Literature Review of My Dissertation Essay Example | Topics and Well Written Essays - 1500 words

Literature Review of My Dissertation - Essay Example Prior to the international disaster setting in, it was flourishing and was considered to be Turkey’s trademark and a proof of the active role it played in world economic trade scenario. â€Å"The Turkish shipbuilding industry has made a considerable contribution to the Turkish economy with 1.5 billion $ from new ship building, 1 billion $ from repair and maintenance activities. Furthermore, industry creates an employment opportunity to 25,000 people directly and 100,000 people in total with related industries. In 2007, 98 ships with a total of 670.000 DWT were delivered. 80 Ships and yachts were already contracted for 2008. Over the past three years, Turkey has gone from being the world’s 23rd largest shipbuilder to being 8th on the list.† (Tulay Uyanik) It was truly global in its reach and remained commercially lucrative and profitable for a very long period of time till the worldwide financial recession gripped this business too in its vicious claws. Mr.Zaman, Minister of Transport Binali Yildirim says, â€Å"The shipbuilding capacity has increased by an average of 65 percent in the last four years. The number of shipyards operating or about to start operating in Tuzla as well as in the Black Sea, Izmit Gulf, Yalova, in the Aegean or Mediterranean has reached 60. We used to build ships of up to 20,000 tons maximum but we are currently able to build ships of up to 60,000-70,000 tons.† (www.turks.us) The once-prosperous community of owners who were doing extremely well earlier are now facing a grim situation coupled with many challenges like the over-valued lira which is the currency of Turkey, an unexpected spurt in the overall costs of running the ships and large amounts of contributions made towards the social security benefits of the crew members aboard these active ships. The high costs of protecting the workers’ interests increased the maintenance