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New owner of Proteksan Turquoise comments on change of ownership

New-Build

Before the holidays, we already announced that Turkish shipyard Proteksan Turquoise has a new owner to the company, Mohammed Al Barwani. Dr. Al Barwani and Proteksan CEO Mehmet Karabeyoglu have both commented on the new ownership.

Dr. Al Barwani has been the owner of the leading Dutch shipyard Oceanco since 2010, and the acquirement of a majority stake in Proteksan Turquoise marks his second major investment in the superyacht industry.

Proteksan Turquoise was established in 2001 by Mehmet Karabeyoglu and his late partner Hayati Kamhi. Located at Tuzla near Istanbul, the shipyard has built twenty superyachts over the past 14 years, including the 70.5 metre Talisman C in 2011, the 72.64 metre Vicky in 2012 and the 50.40 metre Ileria in 2013.

In regards to the possible operational synergies between Oceanco and Proteksan Turquoise, Dr. Barwani is clear that the two yards will be kept separate and independent. He says, “We will fully respect the differences between these two brands. Each has its own distinct strength and that’s exactly why I have invested in them both.” He continues, “Different owner segments have different needs and the best way to meet these needs is through differentiated strategies.”

Mehmet Karabeyoglu, CEO of Proteksan Turquoise, comments, “This is great news for the yard. Mohammed Al Barwani has a great track record in business with successful investments in a wide range of industries as diverse as petroleum, mining, engineering, hotels and insurance.”

The yard will now focus on the completion of two existing hulls, the first is an 81 metre Andrew Winch project, and the second is an 47 metre project, that will be restyled by H2 Yacht Design, scheduled for deliveries in 2018 and 2016 respectively.

By Maarten Janssen

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