Turkish rebar producer Izmir Demir Çelik Sanayi (IDC) has announced that it has decided to terminate its ship activities to optimize its operations and create a structure more suitable for its long-term strategic goals.
The company’s dry cargo ships M/V Halil Şahin, M/V IDC Pearl, and M/V IDC Diamond will be sold to the United Arab Emirates-based companies Sea Eagle Shipping & Trading Co., Sea Pearl Shipping & Trading Co. and Sea Diamond Shipping & Trading Co. for a total $23 million. IDC expects to have a profit impact of approximately TRY 674.65 million from the sales.