Fincantieri goes Caribbean

According to market reports in the Italian financial press, Fincantieri has acquired the Grand Bahama Shipyard for about $100million. Finland?s Masa Yards was also in the running, but Fincantieri?s package was considered to be the more impressive. With the acquisition Fincantieri has assured maintenance and refurbishment orders from Carnival, and a potential new client in Royal Caribbean.

Freeport?s principal ship repair facility was built by Lloyd Werft in 1998 on initiative of Carnival and Royal Caribbean. Again, according to the same report, Fincantieri is apparently in negotiations to acquire a stake of between 20% and 35% in Lloyd Werft. The Italian company is also looking to the Far East, in particular South Korea.