Power-Barge Firm Plans Floating Data Centers to Meet AI Demand
The firm's Kinetics unit plans to develop some of the world's first floating data centers in shipyards, sidestepping the permitting bottlenecks that can hold up onshore construction in key markets such as the US, Chief Executive Officer Mehmet Katmer said in an interview.
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Associated Press
24 minutes ago
- Associated Press
Buying Villas in Fethiye's Buoyant Property Market: How to Gauge the Right Time to Buy
08/19/2025, Istanbul Sisli // PRODIGY: Feature Story // Fethiye was one of the many premium resort locations in Turkey that saw rapid and significant increases in property prices, starting in 2023 and continuing for several months. This prompted concerns from buyers worried about purchasing a holiday or second home during a property boom, and whether they'd be able to buy for a lower price by delaying their transactions. The good news, as explained by the real estate specialists at Property Turkey, is that the market has now largely stabilised. Spikes in prices have started to return closer to market expectations, something foreign national buyers waiting to finalise their purchase of a beautiful coastal villa will undoubtedly be pleased to hear. Property Turkey's local teams, who support international buyers throughout their property acquisitions, have shared some insights into the reason for the Fethiye property boom, and what to expect in the months ahead. Why Did Average Property Sale Prices Soar in Fethiye Last Year? Every property market is subject to fluctuations, but there are sometimes distinct periods where pricing volatility creates a short-term window where real estate either becomes substantially cheaper or more expensive in comparison to similar periods the year before. In Turkey's case, a lot of this was down to regional instability, challenges affecting global economies, and worldwide market trends. This was particularly noticeable in 2023 when the recovery from the pandemic and re-opening of markets saw backlogs of transactions being completed at record speeds and in record numbers. This flurry of activity also meant that rapid price hikes in areas like Antalya, Bodrum and Istanbul created an outward ripple where some of the smaller, more exclusive coastal resorts also saw unprecedented price rises, making a desirable market suddenly less affordable. What Has Happened to the Fethiye Property Market Since? As mentioned above, the market has shown positive indications of stability, which means prices that were temporarily inflated have stopped rising as sharply, and in many cases have returned to the anticipated levels we'd expect. That doesn't mean demand for luxury real estate in Fethiye has waned. Instead, the market is better positioned to meet that demand with a diverse mixture of properties, from generous family homes, traditional Turkish villas, and modern new builds packed with all the conveniences affluent investors expect. Fethiye has seen sustained market appreciation owing to its growing popularity as a tourist destination, interest in short-term holiday lets and foreign investment. Still, improvements in Turkey's economic health, lower inflation levels, and a more stable currency exchange rate have all helped towards correcting the peaks in property prices. However, we'd always recommend prospective buyers speak with our team, especially if they're not currently Turkish residents, aren't familiar with the property market or want more personalised advice about when the best time might be to buy. Aspects like improvements in local infrastructure, augmented transport connections and a beneficial exchange rate against overseas currencies can all trigger higher interest in certain property types, which can in turn influence our guidance about when to pause and when to move forward. We can also offer advice on recently listed properties where the owner is eager to complete the sale quickly, private listings that match your criteria, and periods when tourism slowdowns put buyers in a stronger negotiating position. What Makes the Real Estate Market in Fethiye So Buoyant? Fethiye is a stunning place to live, and draws buyers looking for permanent residences, holiday homes, second properties and investment real estate. Based in Muğla, it offers a combination of a healthy local economy, the beauty of the mountain ranges, and the gorgeous Aegean Sea with its perfect golden beaches and crystal clear waters. Another reason Fethiye is such a popular place to buy is the range of properties available, with everything from chic beachfront apartments with enviable sea views to rustic hillside homes, and large villas with private pools, sun terraces and proximity to the beach. The town isn't, though, a commercialised tourist resort, and has a rich cultural history, with a long heritage in farming, numerous ancient sites and the thriving marina that make Fethiye just as great a place to live and explore as to enjoy a relaxing holiday. An increasing number of buyers, particularly affluent foreign nationals, don't