Fincantieri Extends Cooperation with CSSC

Fincantieri and China State Shipbuilding Corporation (CSSC) have signed a Memorandum of Understanding for the extension of their existing industrial cooperation to all segments of merchant shipbuilding.

The companies have already have a joint venture dedicated to the first cruise ships ever built in China for the local market and other related activities. They also have several research and development projects underway involving the construction of vessels for the oil and gas industry, cruise-ferries, mega-yachts, special vessels, steel infrastructure, marine engineering and equipment procurement as well as cruise cabins, interior decoration and the establishment of a reliable supply chain in the cruise segment in China. 

Fincantieri and CSSC will establish a joint working group, composed of six members with appropriate technical expertise, three selected by each side. By the end of the year, the group is expected to define potential opportunities for collaboration including analysis of market size and to analyze potential partnerships among CSSC and Fincantieri group companies and suppliers.

In February 2017, Fincantieri, CSSC and Carnival Corporation signed a binding agreement for the construction of two cruise ships, with an option for additional four, at the Shanghai Waigaoqiao Shipbuilding shipyard. The group also signed a letter of intent with CSSC and Shanghai City’s district of Baoshan for the development of the supply chain mainly dedicated to cruise activities, as well as shipbuilding and maritime, and a comprehensive agreement in the field of ship repair and conversions with Huarun Dadong Dockyard, the leading Chinese shipyard specialized in ship repair and refitting activities, aimed at serving the cruise ships based in China.

CEO of Fincantieri Giuseppe Bono commented: “This agreement is a further recognition of our decision to access the great potential represented by China.”