Tersan Shipyard

What Tersan Shipyard does

Tersan Shipyard is a Turkish, privately-held shipbuilder founded in 1998 and headquartered in Altinova, employing 1,001–5,000 people. The company constructs newbuild maritime vessels — including ultra-large cable-laying vessels (CLVs), freezer trawlers, longliners, and other specialized offshore and commercial fishing ships — and provides ship repair services. Its core technical capability lies in delivering large, technically complex, one-off vessels, exemplified by a 148.4-meter ultra-large CLV with 13,000-tonne cable carrying capacity for subsea HVDC and optical cable installation being built for South Korea's LS Marine Solution (€221M contract, June 2025). Tersan has co-built more than 25 vessels with Norwegian naval architect Skipsteknisk, including some of the world's largest freezer trawlers and longliners, and has integrated Tier-1 equipment packages from Kongsberg Maritime and MacGregor on recent projects.

Tersan generates revenue through individually negotiated, project-based vessel construction contracts (one-time licensing per build) and through opportunistic capacity expansion via acquisitions — most notably the 2023 acquisition of Havyard Leirvik Holding AS from Norway's Eqva ASA for NOK 30 million. Its go-to-market motion is direct enterprise sales: competitive tendering and direct business-development relationships with vessel operators, shipping companies, and offshore energy firms. Primary customer segments are Offshore Energy & Subsea (cable installation for offshore wind and HVDC interconnectors), Commercial Fishing (freezer trawlers and longliners), and Maritime Equipment Suppliers (integrated vendor packages). The company is backed by growth capital from the European Bank for Reconstruction and Development ($13.25M, 2022) and operates globally with active customer relationships in Turkey, Norway, and South Korea.

The business model is capital-intensive and project-based, with revenue recognition tied to multi-year build milestones (e.g., the LS Marine CLV is scheduled for delivery in 2027–2028). Vessel pricing is not publicly disclosed and varies by project; the €221M LS Marine contract provides a public reference point for ultra-large specialized builds. Distribution is direct — completed vessels are delivered to commissioning owners without intermediary channels — and brand visibility is concentrated in maritime trade events and direct enterprise outreach.

Name

Tersan Shipyard

Legal name

Tersan Shipyard Inc

Website

https://tersanshipyard.com

Company type

Private

Founded year

1998

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Tersan Shipyard is a privately-held Turkish shipbuilder (founded 1998) constructing ultra-large cable-laying vessels, freezer trawlers, longliners, and other specialized offshore vessels for maritime operators, offshore energy firms, and commercial fishing companies worldwide.

Ownership category

akta.pro rank

Product category

Commercial Shipbuilding

NAICS

Ship Building and Repairing (336611), Ship and Boat Building (3366)

SIC

Ship & Boat Building & Repairing (3730)

akta.pro primary industry

Landing Craft & Amphibious Workboats (LCM/LCT-style, Beaching Craft) (IMAJADAK)

akta.pro secondary industry

Hull, Structure & Steelwork Repair (TLAKAKAE)

Keywords

• Shipbuilding services
• Cable-laying vessels
• Commercial fishing vessels
• Offshore support vessels
• Naval vessel construction

Headquarters

HQ city

Altinova

Offices1 record

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Operations, Supply Chain, Personnel, Infrastructure, Others

Revenue model

1. New Vessel Construction: Tersan Shipyard generates primary revenue through the construction of newbuild vessels including cable-laying vessels, fishing vessels, and offshore support vessels, with contract values reaching hundreds of millions of euros per project.
2. Shipyard Acquisitions: Tersan expands its shipbuilding capacity and capabilities through strategic acquisitions, such as the acquisition of Havyard Leirvik Holding AS for NOK 30 million, which adds additional construction capacity and naval design expertise.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels2 records

Core offering

Tersan Shipyard is a full-service Turkish shipyard that designs and constructs newbuild maritime vessels, specializing in ultra-large, technically complex ships such as cable-laying vessels (CLVs) up to 148.4 meters with 13,000-tonne cable carrying capacity, as well as large-scale commercial fishing vessels (freezer trawlers and longliners). It provides end-to-end newbuild construction using naval architecture partnerships (Skipsteknisk, Havyard Leirvik) and integrated equipment packages from suppliers such as Kongsberg Maritime and MacGregor.

Product overview

Tersan Shipyard is a Turkish shipbuilding company that constructs various types of maritime vessels including ultra-large cable-laying vessels (CLVs) and commercial fishing vessels such as freezer trawlers and longliners. The shipyard has built vessels in collaboration with naval design firms like Norway-based Skipsteknisk (25 vessels) and manufactures specialized vessels for subsea cable installation and commercial fishing operations.

