Fincantieri boosts position in China’s cruise ship refit market

Fincantieri boosts position in China’s cruise ship refit market

Italian shipbuilding group Fincantieri is to work with Huarun Dadong Dockyard (HRDD), one of China’s largest shipyards, to repair and convert cruise ships based in China.

As part of the new agreement, Fincantieri’s Ship Repair and Conversion business unit will provide technical expertise to help HRDD develop the technical and project management skills and logistics procedures needed to manage cruise ship projects.

Together Fincantieri and HRDD, which has five drydocks and is located near the new Cruise Terminal of Shanghai, will support operators in the emerging Chinese cruise sector and the main foreign cruise brands operating in the market.

The new agreement supports the Chinese Ministry of Transport’s (MOT) expansion policies for the cruise sector. According to the MOT, China will be the second largest global cruise market after the US in the next several years based on economic growth, the increased spending power of Chinese consumers and internal demand in this sector. In total, the country could host 4.5 million cruise passengers by 2020 and 10 million within 20 years, which would require more than 100 passenger ships.

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