The ship renewal incentive program's capacity rises to 26,754 GT for 2026, following a withdrawal by a previous applicant.
23,263 GT of capacity reopened in the ship renewal incentive.
The available capacity for the incentive aimed at the construction of new ships to replace Turkish-flagged vessels that are scrapped has increased to 26,754 GT for 2026. This increase resulted from a company that had previously gained the right to the incentive withdrawing its application.
The General Directorate of Maritime Affairs has recalculated the remaining capacity for the incentive program for the construction of new ships to replace scrapped Turkish-flagged vessels for the year 2026.
According to the regulation, a maximum of 10 ships can be incentivized within a calendar year, and the total gross tonnage must not exceed 50,000 GT. Previously, an incentive of 17.4 million dollars was allocated for 46,509 GT, and it was announced that the available limit was 3,491 GT.
However, following the withdrawal of a company that had gained the right to the incentive for 2026, the current incentive capacity was revised to 26,754 GT. Accordingly, the previously closed capacity of 23,263 GT has become reusable.
The announced figure is not cash, but gross ton capacity.
The 26,754 GT mentioned here is not the amount of cash to be distributed as an incentive. Gross tonnage refers to an international measurement of tonnage based on the enclosed volume of a ship, rather than its weight or the amount of cargo it can carry.
Similarly, it should not be concluded that the entire amount of 17.4 million dollars mentioned in the previous announcement has been paid to the beneficiaries. The official letter states that this amount has been allocated. Payment may occur at different stages depending on the construction schedule, eligibility conditions, and project progress.
The name of the company that withdrew from the program, the type of the scrapped vessel, the tonnage of the planned new ship, and the allocated incentive amount were not specified in the public announcement. Therefore, it is currently unknown how many applications the reopened 23,263 GT can be distributed among.
The fundamental aim of the incentive for the sector is to remove aging Turkish-flagged vessels from the fleet, support new ship orders, and increase construction activities in Turkish shipyards. However, the outcome should be measured not only by how many ships received support but also by whether the new ships remain under the Turkish flag and the technical standards with which they are built.
Source: SeaNews Türkiye
