Fincantieri progresses Chinese cruiseship projects

Carnival Corp, CSSC and Fincantieri sign an agreement to build two cruiseships in China for a new Chinese cruise brand (credit: Fincantieri) Carnival Corp, CSSC and Fincantieri sign an agreement to build two cruiseships in China for a new Chinese cruise brand (credit: Fincantieri)

Fincantieri has established a hub for building cruiseships in China and signed contracts to participate in the building of two vessels for Carnival Corp’s Chinese joint venture.

Two cruiseships valued at a combined US$1.5 billion built by China State Shipbuilding Corporation (CSSC) subsidiary Shanghai Waigaoqiao Shipbuilding Co, under license from Fincantieri’s joint venture with CSSC’s Cruise Technology Development Co. The deal, which envisions the first delivery in 2023, includes options for four further vessels.

The ships, whose construction was agreed in letters of intent exchanged in February last year, will be the first of their kind built in China. Their design will be tailored Chinese passengers using CSSC Carnival Cruise Shipping, the new Chinese cruise brand of the joint venture between Carnival Corporation and CSSC.

Meanwhile, Fincantieri has signed contracts to develop a cruise hub in Baoshan in Shanghai, dedicated to cruise, shipbuilding and maritime activities. The hub will act as an ‘industrial basin’ to supply the construction of the ships, providing financing, tax, commercial and administrative benefits as well as land for development and other resources.

Fincantieri said that it had assisted the District of Baoshan in defining preferential policies to attract suppliers and will promote the park to companies – in its group and beyond - which want to participate in the projects.

“The supervision of a strategic and high-potential market progresses with great determination,” said Giuseppe Bono, CEO, Fincantieri. “In unison with two champions such as Carnival Corporation and CSSC, it demonstrates the huge importance of the operation.”

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