Fincantieri and CSSC will create an industrial park for building of cruise ships in China

Fincantieri yardItalian shipbuilder Fincantieri signed a Letter of Intent (LOI) with the China State Shipbuilding Corporation (CSSC), the state shipbuilding holding of China and the authorities of the urban district of Baoshan, Shanghai, on the project to create an industrial park for the construction of cruise ships. The signing ceremony took place during a seminar dedicated to the Chinese project “One Belt, One Road”, in accordance with an agreement concluded in February 2017 in Beijing by the Presidents of Italy and the PRC – Sergio Mattarella and Xi Jinping. In this regard, the CEO of Fiscantieri Giuseppe Bono signed a binding agreement with CSSC and Carnival Corporation on the construction of two cruise ships, with an option for four additional liners of a single project.

The agreement follows the deal signed between Italian shipbuilder Fincantieri and China State Shipbuilding Corp (CSSC), contracted with Carnival Corporation to build the first China-made cruise ships for the fast-growing Chinese cruise market, which worth 1.5 billion USD.

The first ship is expected to be delivered in 2023 and will be operated by a joint venture formed by CSSC, CIC Capital and Carnival. The joint venture plans to launch a cruise brand in China using ships purchased from Carnival’s current fleet.

Fincantieri is one of the world’s largest shipbuilding groups, the foundation has built more than 7,000 vessels. Fincantieri specializes in the construction of cruise ships, and also builds naval vessels, cruise ferries, mega yachts and special vessels. The company carries out contracts for ship repair and conversion of sea-going vessels. Since 1990, 74 cruise ships (including the ship transferred) have been built at the shipyards of the group, 21 more are under design and construction.