Fincantieri Expects Nearly 50 Million Cruise Passengers in 2030

By ,   March 31, 2018 ,   Cruise Industry

The Italian shipbuilding group Fincantieri, which is the world's largest cruise ship builder, presented a business plan for 2018-2022, calling for closer synergies between its ship yards and supply chain in the cruise sector.

The company announced in a statement that in order to better deploy its backlog, it planned to optimise Italian shipyards' productive capacity and along the supply chain, besides leveraging on substantial production synergies with the Romanian shipyards of Vard, particularly via increased use of Tulcea yard to support Italian production network, therefore reducing the overload which would be otherwise incurred.

Fincantieri Italy

The cruise ship order portfolio of the company is characterised by both a greater proportion of big cruise ships (more than 140,000 gross tons) and positive trend in lower berth pricing. The combined effect of the two will allow to develop innovative projects featuring greater value.

These expectations are confirmed by strategies implemented by cruise lines, who started newbuilding programs, aimed notably at emerging markets, to anticipate growth in demand and gain a competitive positioning in the cruise market. 

In the business plan, 2022 revenues are due to grow up to 50% versus last year, accompanied by an increase in profitability with EBITDA margin between 8%-9% (corresponding with EBITDA growth of up to 100% versus last year). In 2022 Adjusted net income margin is due to be between 3%-4%.