A joint venture between China’s shipbuilding conglomerate China State Shipbuilding Corporation (CSSC) and the Italian shipbuilder Fincantieri plans to invest some USD 3.7 billion to build five cruise ships, according to local media.
The first vessel from the batch, which will be able to carry up to 5,000 passengers, is scheduled for delivery in 2021.
The announcement follows the establishment of the joint venture last week, when the two companies signed an agreement aimed at developing and supporting the growth of the Chinese cruise industry.
The parties earlier said that the new cruise ships will be built at one of CSSC’s shipyards, the SWS facility.
Namely, the joint venture company will design and sell cruise ships intended and customized for the Chinese and Asian markets.
China estimates that it could become the world’s second largest cruise market after the US, reaching some 4.5 million passengers by 2020 and 8-10 million passengers by 2030, with a double-digit growth per year.