Marine
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Marine

GSD Holding realizes its shipping operations through Cano Maritime Limited, Dodo Maritima Limited, Hako Maritime Limited, Neco Maritime Limited under 77.96% owned subsidiary GSD Denizcilik Gayrimenkul İnşaat Sanayi ve Ticaret A.Ş. and Zeyno Maritime Limited, Mila Maritime Limited under 100% owned subsidiary GSD Shipping B.V.

GSD Denizcilik Gayrimenkul İnşaat Sanayi ve Ticaret A.Ş. continues its operations in the field of international maritime transporting with its investments in dry cargo ships since 2011. GSD Denizcilik is the first and only public shipping company in Turkey and focuses on investing in and operation of modern ECO-type vessels. GSD Denizcilik manages 6 vessels (Cano, Dodo, Hako, Zeyno, Neco and Mila) in the fleet.

GSD Shipping B.V. is established as 100% subsidiary of GSD Holding in the Netherlands in October 2016. With a capital of USD 40 million, it operates as a strong capital shipping company.

As of 30 September 2018, 100% capitals of Cano Maritime Limited, Dodo Maritima Limited, Hako Maritime Limited ve Neco Maritime Limited are owned by GSD Denizcilik, 100% capitals of Zeyno Maritime Limited and Mila Maritime Limited are owned by GSD Shipping B.V.

As of 30 November 2018, the sale of Dodo Maritime Limited and Neco Maritime Limited to GSD Shipping B.V. was decided at GSD Denizcilik’s Extraordinary General Assembly Meeting.

Marine operations completed the third quarter of 2018 with total assets TL 816.4 million,  net loss TL 30.4 million and revenue TL 72 million.