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Fincantieri Group expects to resume its growth in 2021

Fincantieri Group expects to resume its growth in 2021

The Fincantieri Group expects to continue its growth path in 2021, with better margins and profitability, after returning to 100% production in the fourth quarter of last year.

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Fincantieri expects a net loss of 245 million euros on revenues of 5.2 billion euros in 2020, excluding "pass-through" operations, compared to a net loss of 148 million euros on revenues of 5.8 billion euros in 2019. The decrease in sales was attributed to a reduction in production hours due to COVID-19, according to the company.

Fincantieri reported that cruise ship deliveries remained on track as expected prior to the pandemic, and that despite development delays, four of the seven ships scheduled to be delivered in 2020 were delivered in the second half of the year.

For Windstar Cruises, the Palermo yad completed the lengthening of the Star Breeze, which will be followed by two more sister ships.

Fincantieri announced the production of a new series of thrusters specifically built for the cruise ship market, meeting higher criteria for quietness, performance, reliability, and environmental sustainability, among the highlights for 2020.

In other news, in a joint venture between Carnival and China State Shipbuilding Corporation (CSSC), construction on the first cruise ship began in Shanghai Waigaoqiao Shipbuilding subsidiary of China State Shipbuilding Corporation (CSSC).

Fincantieri has also signed a letter of intent to help design and build a new ship repair, conversation, and maintenance yard in Yucatan, Mexico.

Fincanteri will have exclusive ownership of the facility for 40 years.

In 2021, the Italian yards will deliver five cruise ships: the Silver Dawn, Viking Venus, Rotterdam, MSC Seashore, and Virgin Valiant Lady, as well as two ships for Ponant and Hapag-Lloyd from Vard (a Fincantieri subsidiary).

Funding is also in place to upgrade the production facilities at the shipyards in Marghera and Monfalcone to accommodate increased production volume, as well as greater cooperation between the cruise shipyards in Italy and Romania.

Maritime Business World 

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