Black Sea sees shipbuilding boom, Mediterranean springs a leak

More than 90 percent of world trade is conducted through sea shipping, making shipbuilding one of the fastest growing industries in the recent boom in global trade, which has grown on average by more than 5 percent annually.

As a natural consequence of Turkey being a peninsula located at a strategically central position close to many wealthy European markets, Turkey’s growth in shipping construction has outdone all of its global rivals in the last four years, growing 360 percent.