Fincantieri launched itself on the Chinese market by signing two memorandums of understanding, with Carnival and with China CSSC Holdings Limited, subsidiary of China State Shipbuilding Corporation. These agreements aim to examine the possibility of creating a joint venture in shipbuilding in the cruise sector for the Chinese market. The news helped Fincantieri's listing on Piazza Affari, which at 10,10 was up 1,15%.
The CEO of Fincantieri Giuseppe Bono announced that the two signed agreements underline the group's willingness to “pursue a strategy that affirms Fincantieri more and more like a global player and a reference in the sector, with a strong presence in all those markets that ensure a future for our business. In fact – continued the CEO of Fincantieri – new international scenarios are emerging, and with them new challenges are added to those of the present, and we are happy to contribute together with Carnival to the development of China's shipbuilding capacity for the Chinese market”.
According to a press release, Fincantieri "will work with CSSC to develop China's shipbuilding capacity in the cruise sector". As for the collaboration with Carnival, however, the press release specifies that the same "will help create a vision, definition and specifications for the ships that will be built in China".
The agreement should be read above all in a long-term perspective given that the note reads that the Chinese Ministry of Transport (MOT) expects that China will be the second largest cruise market in the world after the United States in the next few years, on the impetus of economic growth, the increase in purchasing power of Chinese consumers and domestic demand in this sector.
