the world general cargo ship fleet.

The Turkish fleet has quite insufficient capacity in LPG/LNG and FULL CELLULAR fleets compared to the world fleet.

At the beginning of 2022, there were 14 Capesize BCs in the Turkish fleet with a total capacity of 2,515,933 DWT. However, as of January 1, 2023, Capesize BC numbers increased by 92.86 percent and DWT capacity increased by 92.20 percent.

The number of Aframax in the Turkish fleet increased by 37.5 percent in 2022, and DWT increased by 38.01 percent. The Aframax capacity of the tanker fleet remained at 31 percent.

The proportion of Turkish flags in the Turkish fleet decreased from 16.82 percent to 13.4 percent. On the other hand, the number of Turkish flagged ships decreased by 55 percent in 2022, from 795 to 359.

Click to read the full report