Fincantieri About to Seal Deal on Chinese Cruise Ships

Italian shipbuilder Fincantieri has been linked to a binding deal on construction of cruise ships for the Chinese market, Bloomberg reports citing undisclosed sources familiar with the matter.

News ID: 72544

Date: 22 February 2017 - 10:15

The contract is said to be part of a series of deals between Italy and China to be announced during this week’s visit of the Italian President Sergio Mattarella to China, MANA correspondent reported.

Under the terms of the deal in question, Fincantieri and its Chinese counterpart China State Shipbuilding Corp. would partner up with cruise ship giant Carnival Corporation and CIC Capital Corporation (CIC Capital).

The reported deal builds upon the non-binding agreement the two shipbuilders signed in September 2016 with Carnival and CIC Capital for the construction of the first two cruise ships to be built in China for the Chinese market, with an option for two more ships.

Fincantieri and China’s shipbuilding conglomerate CSSC decided to form a joint venture aimed at developing and supporting the growth of the Chinese cruise industry in July, 2016.

Under the agreement, the joint venture will design and sell cruise ships intended and customized for the Chinese and Asian markets.