want to live in a resort that lacks authenticity and culture, and are prioritising smaller towns that embrace the local lifestyle and heritage. This is something Fethiye does well, with its bustling fresh food markets, proud Turkish cafe culture, and good schools and healthcare services. Where Are the Best Places in and Around Fethiye for Foreign Property Buyers? Fethiye remains affordable compared to the larger cities, and also benefits from short winters and wonderfully long, warm Mediterranean summers, with several hotspots where real estate prices are always elevated, and others that attract a mixture of buyers with a range of budgets. The town itself is equal parts traditional and tourist-friendly, with a town centre full of modern living amenities and high-quality restaurants, but it also retains its charm and heritage architecture. In contrast, those looking for Fethiye villas with an idyllic coastal lifestyle often pick Calis Beach, with amazing sunsets, unspoiled sea views, and a busy waterfront. For other buyers looking for a quieter family home, or those relocating to Turkey in retirement, we might suggest some of the peaceful neighbourhoods that are close to Ölüdeniz Beach, but feel a little calmer, such as Hisarönü and Ovacık. The best starting point is to think about what you want most from your Fethiye property purchase, how much time you intend to spend in Turkey, and what your minimum expectations and maximum budget are. This enables us to provide customised advice about the current and forthcoming listings we think will be just what you are looking for. You're also welcome to browse our current property listings via the Property Turkey website, where you'll be able to get a great idea of prices, the range of Turkish real estate available to buy, and the types of homes you can see yourself living in. Read more about Property Turkey – Buying a Coastal Apartment in Calis Beach, Turkey's Expat Hotspot About Property Turkey: With 20+ years experience in the Turkish real estate market, team Property Turkey are your experienced, friendly and independent overseas real estate consultants. Our head office is located in London, UK with regional operational offices in: Bodrum, Fethiye & Kalkan, Antalya and Istanbul. Source published by Submit Press Release >> Buying Villas in Fethiye's Buoyant Property Market: How to Gauge the Right Time to Buy
Skift
7 hours ago
- Skift
Turkish Airlines Lets You Pay Extra for Green Jet Fuel, But Will It Help?
Turkish Airlines emailed customers last week with a new offer: the chance to support the development and production of sustainable aviation fuel, which the aviation sector believes is the key to decarbonizing air travel. The airline says the opt-in service can help reduce the environmental impact of a flight. 'With our new optional service launched to support the use of sustainable aviation fuel (SAF), we are taking a step together toward a lower-carbon future,' the airline wrote in the email. 'Take the first step toward sustainable flights and be part of the change.' The announcement came only weeks after the Turkish government revealed plans to require all airlines operating in and out of the country to use SAF
Yahoo
14 hours ago
- Yahoo
Why India tops the list of abandoned sailors
Manas Kumar* has been abandoned on a cargo ship in Ukrainian waters since April. The Indian seaman was part of a crew of 14 transporting popcorn to Turkey from Moldova when the vessel was raided on 18 April, as it made its way down the Danube river which divides Ukraine and Romania. Ukraine claimed the vessel, Anka, was part of Russia's "shadow" fleet, which it said was being used to sell "looted" Ukrainian grain to third countries. But Mr Kumar, who is Anka's chief officer, said that the vessel was running under the flag of Tanzania and was managed by a Turkish company. But exactly who owns the ship is not clear from the papers provided by the crew, made up of Mr Kumar, five other Indian nationals, as well as two Azerbaijanis and six Egyptians. All are still on board, five months later - despite Ukrainian authorities informing them they were free to leave as they were not under investigation, Mr Kumar said. The problem is disembarking means the crew losing their salaries - amounting to $102,828 by June all together, according to a joint database of abandoned ships maintained by International Labour Organization (ILO) and International Maritime Organization (IMO). The BBC has reached out to the ship's management and owners on details provided by the crew. Mr Kumar says that the crew was not aware of the ship's past at the time of taking the job. Now stuck in a situation far beyond their control, the crew wants a quick resolution. He says the owner and Indian shipping officials keep asking us for one more day to resolve the crisis but nothing promising has come out yet. "This is a war zone. All we want is to return home quickly," he told the BBC. India is the second-largest supplier of sailors and crew of commercial ships globally. But it also tops the list of crew members known as "abandoned