CRUISES, ITALIANS IN CHINA TO BUILD SHIPS

Fincantieri Carnival explores the horizon of China: the Memorandum of Understanding with China State Shipbuilding Corporation, the company of the yards of the Beijing government, opens the way to a joint venture that will bring the Italian group to assert global leadership in building cruise ships. The news was greeted positively by investors. The title Fincantieri has grown more than 2.5% and closed gaining 1.94% in one day, however, very positive for all the Milan Stock Exchange. Leading the eastern expansion of Fincantieri is the largest middle class in the world. The Chinese are spending more and more on holidays abroad have become the first in the world, but also at home spending grows. In early October, during the Golden Week, the expenditure in hotels and restaurants grew by 52.2% compared to 2013, according to data from China UnionPay, the association of credit cards. The Chinese market cruise is still a construction site. In 2013 the Chinese cruise passengers were just 570 000 in 2015 could already be a million, by 2020 the Ministry of Tourism of Beijing will be an estimated 4.5 million, surpassing the United States and becoming the first market. Entry barriers are relevant domestic routes can be navigated only by Chinese companies, and companies can buy ships abroad by paying a fee of 30% on the price of the ship, which – for the big flagships – exceeds itself 500 million euro. Beijing has so tried two Western partners, identifying Fincantieri for the construction and which operator Carnival. The co-Fincantieri Carnival will thus move even in China, where the first ship to enter in 2006 was its Costa Crociere, a subsidiary of Carnival. The goal of Fincantieri, which he called “historic” agreement, is “a strong presence in the markets that ensure a future,” said the CEO, Giuseppe Bono, noting the desire to “be an example italianity in the world. “While many Chinese investors are shopping in Italy, Fincantieri is presented at par in Beijing, and in addition to the construction of ships, could open the space for manufacturing systems and naval components. The agreement will be studied in the next few months, until the birth of the joint venture.