Risk Breakers: Giuseppe Bono CEO, Fincantieri

By Matteo Bianchi
Wednesday, March 13, 2013
(Photo: Fincantieri)

Risk is ubiquitous on the waterfront, and the effective identification, mitigation and management of that risk is critical to long-term success. Maritime Professional delivers insights from four acknowledged industry leaders from four distinct sectors and geographic regions as to the secret of their success.

RISK? Giuseppe Bono, CEO Fincantieri, knows a thing or two about risk. He’s at the head of what is arguably Europe’s largest, most diverse, progressive and aggressive ship construction entities, Fincantieri - Cantieri Navali Italiani S.p.A. Mr. Bono has his hands full combating lower-cost competition from the East, delicately balancing the convergence of a bad world economy, a worse Italian economy, a publicly owned shipyard with a new government coming, and increasing efficiencies while keeping the unions happy. Risk? Mr. Bono lives risk every day, yet still continues to win the lion’s share of global shipbuilding contracts. Matteo Bianchi, Maritime Professional correspondent in Italy, recently discussed with Mr. Bono the way ahead.

Eng. Bono, the year behind us was difficult for the shipbuilding industry worldwide, and for the Italian economy in particular. How do you consider Fincantieri’s 2012?
2012 has been an extremely difficult year, especially for shipbuilding. Total global investments have been little more than a quarter of those in 2007, resulting in a halving of the number of cruise ship orders. We’ve done our part by securing almost all of these orders and confirming the dual challenge we set ourselves: on the one hand, to focus on sectors that offer good opportunities for development, and on the other, to maintain our leadership in our traditional sectors.

2013 will be a year of change; Italy will have a new government, Fincantieri will have to conclude negotiations with the Unions ... What are you expecting for this year?
We have done our part, and we hope that the institutions responsible for supporting exports will continue to sustain those in this strategic industry for the national economy. We also hope that the unions and workers feel confident about the future by giving their utmost commitment to making our company ever more competitive. Without this determination, the results achieved this year, namely acquisition of basically all the new prototype cruise ships projects in 2012, will be hard to maintain.

Also with a strong determination this result will be hard to maintain, as the economy is still in downturn.
Since 1990, Fincantieri has been a world leader in the cruise ship sector; we have delivered 63 cruise ships. Another seven ships are being built or will be built between now and 2016 in the group’s shipyards. In addition to the ships under construction, Fincantieri has recently reached two important agreements: with the US group Carnival Corporation for the construction of two cruise ships for the Holland America Line and Carnival Cruise Lines, and with Viking Ocean Cruises for another two cruise ships. These results confirm Fincantieri’s world leadership in the cruise ship sector, even at a time of slowing demand.

Exactly one year has passed since Costa Concordia sunk off of Giglio Island. How is the relationship between Fincantieri and the largest cruise shipping company Carnival Corporation at the moment?
Carnival, and Costa Cruises in particular, remain for us and for the country, exceptional and indispensable investors. Out of 63 ships delivered 52 were for different brands in Carnival Group, 13 for Princess Cruises; Costa Diadema will be the 10th Costa ship built by Fincantieri in Italy since 2000, with a total investment worth almost 5 billion euros. We hope that this order is a strong signal for an upturn by a strategic sector for the country’s economy and the industry as a whole. Fincantieri, even in a difficult moment as today, is resolutely continuing its commitment in a particularly depressed market in order to gain whatever orders there might be, thus holding on to its position as world leader.

What does the purchase of STX OSV mean for Fincantieri?
This transaction is a source of pride for all Fincantieri’s employees and business partners. It marks the beginning of a new era for Fincantieri. The acquisition of STX OSV will further enhance our position as a leading international competitor. It will strengthen Fincantieri’s commitment to pursuing a strategy of diversification and development in order to retain our long-term competitiveness and generate important positive impacts for our Italian assets. I’m sure this is the right way forward to optimize our global leadership position in the high value-added end of the shipbuilding industry and to establish ourselves as champions of the Western world.

(As published in the 1Q edition of Maritime Professional - www.maritimeprofessional.com)


 

Maritime Reporter June 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Shipbuilding

ISS Inks Service Pact with Technip

Inchcape Shipping Services (ISS) and Techniphave signed a contract to provide marine agency services and logistics for the Rashid C project in the Middle East. Currently

ST Marine Launches First LMV for RSN

Singapore Technologies Marine Ltd (ST Marine), the marine arm of Singapore Technologies Engineering Ltd (ST Engineering), held the Launching ceremony for the first

Shipping Gloomiest Since 2009

The shipping industry is the most pessimistic in six years about its prospects as a fleet surplus persists, according to a survey by law firm Norton Rose Fulbright, says a report in Reuters.

Cruise Ship Trends

Silversea Cruises Plans New Flagship

Cruise operator Silversea Cruises has unveiled its new flagship, the Silver Muse, which will begin sailing the seas in April 2017.    Built by Italian shipbuilding company Fincantieri,

Silversea Cruises Orders Luxury Ship from Fincantieri

Shipbuilder Fincantieri has received an order to build a new luxury cruise ship for client Silversea Cruises due for delivery in April 2017.    At 40,700 grt and accommodating 596 guests,

Confidence Low in Shipping Idustry

Confidence levels in the global shipping market have fallen to a seven-year low as a glut of cargo ships, weak freight rates and excess liquidity continue to batter the industry,

People in the News

Four Rescued From Burning Boat in Lake Michigan

The Coast Guard and a good Samaritan rescued 4 people after their 20-foot boat caught fire on the Grand River, Sunday. A boat crew from Coast Guard Station

Aberdeen Pupils Peek into Subsea Oil & Gas Technology

Pupils at an Aberdeen primary school were given a rare insight into the depths of the oil and gas industry’s subsea sector after getting to sit in the driving

Search for Missing after Philippine Ferry Sinks, 38 dead

Divers will search waters in the central Philippines on Friday for 15 people still missing after a ferry carrying 187 passengers and crew sank a day earlier,

 
 
Maritime Contracts Maritime Security Maritime Standards Naval Architecture Offshore Oil Pod Propulsion Port Authority Salvage Sonar 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: 0.2535 sec (4 req/sec)