Fincantieri wins $5.1bn order from NCL

Cruiseship owner inks deal for four firm vessels, plus options for two more.

Norwegian Cruise Line (NCL) has placed a mammoth order at Fincantieri for up to six ships valued at EUR 4.8bn ($5.1bn).

The Italian shipbuilder will construct four new generation cruiseships and has options for another two.

NCL will take delivery of the vessels, which will cost EUR 800m each, from 2022 to 2025, stretching to 2027 if it exercises the options.

These ships will form the backbone of the future NCL fleet and will be around 140,000 gt and 300 metres long.

Fincantieri developed the innovative ship design in-house and presented it to the shipowner.

Giuseppe Bono, chief executive at Fincantieri, said: “This outstanding result allows us to include a new prestigious client in our portfolio, which confirms Fincantier’s ability to develop a flexible approach, leading-edge solutions for every segment and demand of the modern cruise industry.

Cassa Depositi e Prestiti and Sace together with a pool of export credit lenders played a crucial role in the success of the order, Fincantieri added.

The Italian shipyard adds NCL to its client portfolio while it is already building ships for rival Carnival Corp.

Bono added: “The remarkable value of the order has to be added on top of these factors.

“The group will benefit from it under economic and workload terms and the order will further extend the utilization horizon of our shipyards.”

Frank Del Rio, president of NCL, said: “This order continues to highlight our disciplined newbuild programme, extends our growth trajectory well into the future, enhances our already attractive earnings profile and drives expected long-term returns for our shareholders.”

TradeWinds reported last summer that NCL was a serious candidate to start knocking on the door of European shipyards for new orders.

NCL already has three vessels under construction at Meyer Werft, due in 2017, 2018 and 2019.

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