Growing with Europe

The European shipbuilding industry has gradually withdrawn from the construction of vessels with a lower technological content, which are now virtually the exclusive domain of the Far East. Instead, European builders are increasingly focusing on complex products with high added value, where price is not the sole competitive factor. Within this context, Fincantieri is focusing its efforts on three main business areas, namely cruise/ferry, merchant and naval vessels.

Here in the merchant business unit, we look to the future with a certain degree of confidence. Although the market for merchant vessels is by no means an easy one, we have succeeded in winning numerous orders; while the orders from Tirrenia follow on from previous work, the orders from Moby and Neptune Lines constitute an expansion of the company's customer base and clearly prove that Fincantieri is competitive. This is further confirmed by our most recent success, which is an order from Finnlines in February this year for three vessels, followed by two additional contracts in November for a total of six ropax vessels.

We also believe there are numerous positive factors supporting continued demand for new vessels in the coming years. Besides increasingly ageing vessels (especially those operating in the Mediterranean) and increasingly stringent safety regulations, the drivers for this sector will be the growth in traffic due to the enlargement of the European Union, the liberalisation of short sea shipping in Greece and the commitment of institutional support in favour of short sea shipping in Europe and Italy through the so-called "motorways of the sea" initiative.