Fincantieri: No Canceled Shipbuilding Orders to Date

Maritime Activity Reports, Inc.

May 26, 2020

File photo: Fincantieri

File photo: Fincantieri

The coronavirus pandemic has not caused Italian shipbuilding giant Fincantieri to lose any of its existing orders, CEO Giuseppe Bono told a Senate defense committee.

While the company has not received any order cancellations to date, the company—one of the world's top cruise ship builders—said in its first quarter report that it is in talks with clients and subcontractors to discuss potentially stretching out order delivery times for vessels currently under construction and on order.

Fincantieri is also reportedly planning to boost naval vessel orders to help offset any delayed deliveries for cruise ship customers hard hit by the COVID-19 pandemic.

As of May 14, the group reports its total backlog is worth 31.9 billion euros ($35 billion) and includes 92 ships of various types due for delivery from its 20 shipyards around the world.

Fincantieri's first quarter production volumes sunk 20% due to coronavirus-related production pauses at all Italian shipyards and production plants in March and April. The shipbuilder has gradually resumed operations from mid-April.

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