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Fincantieri and CSSC extend cooperation

Italy’s Fincantieri and China State Shipbuilding Corporation have signed a memorandum of understanding for the extension of cooperation, already existing between the two groups for cruise shipping, to all segments of merchant shipbuilding.

A statement from the Trieste-based group specifies that this agreement “foresees the parties to discuss the possibility to extend their current collaboration, which counts a joint venture dedicated to the first cruise ships ever built in China for the local market and other related activities, including a number of research and development projects in several areas of the shipbuilding, such as: vessels for the oil&gas industry, cruise-ferries, mega-yachts, special vessels, steel infrastructures, marine engineering and equipment procurement”. The two companies are also looking at additional cooperation opportunities and may therefore extend the scope of the agreement to other areas.

Fincantieri and CSSC will establish a joint working group, composed of six members with appropriate technical expertise, three selected by each side. This group aims, by the end of the year, to conclude the preliminary activities which are to define potential opportunities for each of the areas identified for the collaboration, to analyse the market size and to identify preferential sales channel, to analyse potential partnership among CSSC and Fincantieri group companies or its network of suppliers.

Nicola Capuzzo

Nicola is a highly qualified journalist focused on transport economics, logistics and shipping with broad experience in both online and printed media. Specialties: shipping, ship finance, banking, commodities and port economics. He regularly interviews Europe's top shipowner executives for Maritime CEO magazine.
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