Fincantieri expands merchant shipbuilding deal with China

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Fincantieri and China State Shipbuilding Corporation (CSSC) have signed a memorandum of understanding for the extension of the industrial cooperation already existing between the two groups, to all segments of merchant shipbuilding.

The agreement was signed in Beijing and outlines the potential for the parties to extend their current collaboration, which includes a joint venture dedicated to the first cruise ships ever built in China for the local market, and a number of research and development projects such as 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 of six members with the aim of concluding preliminary activities such as defining potential opportunities for each of the areas identified for the collaboration, analysing the market size to identify a preferential sales channel, and analysing potential partnerships among CSSC and Fincantieri group companies or its network of suppliers.

The memorandum of understanding follows a binding agreement made in February 2017 between Fincantieri, CSSC and Carnival Corporation for the construction of two cruise ships, with an option for additional four, at the Shanghai Waigaoqiao Shipbuilding (SWS) shipyard.

The group also signed a letter of intent with CSSC and the Shanghai City 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 (HRDD), the leading Chinese shipyard specialised in ship repair and refitting activities, aimed at serving the cruise ships based in China.

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