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CIN Executive Guide

Fincantieri Announces 2023-2027 Plan and Long-Term Vision

MSC Seascape

Fincantieri has announced its strategic guidelines and business plan for 2023 to 2027, while also outlining its ambitions for the longer term, which includes becoming a global leader in the development and lifecycle management of green and digital ships for the cruise, defense and energy sectors.

The company stated that it will use the synergies between cruise, defense and offshore to strengthen the group for the green and digital transitions and technological innovations.

Within the cruise industry, Fincantieri enjoys a market share of more than 40 percent and has built some 120 cruise ships since 1990, representing more than a third of the fleet. As of Sept. 30, 2022, Fincantieri had 28 cruise ships on its orderbook for deliveries through 2028.

Post pandemic, the cruise industry’s next phase will be driven by the resumption of tourism with a clear preference for cruises, according to Fincantieri, new niche luxury operators entering the market, and the green transition for ships equipped with the most innovative technological features and the next generation of engines.

Market demand combined with the green transition, which will motivate owners to build new ships while disposing of older ships, will drive shipbuilding going forward, the company stated.

Fincantieri outlined two roadmaps, one to net-zero ships, which calls for technology improvements to reduce energy consumption both for propulsion and the hotel load; new fuels and propulsion technologies; and ship operations with lower cruising speeds.

The other map is for a digital transition to generate higher efficiencies in operations, engineering and procurement; increasing integration using artificial intelligence; evolving lifecycle management; and a push toward advanced analytics developing digital applications and data platforms.

Fincantieri’s future forecast includes evolving generations of ships, going from high efficiency MGO vessels in 2022 to dual fuel internal combustion engines combined with fuel cells and batteries in 2030 to net zero ships by 2050 with new fuels and new internal combustion-based powerplants.

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