Hatsan Shipyard Naval Shipbuilding

Hat-San Gemi Insaa Bakim Onarim Deniz Nakliyat Sanayi ve Ticaret A.S. is a shipbuilding and repair company operating in the shipyard zone in the Altinova district of Yalova. The company is the maritime investment of Pekar Group, which works in mining, construction, foreign trade and energy. Its shares trade on Borsa Istanbul under the ticker HATSN; it should not be confused with the air rifle manufacturer of the same name.

Investment in the shipyard began in 2007, and shipbuilding activities started in 2008. Today's services fall under three headings: turnkey newbuilding, maintenance and repair, and conversion projects. Delivered work includes a fuel tanker, fishing vessels and wellboats for Norwegian shipowners, an icebreaking tug, a floating power plant conversion, and floating docks built both for the Turkish Naval Forces and for foreign shipowners. The facility, made up of slipways, floating docks and quays, was expanded in 2021 with the takeover of a neighboring shipyard; steel construction for onshore and marine uses can also be carried out.

For shipyard companies, the main topics investors follow are the order book, adherence to delivery schedules, steel plate prices, the balance between foreign currency-based contracts and Turkish lira costs, and the effect of the global freight market on demand for new ships. The stable cash flow provided by repair activity is also important in the assessment.