Fincantieri in Talks to Buy Leonardo's Submarine Unit Wass
Italian shipbuilder Fincantieri is in talks with Leonardo to buy the defense group's submarine unit Whitehead Alenia Sistemi Subacquei (Wass), several newspapers reported on Wednesday.Spokespersons for Fincantieri and Leonardo both declined to comment.The acquisition would have a value of between 200 and 300 million euros ($217-$326 million), Corriere della Sera and financial daily Il Sole 24 Ore reported.The move by Fincantieri would be part of the group's broader strategy to grow non-organically and focus more on the defence sector…
Fincantieri Joins MIT Industrial Liaison Program
Fincantieri joined the Industrial Liaison Program (ILP) of the Massachusetts Institute of Technology (MIT), a collaboration that is part of the route towards the implementation of the 2023-2027 Industrial Plan.MIT's Industrial Liaison Program is a program based on the membership of large organizations interested in long-term strategic relationships with the Massachusetts Institute of Technology.The agreement will become part of Fincantieri's commitment to innovate and be at the forefront in the development of new technologies on strategic issues…
Serco Joins VARD's Team Vigilance for Canadian Navy Build
Serco has signed on a team assembled by Vard Marine Inc. to replace the Royal Canadian Navy’s (RCN) Kingston Class Maritime Coastal Defense Vessels (MCDV) under Pillar Two of Canada’s National Shipbuilding Strategy.Vard Marine, a Fincantieri company, launched VIGILANCE in 2023 to "provide the RCN with a state-of-the-art, capable, operationally flexible, and globally deployable multi-mission naval vessel" that is designed, built and equipped in Canada.Other Team Vigilance partner companies include Ontario Shipyards…
Pearlson to Upgrade Shiplift at Australia's Osborne Naval Shipyard
Pearlson Shiplift Corporation, a subsidiary of The Pearlson Group, announced it has been awarded a multimillion-dollar contract to deliver a large capacity upgrade and extension for Australian Naval Infrastructure (ANI) in Osborne, South Australia.The works will be installed by McConnell Dowell, one of the largest construction companies in the region. Once completed later this year, Pearlson Shiplift Corporation will recommission ANI’s shiplift system as the largest in the Southern Hemisphere.“We are honored to be awarded this project - the largest in the region.
Fincantieri and EDGE to Launch JV for Naval Vessels Construction
EDGE Group, a United Arab Emirates-based advanced technology and defense group, and Fincantieri, one of the largest shipbuilders in the world, have entered into a term sheet aimed at creating a joint venture (JV) that will focus on the manufacturing of a broad range of sophisticated naval vessels.EDGE will hold a 51% stake in the venture, which has a commercial pipeline valued at approximately $32.4 billion (€30 billion), with management direction provided by Fincantieri.The Abu Dhabi-based JV will be awarded prime rights to non-NATO orders…
Vard to Build Cyan Renewables’ SOV for Taiwan’s Offshore Wind Farms
Vard, a Norwegian subsidiary of the Fincantieri Group, has signed a contract for the design and construction of a hybrid power service operation vessel (SOV) for the Taiwanese company Cyan Renewables.The news comes after Siemens Gamesa awarded a 15-year charter contract to Cyan Renewables for the SOV that will enter service at Hai Long 2, part of the Hai Long Offshore Wind Project, consisting of Hai Long 2 and 3 offshore wind farms in Taiwan.Siemens Gamesa Selects Contractor for…
Fincantieri Delivers Cruise Ship Sun Princess
Italian shipbuilding group Fincantieri announced it has delivered Sun Princess, the first in a series of two new liquefied natural gas (LNG ) fueled cruise ships for Princess Cruises.At about 178,000 gross tons, Sun Princess is the largest ship ever built in Italy, as well as the first LNG cruise ship ever built by Fincantieri, the shipbuilder said. The ship is also the first dual-fuel vessel powered primarily by LNG to enter the Princess fleet.Sun Princess is the first in Princess Cruises’ Sphere class. Its sister-ship is scheduled to be delivered in 2025.
