Turkish shipyards have stood out in recent years especially with exports of special-purpose vessels, fishing vessels and tugs to Northern Europe. In 2026, as export figures head for a record, industry representatives are pointing to a slowdown in new orders.
The figures
| Period | Ship, yacht and services exports |
|---|---|
| 2025 (annual) | $2.24 billion (+17.4%, all-time high) |
| January 2026 | About double the same month of the previous year |
| January–June 2026 | $1.5 billion |
| 2026 year-end target | $2.5–3 billion |
According to Mustafa Talha Pepe, Chairman of the Ship, Yacht and Services Exporters’ Association (GYHIB), speaking on 12 July 2026, most of the first-half growth came from fishing vessels, special-purpose vessels and tugs bound for Northern Europe.
Yalova’s share
In the first quarter, about half of the sector’s exports came from Yalova alone. Yalova’s sector exports rose 142% on the same period of the previous year. The Yalova–Altinova area is one of Turkey’s largest shipyard clusters.
Old orders behind the record
According to Pepe, today’s exports largely come from deliveries of contracts signed two to three years ago. Because building a ship takes 12 to 36 months, export figures reflect changes in the orderbook with a delay.
Speaking to Ekonomi Gazetesi, Pepe warned that:
- More than 90% of year-end exports will come from past orders.
- Some shipyards have not been able to sign a new contract for a year.
- A stable exchange rate is hurting cost competitiveness, so the outlook for 2027 and 2028 is “not very bright”.
Industry representatives also say difficulties with letters of guarantee and access to finance are limiting new orders.
Green ships: a new opportunity
Turkish shipyards are turning to low-emission (“green”) vessels that meet Northern European emission rules. The EU’s ETS and FuelEU Maritime regulations are increasing demand for such vessels (see our EU ETS 2026 article). Globally, about eight in ten container ships on order are at Chinese yards (see our orderbook article).
Frequently asked questions
Which ships does Turkey export most?
In the first half of 2026, growth came mainly from fishing vessels, special-purpose vessels and tugs bound for Northern Europe.
Why do shipbuilding exports move differently from orders?
Building a ship takes 12 to 36 months. Today’s exports are deliveries of orders placed years ago; today’s slowdown in orders will show up in exports in 2027–2028.
Sources
- Memurlar.net (AA): Turkish shipbuilding heads for a record, target $3 billion (in Turkish)
- CNBC-e: Record expected in the ship and yacht sector (in Turkish)
- Mynet Finans: $1.5 billion in the first six months, sector expects a record by year-end (in Turkish)
- Ekonomi Gazetesi: New orders blocked in shipbuilding (in Turkish)
- Forbes Türkiye: Ship and yacht exports at an all-time high of $2.2 billion (in Turkish)
- Capital: Ship, yacht and services exports doubled in January (in Turkish)
- Yeni Birlik Gazetesi: Yalova accounts for half of Turkey’s exports (in Turkish)
- Endeks24: Turkish shipyards turn to green ships, targeting Northern Europe (in Turkish)
This article is based on sources published up to 26 October 2026.