Italian shipbuilder Fincantieri, China State Shipbuilding Corporation (CSSC), and Shanghai City’s district of Baoshan have signed a letter of intent (LOI) to develop a cruise ship industrial park in the Chinese city.
The LOI was signed by Fabrizio Ferri, CEO of Fincantieri China; Chen Qi, vice President of CSSC; and Su Ping, district vice director.
The signing ceremony follows a meeting held this February in Beijing, which was attended by Italian President Sergio Mattarella and Chinese President Xi Jinping. During the meeting, Fincantieri and CSSC also signed a binding agreement to build two 133,500gt cruise ships for Carnival Corporation at Shanghai Waigaoqiao Shipbuilding Co, with an option for four more. The vessels will be delivered from 2023 and will be the first to be built in China for the Chinese market.
According to the LOI, Fincantieri, CSSC and the district of Baoshan will create a hub dedicated to shipbuilding and the cruise industry, whenever it is technically and economically feasible to do so.
The cruise ship industrial park will be built in Baoshan, which is home to China’s largest cruise and commercial port and has Free Trade Zone status. The district's administration team aims to transform Baoshan from a cruise port into a ‘cruise city’ to attract more tourists, and will provide land, financing, and tax and administrative benefits for the project.
Meanwhile, Fincantieri and CSSC will promote the park to both their supply chain network and the wider industry, enabling companies to capitalise on opportunities to work on cruise projects in Boashan.