Fincantieri and Norwegian Cruise Line Holdings Ink $9 Billion Deal for Four New Cruise Ships

Fincantieri, the Italian shipbuilder, and Norwegian Cruise Line Holdings (NCLH), the parent company of Norwegian Cruise Line, Oceania Cruises, and Regent Seven Seas Cruises, have signed a significant agreement for the construction of four new next-generation cruise ships. The deal, worth approximately $9 billion, is set to strengthen the partnership between the two companies and drive growth for both parties.

The four new ships, two for Regent Seven Seas Cruises and two for Oceania Cruises, will be built at Fincantieri's Monfalcone shipyard in Italy. The vessels are expected to be delivered between 2026 and 2029, with the first unit slated for delivery in 2026. These new ships will boast a gross tonnage of around 77,000 tons for Regent Seven Seas Cruises and 86,000 tons for Oceania Cruises, accommodating approximately 850 and 1,450 passengers, respectively.

In addition to these four ships, Fincantieri and NCLH have signed a Letter of Intent to explore the construction of four additional units for the Norwegian Cruise Line (NCL) brand. These vessels, scheduled for delivery between 2030 and 2036, will be the largest ever built for the NCL brand, with a gross tonnage of approximately 200,000 tons and the capacity to accommodate around 5,000 passengers each. This strategic order will see each brand crafting its own class of new ships, prioritizing size, efficiency, and innovation within their respective fleets. Aligned with the Company's sustainability commitments, these new ship projects are expected to significantly contribute to the journey towards decarbonisation.

The contract for these four new units is now in effect and has already been secured through financing. The second agreement, subject to financing and other terms and conditions, marks a highly significant new phase in the long-term partnership between the two groups.

Pierroberto Folgiero, CEO and Managing Director of Fincantieri, stated: "We are particularly proud of this impressive new agreement and the partnership with a historic and prestigious client like Norwegian Cruise Line Holdings, confirming a continuity of strategic relationships that we consider a great industrial value. An important milestone for our shipyards and a historic agreement for the Group, confirming the robust recovery of the market and the investments we had planned in our new industrial plan."

Harry Sommer, President and Chief Executive Officer of Norwegian Cruise Line Holdings Ltd., said: "We are excited to continue our partnership with Fincantieri on this strategic new-ship order for the future of our company. This will ensure the steady introduction of cutting-edge vessels into our fleet and solidify our long-term growth. Our shared commitment to innovation and excellence will allow us to elevate the standards in our industry even further, enhancing our ability to offer our guests new products and experiences, all while providing opportunities to enhance the efficiency of our fleet."

This significant order demonstrates Fincantieri's strong market position in the cruise shipbuilding industry and its commitment to innovation, sustainability, and long-term growth. The financial impact of this order is expected to be substantial, as it will provide significant economic benefits and extend the employment horizon of Fincantieri's shipyards.