seafarers" - a term used by 2006 Maritime Labour Convention to describe the situation when shipowners sever ties with the crew and fail to provide them for repatriation, regular provisions and wages. According to the International Transport Workers' Federation (ITF), which represents seafarers globally, there were 3,133 abandoned sailors across 312 ships in 2024 - of which Indian nationals accounted for 899. For many, leaving the ship without a salary is not possible - especially if they have already paid hefty sums to agents for landing the job or for acquiring training certifications, Mohammad Gulam Ansari, a former seafarer who helps repatriate Indian crew from other parts of the world, tells the BBC. The most significant reason for abandonment is the widespread practice of registering ships - called flags of convenience - in countries that have weak shipping rules, according to ITF. International maritime rules allow a ship to be registered or flagged in a country different from its owners. "A country can set up a ship registry and charge fees to shipowners, while having reduced standards for crew safety and welfare and often failing to live up to the responsibilities of a genuine flag state," the ITF website states. This system, the group says, also obscures the identity of the real owner, which helps dubious owners ply ships. ITF data shows that in 2024, around 90% of the abandoned vessels sailed under a flag of convenience. But complications arise also because of the globalised nature of the shipping industry, with owners, managers, flags and crews of the ship often coming from different countries, industry observers say. On 9 January 2025, Captain Amitabh Chaudhary* was steering a cargo vessel from Iraq to the United Arab Emirates when bad weather forced him to make a slight detour. Minutes later, Tanzania-flagged Stratos vessel hit rocks underneath and damaged its oil-laden tank, forcing an unplanned stall near Saudi Arabia's Jubail port. The crew - including nine Indians and one Iraqi - made several attempts to float it again but they failed. Stuck, they waited there for help for nearly six months before the ship was refloated. The ship's Iraqi owner, meanwhile, refused to pay their salaries citing losses incurred due to the stalled vessel, Mr Chaudhary told the BBC. The BBC reached out to the owners of the ship for a response to these allegations but they didn't respond. Seafarers often blame India's maritime regulator, Directorate General (DG) of Shipping - which is tasked with verifying the credentials of ships, their owners and recruitment and placement agencies - for lax scrutiny of stakeholders. The DG Shipping didn't respond to a request for comment. Others, however, point out that even the crew needs to be more vigilant. "When you are hired, you get enough time to inform the DG Shipping [about any discrepancies in your contract]," said Sushil Deorukhkar, an ITF representative working for the welfare of the seafarers. "Once you sign the papers, you are stuck and have to knock on every door for resolution." Things can get complicated even for the crew on Indian-owned ships operating within the country's waters for a variety of reasons. Captain Prabjeet Singh was employed on Nirvana, an Indian-owned, Curacao-flagged oil tanker, with 22 other Indian crew members. It had recently been sold to a new owner, who wanted it decommissioned, and their salary was under dispute between the new and old owners. In early April, Mr Singh was taking it to a port in western India's Gujarat state for dismantling when an Indian court ordered its seizure "for non-payment of crew", according to the ILO-IMO database. Within days, the crew realised they were abandoned, Mr Singh said. "We were without adequate food and provisions. The ship had run out of diesel and was in complete blackout," Mr Singh told the BBC. "We were forced to break and burn the ship's wood to cook food." Hired in October 2024, Mr Singh had hoped to earn a decent living with this job, and that is why leaving the ship without salary was not a viable option for him. The crew could finally disembark on 7 July after a court-ordered settlement. But the crew's wages remain unpaid despite the court order, according to the ILO-IMO database. Back in the Gulf, the crew of Stratos said their biggest fear was that the hole in the ship's bottom would sink it. But the immediate challenge, they found, was hunger. "For days, we had to eat only rice or potatoes because there were no supplies," Mr Chaudhary told the BBC last week. After nearly six months, the crew finally managed to float the ship back - but the accident had left its rudder damaged, making it unfit to sail. The crew are still at the ship waiting for their salaries to be paid. "We are still at the same place in the same situation. The mind has stopped working, can't think what [more] we should do," Mr Chaudhary said. "Can we get some help? We just want to go home and meet our loved ones." *Some names have been changed to protect identity Follow BBC News India on Instagram, YouTube, X and Facebook Solve the daily Crossword
