CHAIRMAN's MESSAGE

 

YASA Group which we laid its foundations in 1999 continues its investments uninterruptedly within the 2012. Following the deep economic crisis in 2001, recovery of global economies started to increase the prices in global finance, assets and property markets upon involvement of People’s Republic of China into World Trade Organization in 2004.

By the year 2008, the world economies were enjoying the highest levels by all means which are unseen before. The balloon in asset prices, commodities and stocks reached the levels that were threatening the specific industries. Such as real estate market in U.S and financial papers such as sub-prime mortgage obligations that are being held as marketable securities in various major banks. The default in such credit events brought domino effect to world-wide banking and finance industry which brought unprecedented falling in all the asset classes. Constrains in finance world caused new investments and capacity interruptions. In addition, they also caused various real sector organizations to cut their investment plans.

Maritime sector was one of them and deeply affected as well. The over capacity created with reckless orders from ship owners resulted fast regression in freight costs and price instability caused dire-straits in the worldwide shipping industry.

Despite the negative facts in the shipping community, YASA is still continues to its investments without any interruption. The group had increased the number of ships controlled to 31 vessels with the new addition of 3 highly efficient ships in 2012, while total carrying capacity had been increased to overall 2.620.000 Deadweight tons by keeping the age profile only at 4 years old where the average age profile is 11 In the world maritime industry demonstrates the importance of our competitive power and our dedication to operate with best asset class. It is proved that our innovative, environmentalist and perfectionist approach that we adopt as a Group had made our fleet preferred by the world’s largest industrial groups. Carrying out its activities in the challenging and competitive maritime industry, YASA Group will uninterruptedly continue its investments in 2013 and will be the leader organization in Turkish maritime sector.

 

 

 

CHAIRMAN   

YALÇIN SABANCI