Italian cruise ship builder signs deal with Chinese groups

(AGI) Trieste, Nov 21 - Leading Italian cruise linermanufacturer Fincantieri has signed memoranda of understandingwith two Chinese groups to help build cruise ships in China.The deal is with Carnival Corporation, the biggest cruisecompany in the world, and China CSSC Holdings, a subsidiary ofCSSC (China State Shipbuilding Corporation), the largestChinese conglomerate in the shipping industry. "Theseagreements, of historic proportions, are intended to explorethe possibility of a joint venture in cruise shipbuilding forthe Chinese market, which would involve unprecedentedtrilateral cooperation for the construction of the first cruiseship ever built in China,"

(AGI) Trieste, Nov 21 - Leading Italian cruise linermanufacturer Fincantieri has signed memoranda of understandingwith two Chinese groups to help build cruise ships in China.The deal is with Carnival Corporation, the biggest cruisecompany in the world, and China CSSC Holdings, a subsidiary ofCSSC (China State Shipbuilding Corporation), the largestChinese conglomerate in the shipping industry. "Theseagreements, of historic proportions, are intended to explorethe possibility of a joint venture in cruise shipbuilding forthe Chinese market, which would involve unprecedentedtrilateral cooperation for the construction of the first cruiseship ever built in China," reported the company. Fincantieriwill work with CSSC to develop China's capacity to build cruiseships. Fincantieri will use its experience as one of thelargest shipbuilders in the world to provide specialisedservices and components to CSSC yards. Carnival will work withCSSC and Fincantieri to contribute its own experience andcreate a vision, definition and specification for the ships tobe built in China. The Chinese Ministry of Transport predictsthat the country will become the second biggest cruise marketin the world over the next few years after the United States.Its growth will driven by economic growth, increased purchasingpower of consumers and domestic demand. China could carry 4.5million passengers by 2020, the ministry estimates, and if thetrend continues may become the world's biggest market.Potential partnerships such as those between Fincantieri,Carnival and CSSC, are intended to support the ministry'sexpansionary policies and boost tourism in China. . .