Page 32: of Maritime Reporter Magazine (February 2016)

Italy cruises on the crest of a wave

BY JOSEPH FONSECA raditionally, Italy’s location CLIA (Cruise Lines International Asso- world of shipping and marine defense. creativity. The leadership gained with a and coastal development have ciation), the organization that represents Helped by the specialization of Italian distinctive product “Made in Italy,” is continued to ensure the coun- European cruise operators. companies, which had the dynamism the result of top quality and a privileged try a ? ow of income from its Already in the early 1900s the two to build large ships, the state-controlled relationship with the best international

T role as a strategic European hub in what shipbuilding centers of Genoa and Tri- Fincantieri and luxury cruise ship maker customers. has come to be known as the new “mari- este were unrivalled players at world T Mariotti this sector weathered various Thanks to its constant attention to time century.” The country boasts of level building ships which already then ? scal storms. Research and Innovation, Fincantieri having the largest ferry ? eet, the twelfth stood out for their design, elegant inte- Fincantieri, the largest shipbuilder in continually develops new generations most extensive merchant shipping ? eet rior furnishings and engineering solu- Europe, after the acquisition of VARD in of ships in order to follow, indeed often in the world (fourth in Europe), and the tions. Of the many ships built, the ‘Rex’ 2013 had as a group doubled in size to anticipate, demands from the market third biggest European ? shing ? eet, with is worthy of special mention, as pos- become the fourth largest in the world. and ship owners. Fincantieri continues the national maritime cluster generating sibly the most famous, classical Italian The company builds both commercial to serve all sectors of the cruise market 3% of GDP. But its growing cruise in- transatlantic liner, the epitome of luxury and military vessels. It was Fincantieri with a wide range of vessels which in- dustry is being looked upon as the game and elegance. Built at Genoa shipyard, to be the ? rst in the 1980s to take up cludes Post-panamax and Panamax ships changer to the gradual slump being wit- the Rex is remembered for winning the the opportunity of the new trend in the as well as medium-small super luxury nessed in the other sectors. Blue Riband in 1933, having beaten the cruise tourist industry and it approached vessels or ships for special voyage types

Italy remains “one of the most impor- record for crossing the Atlantic, a record the market by drawing on its experience (expedition cruise, etc.) tant destinations, the market of origin for won by few other transatlantic liners. and the prestige acquired in previous de- In 2014, the cruise industry in Italy large cruise lines and a world leader in While the shipbuilding industry, at cades as builder of transatlantic liners. did see a slump and it recorded growth shipbuilding. The Italian economy, in a global level, began going through a The Crown Princess, delivered in well below European competitors. Last

Europe, has bene? ted the most from the period of transition, the cruise ship- 1990, is perhaps one of the most beau- year although, the sector in Italy grew cruise industry, with over €4.6 billion building sector in Italy however, ? uctu- tiful ships of our time with its dolphin by 0.7%, against 2.5% in 2015. This of direct business impact in 2014 and ated but stayed strong. Fincantieri Spa, skyline evoking the sea, designed by slowdown in Italy has been considered over 102,000 jobs involved in the sec- D’Apollonia, Rodriguez Spa, Ferretti Renzo Piano. This ship is the forefather “alarming,” considering that competi- tor (equal to around a third of the total Yachts, Azimut-Benetti, Leopard Yachts of a ? eet of over 50 cruise ships built by tors are gaining ground and growing at a in Europe,” according to the “Economic and FIPA Group are some builders who Fincantieri, ? ag bearers of technology much faster rate,” said the CLIA report. contribution report 2015” presented by are established undisputed leaders in the and design, engineering capacity and During the 12 months of 2015, how- ever, the industry recorded orders for around 40 million of compensated gross tons, down 10-15% compared to 2014.

In particular, demand of offshore rigs of all sizes has essentially vanished as a result of falling oil prices and the in- evitable drop in spending on exploration & production by a majority of oil & gas industry operators. Though Fincant- ieri recorded ? rst-half losses, hit by the offshore sector its revenues increased, mostly driven by cruise ships. The cruise shipbuilding boom is a positive sign for the Italian industry. Of 216 cruise ships built worldwide from 1990 until last year, 70 were built by Fincantieri.

Cruise tourism in Italy impacts all of the major aspects of the industry, includ- ing: ports of embarkation, ports-of–call, shipbuilding, ship maintenance, pro- visioning, sales and marketing and the staf? ng of cruise ships and administra- tive facilities. Fiscal and economic con- ditions in Italy during 2014 continued to constrain the growth in demand. In addi- tion the contraction in deployed capacity has resulted in a reduction in cruise pas-

Monfalcone Shipyard (Photo Courtesy Fincantieri) 32 Maritime Reporter & Engineering News • FEBRUARY 2016

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