Elisa Anzolin News

The United States on Wednesday returned the Yemen-based Houthi rebels to a list of terrorist groups, while business chiefs warned that disruption to shipping in the Red Sea caused by their attacks could affect supply chains for months.Attacks by the Iran-allied Houthi militia on ships in the region since November have slowed trade between Asia and Europe and alarmed major powers - an escalation of Israel's more than three-month-old war with Palestinian Hamas militants in Gaza.The Houthis say they are acting in solidarity with Palestinians and have threatened to expand attacks to include U.S.

Italy's shipbuilder Fincantieri said on Friday it would return to net profit in 2025, focusing on its three core businesses of cruise, defense, and specialized offshore vessels. Under a five-year business plan, Fincantieri forecasts revenues of 8.8 billion euros ($9.38 billion) in 2025 and 9.8 billion euros in 2027 from 6.7 billion euros last year. The ratio between debt and profitability is seen declining to 2.5-3.5 in 2027, while the core profit will be around 8% of revenues.($1 = 0.9382 euros) (Reuters - Reporting by Elisa Anzolin, editing by Alvise Armellini)

When Chinese billionaire Jack Ma took a trip to Spain's Mallorca island last month, much was made of it being his first foreign foray since a 2020 fallout with regulators had clipped his wings.However, Ma's sunny sojourn on his newly-built 88-metre (289 ft) cruise boat Zen - estimated to be worth $200 million - also put a spotlight on a global trend: the return of the superyacht.As the number of billionaires grows and COVID-19 has added to incentives for avoiding crowds, the multi…

Italian shipbuilder Fincantieri and Spain's Navantia said on Tuesday they will sign a memorandum of understanding on Nov. 3 to strengthen their relationship and explore the benefits of a broadened collaboration in the naval and maritime field.The companies said in a statement they would assess future opportunities for Italian and Spanish navies, including "the participation in the development of future destroyers and other naval platforms that will be part of the future European Defence Force".(Reporting by Elisa Anzolin; editing by Agnieszka Flak)

Italian shipbuilder Fincantieri on Thursday reported a 27.3% rise in first-quarter core profit to 101 million euros ($122.06 million) and confirmed its guidance for the full year.Revenue stood at 1.43 billion euros, a 9.1% increase compared to the first quarter last year when production at the group's Italian shipyards was suspended in March due to a national lockdown to contain the spread of the coronavirus.The order intake stood at 300 million euros in the January-March period.Net debt rose to 1.62 billion euros from 1.06 billion euros at the end of December due to ship delivery deferrals ag

Rome and Paris agreed on Wednesday that a proposed combination of Italian shipbuilder Fincantieri and French rival Chantiers de l'Atlantique no longer made sense in the current economic environment.State-owned Fincantieri's bid to take over its French peer, also owned by the state, collapsed three years after it was announced, thwarted by competition issues and the COVID-19 crisis.The agreement is due to expire on Jan.

France has offered Italian shipbuilder Fincantieri's a one-month extension to its planned acquisition of French rival Chantiers de l'Atlantique, the finance ministry said in a statement sent to Reuters on Wednesday.State-controlled Fincantieri has accepted the proposal, a spokesman said.The agreement between France and Fincantieri was due to expire on Thursday, after repeated deadline extensions following competition concerns over the merger of two global leaders and the deal…

Italian shipbuilder Fincantieri's planned acquisition of state-controlled French rival Chantiers de l'Atlantique to create a European "Airbus of the Seas" is facing collapse barring last-minute political intervention from Paris or Rome.With the offer due to expire in two days after repeated deadline extensions over competition concerns, the deal is still awaiting European antitrust approval in a market that has been completely transformed by the coronavirus pandemic."There is no news on our side…

Fincantieri shares fell as much as 6.5% on Thursday on the prospect of a big capital increase by the Italian shipbuilder as it tries to cope with the coronavirus crisis which has hit its customers in the cruise industryBloomberg News reported late on Wednesday the state-owned firm, which has a market capitalization of about 1 billion euros, was considering a capital increase of up to 1.5 billion euros ($1.8 billion).A spokesman for Fincantieri said no decision had yet been taken on various options for ‘extraordinary transactions’ which were being evaluated.

Italy’s plan to create a European shipbuilding champion through Fincantieri’s bid for France’s Chantiers de l’Atlantique will be decided by the end of December, its chairman said on Monday, amid signs the deal is in trouble.Italy hopes the tie-up will help state-controlled Fincantieri, Europe’s biggest shipyard, better compete with rivals from Asia and elsewhere.Fincantieri, whose clients include Carnival Cruise Line, Holland America Line, P&O Cruises, MSC and Disney Cruise Line…

Italy's shipbuilder Fincantieri said on Thursday it had a consistent order backlog and did not get any cancellations from clients, despite a deep crisis of the cruise industry due to the coronavirus pandemic and global travel restrictions.Fincantieri said core earnings were down to 200 million euros ($235.98 million) in the first nine months of the year from 306 million euros last year but that its total order backlog at end-September was 36.8 billion euros."The cruise industry is gradually recovering...

