Fincantieri Group News

Norwegian shipbuilder Vard, a subsidiary of the Fincantieri Group, has presented the next generation of military vessels - the VARD Resilience series.To answer the Norwegian Navy’s demands for the new vessels, VARD has developed VARD Resilience series with a design that meets the request for standardization, modularization, adaptation to the customer's needs and purpose of the vessel.According to Vard, the Resielince series has been designed with a long service life in mind.“One…

Norwegian shipbuilder Vard, a subsidiary of the Fincantieri Group, has appointed Cathrine Kristiseter Marti as its new Chief Executive Officer (CEO).Starting from June 1, 2024, Marti will take over from the current CEO, Alberto Maestrini, who will remain in his position as Chairman of the Board.Maestrini will continue to lead the Offshore and Special Vessels business in Fincantieri and through this continue to support Vard’s integration in the Fincantieri Group.The appointment…

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…

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…

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.

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…

Italian power cable making and installation group Prysmian Group has chosen the name Monna Lisa for the new 171-meter cable-laying vessel that is currently under construction in Romania. The vessel is the sister ship to Prysmian's Leonardo da Vinci cable layer."The name of the new ship has been chosen through an internal survey conducted among all 30,000 employees, similar to the process followed to name the Leonardo da Vinci. As a result, Prysmian chose Monna Lisa, which perfectly incorporates the strong connection with the sister vessel named after the Italian Renaissance artist…

VARD, a Norwegian shipbuilding subsidiary of Italy's Fincantieri Group, announced Arnt Inge Gjerde has been appointed as the new yard director at Vard Brattvaag. Gjerde is also yard director at the nearby Vard Søviknes and is now leading both shipyards."We are very pleased that Arnt Inge has taken on the responsibility for the two yards in Sunnmøre. We know him as a solid leader with great credibility both among our employees and customers and we look forward to further developing our yards…

As the move toward advanced remote and autonomous operation of vessels proceeds at speed, Vard Electro introduced SeaQ Remote to facilitate a new generation of larger robotic vessels.The new product, which will see its debut delivery on a total of 14 newbuild marine robotic vessels contracted with shipbuilder VARD, is designed to unify the SeaQ suite of automation systems into a single user interface with the full range of remote functionality from shore.“We are now investing heavily in autonomous technology and digitalization…

Fincantieri, through its subsidiary E-phors, specialized in providing cybersecurity services and products, has recently provided a training course in partnership with the Italian Shipping Academy, aimed at introducing deck officers to the basics of cybersecurity.The three-day training course is part of the Academy’s project – funded by the European Commission “Common Maritime Education Standards in the West Mediterranean” – and  it has also been carried out thanks to the cooperation of Cetena (study center in the maritime field)…

Working with Italian partner Westeam Srl, Scanjet PSM has secured a floating dock refit project with the Fincantieri Group, one of the world’s largest shipbuilding groups with 20 shipyards across Europe, the Americas and Asia.Requiring very short delivery lead times, the companies were tasked to refit a ballast level gauging system for a floating dock in La Spezia. With a lifting power of 40,000 tons and with 32 ballast/double bottoms, the floating dock had been re-floated after…

Italian based international shipbuilding group Fincantieri said it has signed a memorandum of understanding (MoU) with Indian shipbuilder Cochin Shipyard Limited (CSL) to jointly target opportunities in the Indian defense market.With this agreement, Fincantieri said it enhances its presence in India, providing further momentum to the long-standing partnership with the governmental group CSL, which owns facilities both on the East and West coast of India.Fincantieri also noted it has been following the renewal and expansion program of the Indian Navy’s fleet for some time…

Italian shipbuilder Fincantieri has posted higher earnings in the first nine months, but said the result was hit by losses at its Vard unit. Revenues increased by 9.7% at euro 4,254 million (euro 3,878 million at 30 September 2018).Fincantieri reported a positive performance of the Shipbuilding segment (+30.2% compared to 30 September 2018 despite the negative impact of Vard cruise projects) and was affected by the negative margin of the Offshore and Specialized Vessels segment.Positive operating performance at Group level, improving in all areas, but limited by the negative results of Vard, which is undergoing a reorganization process aiming at improving its management trend.Giuseppe Bono…

The European Commission has agreed to the request submitted by France and Germany asking it to look at Fincantieri's proposed acquisition of Chantiers de l'Atlantique in the light of the EU Merger Regulation.The Commission considers that the transaction could harm competition at European and global level.The proposed acquisition of Chantiers de l'Atlantique by Fincantieri does not reach the turnover thresholds set by the EU Merger Regulation for transactions notifiable to the European Commission because of their European dimension. However, the plan was notified for authorisation in France and Germany.France submitted a referral request pursuant to Article 22(1) of the EU Merger Regulation.