US Navy Awards Maintenance Contracts
The Pentagon last Friday announced that nine companies have been awarded contracts for repair, maintenance and modernization of U.S. Navy’s non-nuclear surface ships homeported or visiting the Northwest United States.The total value of the multiple award contract is a combined $944 million. The scope of work is for continuous maintenance, emergent maintenance, and Chief of Naval Operations availabilities, which are short-term or less than 10-months in duration.The nine companies are East Coast Repair & Fabrication…
Seaside LNG Performs US Gulf Coast's First Ship-to-ship LNG Bunkering
Seaside LNG announced its liquefied natural gas (LNG) bunkering barge Clean Jacksonville delivered fuel to Carnival cruise ship Carnival Jubilee in Galveston, Texas, marking the first ship-to-ship LNG bunkering delivery along the U.S. Gulf Coast.The bunkering operation took place on December 30, 2023, after months of careful coordination with all parties involved, including the Port of Galveston, Seaside LNG said.The 2,200 cubic meter bunkering barge Clean Jacksonville, previously stationed in Florida…
Brunvoll to Deliver Propulsion System for Toyo’s Hybrid Cable Layer
Brunvoll has signed a contract with Vard for the delivery of propulsion and maneuvering system for Toyo Construction’s new cable laying vessel.Toyo Construction’s new vessel will have three azimuth propulsion thrusters in the aft of the vessel. The foreship of the vessel will have two tunnel thrusters and a retractable azimuth thruster.Furthermore, the vessel will feature Brunvoll’s control system for propulsion and maneuvering, BruCon PTC.In December 2023, Vard, a Norwegian subsidiary of the Fincantieri Group…
"Green" Loan Secured for Low-Emission Cruise Ship
Fincantieri signed a "green" construction loan for a maximum amount of $461m with Intesa Sanpaolo (IMI Corporate & Investment Banking Division) and Cassa Depositi e Prestiti (CDP), the proceeds of which will be used to cover the financial needs linked to the construction of the Mein Schiff Relax, the first of two newly designed dual-fuel inTUItion class cruise ships (Liquid Natural Gas - LNG and Marine Gas Oil - MGO) that Fincantieri is building for TUI Cruises, a joint venture between the TUI AG and Royal Caribbean Cruises.
All Clear for Fincantieri’s Acquisition of Remazel Engineering
Advanced Technology Industrial Group, a company controlled by Alpha Private Equity, has reached an agreement for the sale of 100% of Remazel Engineering to Italian shipbuilding giant Fincantieri.The anticipated completion of the transaction, expected in the first quarter of 2024, will result in Remazel becoming part of Fincantieri.The integration will combine Remazel's engineering and technological expertise in the offshore energy sector with Fincantieri's strategic vision, propelling the Italian shipbuilder's advancements in the realm of energy transition…
Fincantieri Lands $250M Order from Prysmian for New Cable-Laying Vessel
Vard, a Norwegian subsidiary of the Fincantieri Group, has signed a contract for the design and construction of a cable-laying vessel for Prysmian Group valued at $250 million.This is the third cable-laying vessel Vard is building for Prysmian Group after vessels Monna Lisa, currently under construction, and Leonardo da Vinci, which was delivered in 2021.According to the companies, the new unit will consolidate the widest fleet in the industry.The cable-laying vessel will be an evolution of the Monna Lisa class.
China’s First Domestically Built Cruise Ship Delivered
The first large cruise ship ever to be built in China has been delivered, potentially leading the way for a new market player to rise within the global cruise shipbuilding industry.The 5,246-passenger Adora Magic City, built by China State Shipbuilding Corporation’s (CSSC) Shanghai Waigaoqiao Shipbuilding (SWS) based on Fincantieri' Vista-class design, will commence its maiden voyage from Shanghai in January 2024, operated by Asian cruise line Adora Cruises.The Chinese-built ship will service the domestic market with four-to-five day sailings…
What Do MARAD Title XI Changes Mean for Offshore Wind?
The U.S. Maritime Administration (MARAD) has recently announced an amendment to the Federal Ship Financing Program, commonly referred to as Title XI. The amendments have aligned the program’s financial requirements and tests with common current federal credit and maritime lending best practices. In particular, the amendments aim to move away from inflexible static metrics and Title XI’s limited amortization requirements. The amendments respond to concerns that previous terms acted as a barrier to some companies seeking to apply for Title XI support.