Bulgaria is in talks with Lürssen to finalize in October a deal for the German shipyard to build two patrol ships for its navy for 984 million levs ($574.90 million), Defense Minister Krasimir Karakachanov said on Friday.The Black Sea country is looking to replace its three ageing Soviet-made patrol ships with the new vessels and improve its compliance with NATO standards."Both of the ships will be built in Bulgaria, which means that about 20% of the project's budget will stay here," Krakachanov said at the annual navy exercise off shore from the Black Sea city of Burgas.Bulgaria has previousl

Italy has yet to approve the sale to Egypt of two warships made by shipbuilder Fincantieri, as the government weighs political considerations and analyses the deal, Italy's foreign minister said on Wednesday.Rumors Rome had approved the sale raised criticism in Italy and members of the government have voiced concerns about Egypt's human rights record, especially after Italian student Giulio Regeni was tortured and murdered in Cairo in 2016.Answering questions during a parliamentary hearing…

Thyssenkrupp is exploring several strategic options for its warship unit, ranging from combining it with Italy’s Fincantieri to creating a national champion with German peers, a person familiar with the matter said.The talks are aimed at creating economies of scale for the division, Thyssenkrupp Marine Systems (TKMS), which builds submarines and surface ships and operates in a highly fragmented sector driven by political decisions, the source said.As part of the deliberations…

Seven days before Japan quarantined a cruise ship near Tokyo early this year, in what became one of the first coronavirus hot spots outside China, another cruise ship docked in southern Japan.For the next five weeks, as the virus took hold in Japan and the Diamond Princess in Yokohama port grabbed global attention, the Japanese authorities issued no warnings to the Costa Atlantica 1,200 km (750 miles) to the southwest.Passengers from the Yokohama ship were dying while people from the other vessel freely got on and off…

Ships and their crews must be able to trade freely with minimal port restrictions to ensure supply lines don't freeze up while the coronavirus shuts down much of the globe, shipping and port officials said on Tuesday.After draconian steps to stop the spread of the virus, China's economy is slowly coming back online but logistics chains are backing up in other parts of the world.This has been compounded by ships being quarantined for up to two weeks and seafarers held up as countries impose lockdowns to stop the spread of the virus.The International Chamber of Shipping (ICS) association…

Freight carriers are struggling to deliver goods by land, sea or air as the coronavirus pandemic forces Western governments to impose lockdowns, threatening supplies of vital products including medicines into the most affected areas, such as Italy.While China's draconian steps to stop the spread of the virus are now allowing its economy slowly to come back online, supply chains are backing up in other parts of the world.Problems ranging from finding enough truck drivers to restrictions on seafarers and a lack of air freight are hitting the smooth flow of goods…

Italian shipyard Fincantieri has not offered any concessions to head off EU antitrust concerns about its planned bid for France's Chantiers de l'Atlantique, giving regulators no choice but to block the deal, people familiar with the matter said on Friday.A veto by European Competition Commissioner Margrethe Vestager would deal a serious blow to Italy's bid to create a European industrial champion in shipbuilding to better compete with Asian rivals.Fincantieri declined to comment.

Fincantieri risks an EU antitrust veto against its bid for Chantiers de l'Atlantique because of the difficulty of addressing regulators' concerns, people familiar with the matter said, in what would be a setback to Italy's industrial ambitions.Italy sees the deal by Europe's largest shipyard as an opportunity to create a European industrial champion in the shipbuilding industry to stave off competition from Asia and other regions.EU antitrust enforcers however are concerned that…

Italian motor yacht maker Sanlorenzo aims to list on the Milan Stock Exchange at about the same time as the rival Ferretti Group, with an initial public offering (IPO) expected to be launched as early as the second half of October, two people familiar with the matter said on Wednesday.The group is controlled by Italian entrepreneur Massimo Perotti through a family holding which bought back shares from third party investors in the recent years.The group plans to issue a mix of existing and new shares, targeting a free float of about 35%, one of the sources added.Sanlorenzo has picked Unicredit, Banca Imi and Bofa Merrill Lynch as global coordinators for its IPO.

Italian shipbuilding group Fincantieri and engineering group MERMEC have presented a joint offer for technology group Vitrociset, a source close to the matter said on Tuesday, adding that a potential deal could be struck in the near term.News of the offer for Vitrociset, which provides products, systems and services for the defence, security, space and transport markets, were first reported by financial daily Il Sole 24 Ore.No financial details of the deal were known.The three companies declined to comment.(Reporting by Elisa Anzolin, writing by Agnieszka Flak, editing by Paola Arosio)

Italian shipbuilding and construction group Fincantieri SpA is the only bidder for shipping group STX France, a source close to the matter said on Tuesday. The sale of STX France, which specialises in building cruise ships in the western France city of Saint-Nazaire and is profitable, forms part of the broader sale of businesses from the collapsed STX shipbuilding group. A spokesman for a Korean court overseeing the process had said earlier on Tuesday that one bid had been received for the STX France business, without giving a name. A spokesman for the Seoul court overseeing STX Offshore's receivership had said in November that four parties had expressed interest in buying one or both of South Korea's STX Offshore & Shipbuilding Co Ltd and a controlling stake in STX France.

French naval shipbuilder DCNS and Italian rival Fincantieri are in discussions about creating a joint venture, latribune.fr website reported on Friday. The two companies agreed this summer to come up with a roadmap to determine projects on which they could cooperate, a source close to the matter told Reuters. According to latribune.fr, the talks cover programs such as the Multi-Mission Frigate (FREMM), research and development on future combat systems, equipment and marketing. State-backed DCNS is also 35 percent owned by French defence company Thales. The submarine and warship manufacturer posted a loss of 336 million euros ($379 million) in 2014 on sales of 3 billion euros.