October 19th 2020
In 2019, some developments in economies had some positive impact on ship building sector and also supported the rebalancing process in Turkey. We have finished 2019 with positive results and expectations for 2020.
In 2020, the pandemic (COVID-19) has impact on all markets and change the process significantly. The ship building sector in Turkey suffered from travel restrictions and lack of mobilization due to COVID-19 impacts, the effect of higher service and operating costs, in addition to the slowdown in macroeconomics, fluctuations in oil supply and oil prices and other financial developments.
Despite the difficult conditions of 2020, with our experience of more than 20 years in the ship building sector, TRX Marine has been established and reinforced with our partnerships, we are ready to be one of Turkey’s entrepreneur company in ship building sector. We strive for opportunities in order to sustain our operations in a healthy financial structure and are ready for our operational achievements. In 2021, TRX Marine will issue its long-term plan including risk analysis to achieve a successful year. In order to maintain our financial activities, we will submit our investment and finance plan to our Board to get their full support. In addition, we reduced our sensitivity to exchange rate fluctuations. Our Company created production portfolio and has a proactive approach in raising the level of productivity.
As being one of Turkey’s ship building company, we continued our efforts in 2020 as well, to serve our clients sufficiently. Within the scope of our strategy, while we manage our projects in an optimum manner, we developed and improve a range of different ideas and projects that will create added value for our Company and for our clients.
TRX Marine continues its active and leading role in the ship building market with risk management and expansion strategies. Thanks to the wealth of experience, knowledge and technologies that we have in ship building sector, we can be able to expand our services. We closely follow the ship building market as well as the clients’ market. With the strategy of being more active in the market for 2021, we completed our preparations to build sophisticated projects. In the coming period, we aim to reduce building costs and to play an effective role in the market. TRX Marine wants to be one of the company providing the highest contribution to economy in near future. We have not been ranked yet but our target is to be in list of Turkey’s largest 500 companies.
TRX Marine, one of the leading player, continuously support the industry on every platform related to the ship building market. As in previous years, in 2020 as well we continued our activities in the areas of environmental friendly, social responsibility and sustainability. In all our activities, it has always been our basic principle to improve our projects. We reinforced our respect for our understanding of high-standards. In 2020, despite the several uncertainties and negativities in the world, in Turkey and in our sector, we, TRX Marine, achieved successful results in financial and operational terms, with our proactive approach and the correct and decisions have been taken on time. Thanks to the effective teamwork, solidarity and efficient collaborations that our partners and employees strive, we will overcome all these difficulties with the best possible outcomes.
Strongly believe that by continuing this approach in 2021, we will achieve milestone successes and deliver the best services for our clients.