Fincantieri: Five Next-Generation Ships for Carnival Corp

Fincantieri S.p.A. has signed a historic strategic memorandum of agreement with Carnival Corporation & plc for five next-generation cruise ships to be built over the period 2019-2022. The agreement between the two companies also includes options for additional ship builds in the coming years. The agreement is subject to several conditions, including satisfactory ship-owner financing.

This fresh momentum for the partnership between Fincantieri and Carnival Corporation, announcing a program of this magnitude for the first time ever, is of the greatest strategic importance not only for the shipbuilding industry but for the entire domestic economy. In fact, the agreement highlights a long-term program by US-based Carnival Corporation, which has invested in its partnership with Fincantieri over USD 25 billion in Italy, making it one of the country's largest foreign investors. In fact, Fincantieri has built 59 ships for Carnival Corporation since 1990, with another seven ships for the company currently in the Fincantieri orderbook.

Technologically, the new agreement is a turning point for this market, with Carnival Corporation’s highly innovative design of the new-build ships marking the introduction of next-generation ships into the company’s fleet, each of which will reflect the distinctive characteristics of the group's different brands. With 25 years of experience in this sector, Fincantieri will oversee concept development up to the definition of final designs, from which the most efficient and advanced ships in the world will take form in the Monfalcone and Marghera shipyards. The new ships will operate in Carnival Corporation’s established markets in North America and Europe, as well as in newer ones, such as China.

“We’re excited to take this next step in our fleet enhancement plan with this new agreement with Fincantieri that is consistent with our long-term strategy of measured capacity growth over time,” said Arnold Donald, President and CEO of Carnival Corporation. “Our goal as a company is to exceed the expectations of every guest on every ship every day, and these new ships will further enable us to do just that. These will be the most efficient ships we have ever built and the great guest experience will create even more excitement around cruising, allowing new cruisers to realize the superior vacation experience and value that cruising offers versus land-based vacations.”

Giuseppe Bono, CEO of Fincantieri, said: “This program, which is by far one of the most important ones for the Italian industry, makes us proud of the work done over all these years, which has helped make Fincantieri a global byword for excellence. These five ships, combined with the 16 others currently in our cruise orderbook, could bring the total to 21, assuring us solid growth and a long-term strategic perspective. However, in order to continue to stand out successfully from the competition, we must further enhance our in-house process and product competencies.” Bono ended by saying: “We, therefore, expect everyone to operate with their best effort, as it is the only way to defend the leadership positions acquired so far.”

The agreement between Fincantieri and Carnival Corporation, the largest cruise company in the world with a fleet of 101 ships and nine new ships scheduled to be delivered between 2015 and 2018, further confirms this successful relationship lasting more than 20 years.