Carnival Announces Four Ship Deal with Fincantieri

Wednesday, December 14, 2005
Carnival Corporation & plc announced it has reached an agreement with Italian shipbuilder Fincantieri for the construction of four new cruise ships worth more than $2 billion. The agreement calls for the construction of four new vessels, one each for Holland America Line, Carnival Cruise Lines, Princess Cruises and Costa Crociere, along with options for two additional vessels, one each for Carnival Cruise Lines and Holland America Line. The four new ships will add a collective 11,756 lower berths to the cruise operator’s fleet. Two of the orders have been placed in U.S. dollars and two others are in euros. According to Carnival Corporation & plc Chairman and CEO Micky Arison, the agreement extends Carnival Corporation & plc’s newbuilding program through 2009 while enabling the company to execute its strategy of expanding its North American and European brands. “Fincantieri constructs some of the world’s most beautiful and technically advanced ships and this agreement enables us to expand our core North American and European brands at very competitive prices considering today’s unfavorable U.S. dollar/euro ratio,” he said. The new ships and options include: A 2,044-passenger ship which will be the largest ever constructed for North American premium operator Holland America Line. With an estimated all-in cost of $450 million, the 86,000-ton Panamax vessel will be built at Fincantieri’s Marghera shipyard. The ship is expected to enter service in summer 2008. There is also an option for a sister ship scheduled to debut in spring 2010. A 3,100-passenger ship for North American premium brand Princess Cruises set to debut in fall 2008. A sister to the Emerald Princess, the 116,000-ton vessel will be built at Fincantieri’s Monfalcone shipyard at an approximate all-in cost of $570 million. A 3,608-passenger cruise ship for Carnival Cruise Lines representing the largest vessel ever constructed for the contemporary North American operator. The 130,000-ton vessel, to be built at Fincantieri’s Monfalcone shipyard at an estimated all-in cost of €560 million, is expected to enter service in fall 2009. There is also an option for a sister ship scheduled to enter service in summer 2010. A 3,004-passenger ship for Genoa, Italy-based Costa Crociere expected to debut in summer 2009. A sister ship to the Costa Concordia, the 112,000-ton vessel will have an estimated all-in cost of €485 million and will be built at Fincantieri’s Sestri shipyard. Including the four new vessels, Carnival Corporation & plc’s capacity growth for 2008 and 2009 is now expected to be 8.2 percent and 6.4 percent, respectively. The company’s order book now includes 16 new ships, 13 of which are being constructed by Fincantieri. Commented Fincantieri Chief Executive Officer Giuseppe Bono, “This agreement further demonstrates the excellent working relationship that exists between industry leaders Carnival Corporation & plc and Fincantieri. Carnival Corporation & plc operates some of the world’s most successful and recognizable cruise brands and we are delighted that the company has entrusted Fincantieri with nearly all of its newbuilding projects.” Carnival Corporation & plc is the largest cruise vacation group in the world, with a portfolio of 12 cruise brands in North America, Europe and Australia, comprised of Carnival Cruise Lines, Holland America Line, Princess Cruises, Seabourn Cruise Line, Windstar Cruises, AIDA Cruises, Costa Cruises, Cunard Line, Ocean Village, P&O Cruises, Swan Hellenic, and P&O Cruises Australia.

Cruise Ship Trends

Lucas Marine, Harbor Breeze Cruises Partner to Cut Fuel Costs

Lucas Marine is partnering with Harbor Breeze Corporation to help reduce the yacht charter and cruise company's fuel costs, maintenance and environmental impact in Los Angeles and Long Beach Harbors.

Pods Versus Water Lubricated Props

Thordon Bearings has called on the marine industry to investigate the characteristics of both conventional seawater-lubricated propeller shaft systems and podded

Grand Bahama Shipyard Adds Four Executives

Grand Bahama Shipyard Limited (GBSL), a Caribbean shipyard providing retrofit, refurbishment and revitalization to cruise and commercial vessels, has added four

Maritime Security

Philippines: Sea Dispute Won't Shift Ties with China, U.S.

The Philippines' territorial dispute with China over the South China Sea has not caused Manila to rebalance diplomatic ties with either its ally, the United States,

USCG Evaluates Comms Equipment in Alaska

Coast Guard Research and Development Center evaluates state-of-the-art communications equipment and Next Generation Incident Command System in Alaska   At nearly 663,

TSA Boosts Maritime Security in a Big Way

Though most visible to the general public for its work at America’s airports, the U.S. Transportation Security Administration (TSA) also helps to secure the country’s

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Standards Naval Architecture Navigation Offshore Oil Ship Electronics Ship Repair Ship Simulators Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.0727 sec (14 req/sec)