Shipbuilding giants Fincantieri and China State Shipbuilding Corporation (CSSC) have agreed to extend an existing cooperation spanning all fields of commercial shipbuilding.The firms signed a Memorandum of Understanding during a ceremony in Beijing, at the presence of the Italian Minister of Economy and Finance Giovanni Tria, the CEO of Cassa Depositi e Prestiti Fabrizio Palermo, the CEO of Fincantieri Giuseppe Bono, and the Chairman of CSSC Lei Fanpei.Under the deal, Italian shipbuilding group Fincantieri and China’s CSSC will discuss the possibility to extend their current collaboration…

Fincantieri Marine Group, the U.S. subsidiary of Italian based shipbuilding enterprise Fincantieri, announced that its President and Chief Executive Officer, Francesco Valente, will step down from the position to assume another leadership role within the Fincantieri group.As a result, the Board has selected Dario Deste to assume the role of President and Chief Executive Officer. Valente and Deste are working together to ensure an orderly transition, which is expected to be completed before the end of the year.Valente joined Fincantieri in early 2012 as Senior Vice President for Business Development‐Naval, before being appointed as President and CEO of Fincantieri Marine Group the following May.Deste…

Italian shipbuilder Fincantieri has held a keel laying ceremony for Seven Seas Splendor, the second cruise ship being built for Regent Seven Seas Cruises, a brand of the Norwegian Cruise Line Holdings. The ceremony took place at Fincantieri’s Ancona shipyard on June 28, 2018. The delivery is scheduled for 2020. The ceremony was attended, among others, by Jason Montague, President and CEO of Regent Seven Seas Cruises, who was welcomed by Giovanni Stecconi, the Fincantieri Ancona yard manager. Like her sister ship “Seven Seas Explorer”, delivered by Fincantieri at the Sestri Ponente (Genova) shipyard in 2016, the new vessel will be 55,000 gross tonnes with accommodation for 750 passengers. She will be built using the very latest in environmental protection technologies.

Marine automation systems developer Seastema said it has signed an agreement with cybersecurity firm Haruspex to develop cybersecurity solutions as an answer to rising demand in naval defense markets.Seastema, a Fincantieri Group company, said the agreement has the specific goal of jointly develop competencies for security assessment and real-time monitoring; these fields being an ideal deployment ground for Haruspex products, due to their built-in ability to model possible lanes for cyberattacks and mitigate their effects and protect networks, instruments and on-board equipment.The collaboration will operate on two complementary fronts: cybersecurity tools will…

Low energy prices, depressed day rates and slow growth of bunkering infrastructure has dampened progress for the marine industry’s ‘white knight’ of environmentally friendly fuels. LNG, nevertheless, is here to stay. Liquified Natural Gas (LNG) is a clean fuel in abundant supply. The green advantages of LNG are well known: Class Society DNV-GL, a pioneer in the commercialization of LNG fueling for maritime applications, offers that use of LNG fuel provides “the complete removal of SOX and particle PM emissions and a reduction of NOX emission of up to 85 percent ...

Domestic ferries adjust their business models to met regulatory pressures and exceed environmental standards with an eye towards improved service. And, not a minute too soon. In North America, stalwarts in the ferry business continue to shorten journey times compared to surface alternatives, while at the same time, bring accessibility to barrier and coastal islands that would otherwise be impossible to reach. Established stakeholders continually fine-tune their operations in a…

The 2016 Polar Code has its first luxury-adventure cruise adherents for the long, new ice-free seasons in the high latitudes. Likewise, many designs winning over owners and explorers target exotic Asia-Pacific destinations. Competition is fierce among “designer-shipyards” seeking to build their designs, but their creations could face fewer hurdles to construction than the designs of independents without a yard. Concepts bound for the slipway have something else in common: new davits for large numbers of water craft.

Italian shipbuilder Fincantieri has proposed to seek the privatization of Vard Holdings via a voluntary delisting from the Singapore Exchange Securities Trading Limited (SGX-ST). Fincantieri, which holds a 79.34 per cent stake in Vard through a subsidiary Fincantieri Oil & Gas, is now offering 25 Singapore cent per for every share it does not own, one cent more than its previous offer, which closed in January. "Under the Exit Offer, Fincantieri O&G will offer the shareholders of Vard SGD 0.25 in cash for each Vard share tendered in acceptance of the Exit Offer, for a maximum consideration of SGD 60,943,572.50 (approx. EUR 38,500,000 at the current exchange rate) in case of full acceptance.

FINCANTIERI S.p.A. announced that its subsidiary Fincantieri Oil & Gas S.p.A. has launched a voluntary conditional general offer in Singapore for the ordinary shares of Vard Holdings Limited not already held  by Fincantieri O&G and its related corporations. The Offer is therefore for the 523,528,732 shares not already held by Fincantieri O&G, equal to 44.37% of the Vard share capital. Vard, a company listed on the Singapore Stock Exchange, is one of the largest global shipbuilders of offshore and specialized vessels, with about 9,000 employees and nine shipyards in Norway, Romania, Brazil and Vietnam. The price per share offered to the minority shareholders will be SGD 0.24, for a maximum consideration of SGD 125,646,896 (approx.