Carnival and Fincantieri to End Cruise Order Drought with Historic $5 Billion Deal

Carnival Corporation and Fincantieri are reportedly finalizing a $5 billion order for new cruise ships, which would be the largest such order since the start of the pandemic in 2020. This record-breaking order would see Carnival breaking the 200,000 gross ton mark, making it only the third cruise company to reach that size. Fincantieri CEO Pierroberto Folgiero has confirmed that the company is working on new orders and expects the cruise industry to return with new orders, with Carnival Corporation executives meeting with Fincantieri in October and December.

The order is rumored to initially be for four vessels valued at over $5 billion, with the first ship expected to be delivered to Carnival Cruise Line in late 2028 or early 2029. These new ships would be nearly 14 percent larger than the recently delivered LNG dual-fuel cruise ships and nearly 20 percent bigger than the largest cruise ships built by Fincantieri. It is speculated that the new ships may go to the Italian brand Costa to help restore it after downsizing post-pandemic.

The order would provide a boost to contractors and related businesses in the Trieste region of Italy, and only Fincantieri’s Monfalcone shipyard would be able to handle ships of this size. With the rebound in cruise bookings, it is logical for Carnival to begin placing newbuild orders to replenish its orderbook, which has fallen to a modern low following the pandemic.

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