MSC Cruises and Palumbo Group announced they had formed a joint venture to operate Palumbo Malta Shipyard.
The new JV sees MSC take a 50% stake in the yard and become an equal partner along with the current owner Palumbo Shipyards.
Over the last 10 years, Palumbo Malta Shipyard has become an international professional centre of excellence for shipping repairs since Palumbo Group took it over. An upgrade is envisaged for the yard to further enhance all aspects of its market-leading operations and intensifying its specialist cruise line focus.
Palumbo Malta Shipyard will receive custom from the liners of MSC Cruises as well as from MSC Group cargo ferries and ships while continuing to serve the loyal clientele of the shipyard.
Of note is the potential introduction of cutting-edge technology that is expected to allow repair and servicing of the next generation of LNG-powered cruise vessels being built for the fleet of MSC Cruises. This will support the line’s objective of achieving zero environmental impact operations as part of the drive towards a more sustainable cruise industry.
Palumbo Group was established in Naples Italy in 1967.