Fincantieri joint venture – CSSC for the design and construction of cruise ships destined for the Chinese and Asian markets

   Fincantieri has strengthened its cooperation with China State Shipbuilding Corporation (CSSC), the largest shipbuilding conglomerate in China with which the Italian naval-mechanical group and the US cruise group Carnival Corporation have agreed on a strategy for the development of cruise industry in China, signing an agreement for the establishment of a joint venture for this purpose. The signing took place today in Shanghai between the CEO of Fincantieri, Giuseppe Bono, the president of CSSC, Wu Qiang, and the president of CSSC Cruise Technology Development and the shipyard Shanghai Waigaoqiao Shipbuilding (SWS), Wang Qi.

Today’s agreement provides that the joint venture will develop and sell cruise ships used exclusively and specifically customized for the Chinese and Asian market. These ships will be built at one of the sites of CSSC, the SWS website, based on a technology platform licensed to the joint venture itself and the SWS shipyard Fincantieri, which then will operate, always through the joint venture, to provide the activities within its remit. The agreement also provides that Fincantieri will provide the joint venture and the construction site of SWS-specific consulting services and some key components of ships.

At the ceremony today in Shanghai was attended by the Italian Ambassador in China, Ettore Sequi, the Italian Consul General in Shanghai, Stefano Beltrame, the Deputy Minister of Industry and China’s information technology, Xin Guobin, deputy mayor of Shanghai , Zhao Wen, the chief operations officer of Carnival Asia, Michael Ungerer, as well as numerous authorities of the Chinese government and Shanghai municipalities representing the Carnival group.

Recalling that, according to the Ministry of Transport in Beijing, the Chinese cruise market has experienced significant growth in recent years reaching a million passengers in 2015 and that the growth potential is estimated at 4.5 million passengers in 2020, which could bring this market to be the second in the world after the US, and in 8-10 million in 2030, with an annual double-digit growth that would bring the Chinese market to become the first-ever, the CEO of Fincantieri, Giuseppe Bono , stressed that “this new agreement detects once again the primacy of technical and technological expertise of Fincantieri, and – he added – places us at the center of a project without equal in the world which is directly promoted by the Chinese government through a program very ambitious”.

“We’re equipped to deal with the new international scenarios and today – continued Bono – we are chosen as the shipbuilding partners of the development of the cruise of a country that looks great determination in this industry. Even the presence of our main customer Carnival, which will purchase the vessels of the agreements, it is of fundamental importance for the success of the project. As well as a victory and an incentive for the future to work even harder, this result confirms the Group’s ability to grasp the first high-potential strategic opportunities and therefore the role of a global leader in all sectors in which it operates ” .

Regarding the Italian shipyards of Fincantieri group, Bono recalled that “have ensured the work on average for the next ten years and that the agreement – said – may derive additional benefit is related to components that engineering, both of absolute level. ”

“The signing of this agreement with Fincantieri, the industry’s leading international shipbuilding group – said the president of CSSC, Wu Qiang – is another milestone not only for SCCS, but for the history of the Chinese cruise industry, for its development, and for cooperation in shipbuilding between Italy and China. The combined forces to further reinvigorate the rapid growth of the Chinese cruise market and the Asian Pacific. We look forward to working together with Fincantieri, Carnival, CIC (China Investment Corporation) and other strategic partners to be able to build and deliver the first ship from China’s large cruising. “