Deal for five next-generation passenger ships

The finalisation comes after an agreement in March 2015 and the memorandum of understanding in December.

“This result, which is by far one of the most important ever achieved by an Italian industry, makes us proud of the strong commitment made over all these years,” said Giuseppe Bono, CEO of Fincantieri.

Two of the new ships will be built for the Costa Crociere brand Costa Asia, two others for Princess Cruises and one of P&O Cruises Australia.

The five next-generation ships will be built at shipyards in Monfalcone and Marghera between 2019 and 2020.

“Supporting our goal to exceed guest expectations on every cruise, these ships will create a whole new level of excitement and opportunity to deliver experience to our guests,” said Arnold Donald, CEO of Carnival Corporation.

He added: “Using our strategic fleet enhancement plan to delight out guests is an important part of our measured growth strategy, which includes replacing less efficient ships with newer, larger and more efficient vessels over a very specific period of time.”

The contracts were signed by Micky Arison, chairman of Carnival Corporation, and Giuseppe Bono, CEO of Fincantieri, in the presence of Graziano Delrio, minister of infrastructures and transport, personally delegated by the Prime Minister’s Office, to represent the Italian Government.