Fincantieri Cuts Steel for Italian Navy's New Oceanographic Ship
Italian shipbuilding group Fincantieri held a steel cutting ceremony to mark the start of construction on a new Hydro-Oceanographic Ship (N.I.O.M.) for the Italian Navy.Scheduled for delivery from the integrated shipyard in Riva Trigoso-Muggiano in 2026, the new vessel is intended for mapping and scientific monitoring activities, as well as in support of the initiatives of the Hydrographic Institute, took place today at the Riva Trigoso shipyard.The ship will feature technologies to contain emissions…
Vard inks Deal on $200m Hybrid Cable Layer
Vard, the Norwegian subsidiary of the Fincantieri Group, signed a contract for $200m to design and build a customized hybrid cable-laying vessel for Japan's Toyo Construction.The hybrid cable vessel will have a design specifically developed for custom needs to meet the growing Japanese offshore wind farm market and will also be able to operate worldwide. It will have an optimal hull design to suit natural and construction conditions in Japan, allowing it to be used in both shallow…
Fincantieri Marinette Marine Dedicates New Blast and Paint Facility
Fincantieri Marinette Marine dedicated its new blast and paint facility in Marinette, Wis. on December 5, 2023.Fincantieri CEO Pierroberto Folgiero and Wisconsin Governor Tony Evers were present to help cut the ribbon on the new facility where shipbuilders will efficiently prepare and paint large portions of Constellation-class frigates prior to final construction. Fincantieri Marinette Marine is on contract to build the lead ship and three additional vessels, with additional options for six more frigates.The 25,000 sq.ft.
Viking Vela Floated Out
Viking Vela, the first of a new series of cruise ships that Fincantieri is building for the shipowner Viking, has been floated out at the shipyard in Ancona. The delivery is scheduled for late 2024.The vessel will be placed in the small cruise ship segment. She will have a gross tonnage of about 54,300 tons, will be equipped with 499 cabins and will be able to accommodate 998 passengers on board.Viking Vela will spend its inaugural season sailing voyages in the Mediterranean and in Northern Europe.“Together with Fincantieri…
Fincantieri Set to Grow Its Shipbuilding Footprint in Ancona
Fincantieri announced on Monday it has reached a deal that will allow it to expand its shipbuilding footprint in the port of Ancona.The Italian shipbuilding company said it has signed a program agreement with the Port System Authority of the Central Adriatic Sea (ADSP) to develop the port’s current infrastructure, including construction piers, dry dock, technological and lifting facilities, for the construction of ships of greater size and tonnage, both in the cruise and merchant sector.The value of the investment is €80 million…
LNG Bunker Barge Clean Everglades Christened
Sturgeon Bay, Wis. shipbuilder Fincantieri Bay Shipbuilding (FBS) held a christening ceremony for recently constructed liquefied natural gas (LNG) bunker barge Clean Everglades.The vessel is the sister ship to the LNG barge, Clean Canaveral, which was delivered by FBS two years ago and has made more than 65 successful LNG bunker deliveries. Similar in design and appearance, the articulated tug barge (ATB) will hold 5,500 cubic meters of LNG.“The previous FBS-built LNG barge was delivered on schedule during the global pandemic…
Vard Accommodation Changes Name. Wins Service Operation Vessel HVAC-R Contract
Vard Accommodation said Wednesday it had changed its name to Vard Interiors. The company also said it had secured a new contract with Fincantieri Bay Shipbuilding."Vard Accommodation is changing its name to Vard Interiors to show more clearly the full range of products within the company, covering the full interior of the ship—decoration, furniture, piping, and HVAC-R," the company said."With the new name Vard Interiors, we strengthen our position as a deliverer of the complete interior of the ship…
"Made in Sicily": $126M RoPax Ferry Ordered
A new ferry, fully owned by the Sicilian Region and entirely "Made in Sicily", will carry out the connection service with Lampedusa and Pantelleria. The President of the Sicilian Region Renato Schifani and the CEO and General Director of Fincantieri Pierroberto Folgiero signed the contract for the construction of a new ferry (Ropax Class A), for a price of almost $126m.“The signing of this contract represents a turning point for connections with the smaller islands of Sicily," said Schifani.