The number of dry bulk carriers in Turkey stood at 166.88 million gross tonnage in 2023. Evaluating the year-on-year trend, the value increased by 6.18% from 2022. Over the last two years, the market showed a similar upward trajectory, indicative of a positive momentum. However, examining the longer-term trend from 2013 to 2028, the forecasted 5-year Compound Annual Growth Rate (CAGR) up to 2028 is 3.93%, signaling consistent growth, albeit at a relatively moderate pace compared to some previous years. The dry bulk market will witness a significant cumulative growth rate of 21.24% over the next five years.

Future trends to watch for:

Impact of global trade dynamics on the demand for dry bulk carriers.
Technological advancements improving operational efficiency and lowering emissions.
Expansion of port infrastructure in Turkey to accommodate increasing dry bulk tonnage.