What's Happening?
Italian shipbuilder Fincantieri has confirmed an order from Carnival Corporation's Princess Cruises for three new large cruise ships, valued at over $2.3 billion. These ships are set to be the largest
and most advanced in the Princess Cruises fleet, with a gross tonnage of 183,000 and a passenger capacity of 4,700. The new ships will be built on the Sphere Class platform and will feature dual-fuel engines, primarily using Liquefied Natural Gas (LNG). This order is part of Carnival Corporation's strategy to pace new ship orders for growth across its brands, with deliveries scheduled for 2035, 2038, and 2039.
Why It's Important?
This significant order highlights the cruise industry's confidence in long-term growth, despite recent challenges. The use of LNG as a primary fuel source reflects a shift towards more sustainable practices within the industry. For Fincantieri, this order secures a robust workload through 2039, supporting its industrial plan and reinforcing its position as a leader in sustainable shipbuilding. The expansion of the Princess Cruises fleet aligns with the industry's forecasted growth, with the Cruise Lines International Association predicting 40 million passengers annually by the end of the decade.
What's Next?
The construction of these new ships will take place at Fincantieri's shipyard in Monfalcone, Italy, adding to the company's extensive order book. As the cruise industry continues to recover and expand, these new ships will play a crucial role in meeting the anticipated demand for cruising experiences. The focus on LNG-powered ships may also influence other cruise lines to adopt similar sustainable technologies, potentially leading to broader environmental benefits across the industry.
