Fincantieri extends the cooperation with China
The agreement with the state-owned giant firm CSSC is expanded to all segments of merchant shipbuilding
Fincantieri and China State Shipbuilding Corporation (CSSC), have signed in Beijing - at the presence of Italian Minister of Economy and Finance Giovanni Tria, CEO of Cassa Depositi e Prestiti Fabrizio Palermo, CEO of Fincantieri Giuseppe Bono and Chairman of CSSC Lei Fanpei - a Memorandum of Understanding for the extension of the industrial cooperation already existing between the two groups to all segments of merchant shipbuilding.
In February 2017 Fincantieri, CSSC and Carnival Corporation signed a binding agreement 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 (LOI) with CSSC and the Shanghai City’s 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 specialized in ship repair and refitting activities, aimed at serving the cruise ships based in China.
The new agreement foresees the parties to discuss the possibility to extend their current collaboration, which counts a joint venture dedicated to the first cruise ships ever built in China for the local market and other related activities, including a number of research and development projects in several areas of the shipbuilding: vessels for oil & gas industry; cruise-ferries; mega-yachts; special vessels; steel infrastructures; 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. The parties may consider additional cooperation and therefore extend the scope of the agreement to other areas.
Fincantieri and CSSC will establish a joint working group of 6 members (3 selected by each side) with technical expertise to conclude by end 2018 preliminary activities to define potential opportunities for each area identified for collaboration, to analyse the market size, to identify preferential sales channel, to analyse potential partnership among CSSC and Fincantieri companies or its network of suppliers.