New majority partner for Proteksan Turquoise
With the sale of a majority share of Proteksan Turquoise to the owner of Oceanco, Dr. Mohammed Al Barwani, the Turkish yard's CEO, Mehmet Karabeyoğlu provides SuperyachtNews.com with exclusive information about the details of the deal.…
SuperyachtNews.com can reveal that Dr. Mohammed Al Barwani, the owner of Oceanco who is based in the Sultanate of Oman, is the new majority partner in Proteksan Turquoise in Istanbul, Turkey.
When The Superyacht Report recently visited the Turkish shipyard, CEO Mehmet Karabeyoğlu intimated that plans were afoot. Over the weekend he confirmed that Dr. Barwani now has a 63 per cent interest in the shipyard, effectively replacing the share vacated by the former CEO, the late Hayati Kamhi.
A five per cent stake will be held by other Turkish investors, with Karabeyoğlu retaining the remainder. The name of the shipyard will likely change, but this has yet to be confirmed.
“One thing I wish to make very clear is that we are not entering into a partnership with Oceanco at this stage,” said Karabeyoğlu by phone. “The two shipyards will remain separate entities, although clearly linked at the very top by Dr. Barwani. This is excellent news with which to close the year.”
The last new build to be launched by Proteskan was 50m Ileria in 2013, but it is three years since the yard received a new order and it has relied on refit projects to see it through a difficult period.
Karabeyoğlu further revealed that he is in the process of negotiating on two 40m Fast Hull Displacement projects by Van Oossanen Naval Architects with exterior design by Cor D. Rover.
When The Superyacht Report recently visited the Turkish shipyard, CEO Mehmet Karabeyoğlu intimated that plans were afoot. Over the weekend he confirmed that Dr. Barwani now has a 63 per cent interest in the shipyard, effectively replacing the share vacated by the former CEO, the late Hayati Kamhi.
A five per cent stake will be held by other Turkish investors, with Karabeyoğlu retaining the remainder. The name of the shipyard will likely change, but this has yet to be confirmed.
“One thing I wish to make very clear is that we are not entering into a partnership with Oceanco at this stage,” said Karabeyoğlu by phone. “The two shipyards will remain separate entities, although clearly linked at the very top by Dr. Barwani. This is excellent news with which to close the year.”
Mehmet Karabeyoğlu. Image courtesy of Justin Ratcliffe.
Karabeyoğlu also confirmed that contracts have been signed to complete two existing hulls that are currently in a sister yard in Celik: a 47m to be restyled by H2 Design and an 81m originally designed by Andrew Winch. The last new build to be launched by Proteskan was 50m Ileria in 2013, but it is three years since the yard received a new order and it has relied on refit projects to see it through a difficult period.
Karabeyoğlu further revealed that he is in the process of negotiating on two 40m Fast Hull Displacement projects by Van Oossanen Naval Architects with exterior design by Cor D. Rover.
Profile links
Click here to become part of The Superyacht Group community, and join us in our mission to make this industry accessible to all, and prosperous for the long-term. We are offering access to the superyacht industry’s most comprehensive and longstanding archive of business-critical information, as well as a comprehensive, real-time superyacht fleet database, for just £10 per month, because we are One Industry with One Mission. Sign up here.
