Fincantieri has signed two memorandum of understandings (MoU) with Carnival Corporation and a subsidiary of China State Shipbuilding Corporation (CSSC) to explore the potential for joint ventures (JV) in cruise ship building in the Chinese market.
In October, Carnival Corporation signed an MoU with CSSC to form a (JV) to build cruise ships in China.
The proposed JV will be a three-way collaborative effort to construct the first-ever cruise ships to be made in China.
Under these agreements, Fincantieri will work with CSSC to increase cruise ship production capacity in China by offering specialised services and components to the company’s shipyards.
Meanwhile, Carnival will provide its expertise to create the vision, definition, and specifications for the China-built cruise ships.
Fincantieri CEO Giuseppe Bono said: "New international scenarios are emerging and with them new challenges arise in addition to existing ones and we are glad to contribute together with Carnival to develop the cruise shipbuilding capacity in China for the Chinese market."
China aims to become the second-largest cruise market after the US, exploiting current economic growth and the rising level of income.
According to estimates, the growing Chinese cruise ship industry is expected to serve 4.5 million passengers by 2020.
Under the previous MoU signed with CSSC, Carnival will develop additional JV venture opportunities for a domestic cruise company, port development, talent development and training, as well as supply chain and logistics.
Image: Carnival decided to expand its Chinese market with the addition of Costa Serena in 2015. Photo: courtesy of Carnival Corporation.