Fincantieri, CSSC Ink Chinese Cruise Ship Deal

During the 11th annual “China Cruise Shipping and International Cruise Expo”, which started today in Tianjin, Fincantieri and China State Shipbuilding Corporation (CSSC), signed a non-binding agreement with Carnival Corporation and CIC Capital Corporation (CIC Capital) for the construction of the first new cruise ships to be built in China for the Chinese market. The understanding is subject to several conditions, including the closing of the joint venture and the financing.

As envisaged by the agreement, the joint venture being set up between Fincantieri and CSSC will act as prime contractor for the construction of two new cruise ships to be built at the Shanghai Waigaoqiao Shipbuilding (SWS), yard of CSSC Group, ordered by the joint venture of which Carnival Corporation, CSSC, and CIC Capital will be part of, with an option for two additional ships.

The new ships will be based on the Vista-class platform, ships built by Fincantieri for the Carnival Group, and the design will be tailored for the specific tastes of the Chinese travelers and for the new Chinese cruise brand of the joint venture between Carnival, CSSC and CIC Capital, which will also operate the units. The first delivery is expected in 2022.

The agreement signed today follows the one of last July between Fincantieri and CSSC for the constitution of a joint venture aimed at developing and supporting the growth of the Chinese cruise industry.