Differentiator

Problem solved

Functional benefit

Products and services

• Ultra-large cable-laying vessels (CLVs) Newbuild ultra-large cable-laying vessels for subsea cable installation, including a 148.4-meter vessel with 13,000-tonne cable carrying capacity and hybrid DC electrical systems designed for subsea HVDC and optical cable installation. Built for subsea cable installation contractors and offshore energy firms (e.g., LS Marine Solution).
• Freezer trawlers Large-scale commercial fishing vessels with on-board freezing capability, built in collaboration with Skipsteknisk naval architects. Among the world's largest freezer trawlers, designed for commercial fishing operators including fleets such as Clearwater Fine Foods.
• Longliners Large-scale longline fishing vessels designed in collaboration with Skipsteknisk naval architects, among the world's largest of their type. Built for commercial fishing operators requiring advanced, high-capacity fishing vessels.
• Offshore and merchant support vessels Newbuild offshore and merchant vessels with marine deck machinery installed for anchoring, mooring, and cable-laying operations, targeting maritime operators and offshore energy firms.

Quantifiable outcome

• Constructed ultra-large CLV with 13,000-tonne cable capacity and 148.4-meter length for LS Marine Solution, expected operational in 2028
• +1 more outcomes

Named customers3 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

Six partnerships are on record, tiered core and minor.

• MacGregorcoreTechnology or Integration · 23 April 2026MacGregor was contracted to supply a comprehensive package of offshore and merchant deck machinery for ultra-large cable-laying vessels to be constructed at Tersan Shipyard in Türkiye. The contract was secured in collaboration with local agent Nemo Marine, booked into MacGregor's Q1 2026 orders, with delivery scheduled for 2027.
• Nemo MarineminorChannel Partner/ Reseller/ Distributor · 23 April 2026Nemo Marine acts as the local agent for MacGregor at Tersan Shipyard in Türkiye, facilitating the supply of deck machinery for ultra-large cable-laying vessels under construction at the shipyard.
• Kongsberg MaritimecoreTechnology or Integration · 25 February 2026Kongsberg Maritime was selected to supply a fully integrated equipment package for LS Marine Solution's ultra-large cable laying vessel being built at Tersan Shipyard in Türkiye. The package includes dynamic positioning systems, integrated control and navigation systems, battery hybrid DC electrical system, and main propulsion and thruster units. Delivery is expected in 2027.
• SkipstekniskcoreStrategic or Co-development Partner · 21 January 2026Skipsteknisk, a Norwegian naval design firm founded in 1976, collaborates with Tersan Shipyard in Turkey where it has built 25 vessels including some of the world's largest freezer trawlers and longliners. Tersan is one of Skipsteknisk's key global shipyard partners for advanced fishing vessel construction.
• LS Marine SolutioncoreStrategic or Co-development Partner · 1 June 2025LS Marine Solution, a South Korean subsea cable installation company, signed a €221 million contract with Tersan Shipyard for the construction of an ultra-large cable-laying vessel at the end of June 2025, with operations expected to begin in 2028. Tersan is building the vessel, while Kongsberg Maritime is supplying the integrated equipment package.
• Eqva ASAminorStrategic or Co-development Partner · 13 November 2023Tersan Shipyard Inc entered into an agreement to acquire Havyard Leirvik Holding AS from Eqva ASA for NOK 30 million, expanding Tersan's shipbuilding portfolio and capacity through strategic acquisition.

Scale indicators3 records

Recent moves6 records

Expansion highlights6 records

Broad incumbents

• Naval Group: French naval defense shipbuilder with growing offshore wind and specialized vessel capability. Adjacent competitor in large complex vessel construction.
• Damen Shipyards: Large Dutch diversified shipbuilder active across offshore, fishing, defense, and workboat segments. Broader portfolio than Tersan but overlapping in offshore and fishing vessel markets.
• Fincantieri: Italian global shipbuilding group with shipyards in Italy, Norway (Vard), Romania, and the US. Operates across cruise, naval, and offshore including cable-lay vessels via Vard.

Regional players

• Sedef Shipyard: Turkish shipyard based in Tuzla building container ships, bulk carriers, and offshore vessels. Same Turkish cost base as Tersan but competing in different vessel classes.
• Cammell Laird: UK shipyard in Birkenhead building naval auxiliaries, ferries, and complex commercial vessels. Comparable in build complexity but serves primarily UK and Commonwealth customers.

Direct peers

• Havyard Group: Norwegian shipbuilder and ship designer of offshore and fishing vessels. Tersan acquired Havyard Leirvik (a Havyard entity) in 2023, making this an overlapping peer in vessel design and construction.
• Ulstein Verft: Norwegian shipyard building advanced offshore and specialized vessels including cable-layers and service vessels for offshore wind. Closely comparable to Tersan in customer base (offshore energy) and vessel complexity.
• Kleven Maritime: Norwegian yard historically building offshore support vessels, fishing vessels, and specialized tonnage. Comparable to Tersan in vessel mix and Norwegian design-partner approach (Salt Ship Design).
• Vard (Fincantieri): Norwegian-Italian shipyard group building specialized offshore service vessels, fishing vessels, and cable-laying vessels. Directly comparable to Tersan in vessel types served and design-partner-driven build model.
• Cemre Shipyard: Turkish shipyard building offshore support vessels, fishing vessels, and specialized tonnage. Most direct geographic peer to Tersan with similar cost structure and customer base.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/TersanShipyard
• Facebookfacebook.com/tersanshipyard
• LinkedInlinkedin.com/company/tersanshipyard

Revenue estimate

Valuation estimate

Number of profiles

Subsidiaries1 record

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A2 records

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Tersan Shipyard