Fincantieri, CSSC Forge Shipbuilding Ties

Italian shipbuilding major Fincantieri and China State Shipbuilding Corporation (CSSC) have signed a Memorandum of Understanding for the extension of industrial cooperation to all segments of merchant shipbuilding.

Under the agreement, the duo is planning to expand cooperation beyond the cruise sector into the oil & gas industry; cruise-ferries; mega-yachts; special vessels; steel infrastructures; marine engineering and equipment procurement. The plan also covers the establishment of a supply chain in the cruise segment in China, according to a joint press release.

To this end, Fincantieri and CSSC will establish a joint working group, composed of 6 members with appropriate technical expertise, 3 selected by each side.

The group aims, by the end of the year, to conclude the preliminary activities: to define potential opportunities for each of the areas identified for the collaboration, to analyze the market size and to identify preferential sales channel, to analyze potential partnership among CSSC and Fincantieri group companies or its network of suppliers.

“This agreement is a further recognition of our decision to access to the great potential represented by China. Acting as a first mover for the shipbuilding, today we are able to create new opportunities for small and medium-sized companies of our supply chain, through the successfully consolidation of the relations with the major groups of the country in this sector, and, at the same time, to continue to do the same in the West, taking advantage of the cruise segment boom and maintaining the acquired leaderships,”  CEO of Fincantieri Giuseppe Bono said.

In February 2017 Fincantieri, CSSC and Carnival Corporation signed a contract 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. The Italian shipbuilder has also inked a deal  with Huarun Dadong Dockyard (HRDD) in the field of ship repair and conversions, aimed at serving the cruise ships based in China.