Fincantieri and Shanghai yard in cruise ship repair accord

Shanghai shipyard's facilities include a 380 m x 103 m graving dock and four floating dry docks of up to 340 m x 65 m Shanghai shipyard's facilities include a 380 m x 103 m graving dock and four floating dry docks of up to 340 m x 65 m

MARCH 2, 2016 — Fincantieri and Chinese ship repairer Huarun Dadong Dockyard (HRDD) have signed an exclusive cooperation agreement on ship repair and conversion that is aimed at serving cruise ships based in China.

As part of the deal, Fincantieri's Ship Repair and Conversion business unit, will provide cruise sector technical expertise. It says that this, combined with HRDD's first class shipyard facilities, will offer fundamental support to the emerging Chinese cruise sector and to the main foreign cruise companies operating in the Chinese market.

HRDD has modern facilities, including five dry docks, strategically positioned near the new  Shanghai Cruise Terminal of Shanghai.

The Chinese Ministry of Transport (MOT) sees China becoming the second largest global cruise market after the U.S. in coming years, potentially generating 4.5 million cruise passengers by 2020 and exceeding 10 million within 20 years. This expansion could require more than 100 passenger ships.

In addition to placing latest-generation ships, specifically built for the market, in the region, says Fincantieri, the main cruise operators are also pursuing a dedicated brand creation policy and alliances with local operators.

Want more? Subscribe now!

News from NASDAQ