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Investing.com -- Shares of Fincantieri edged up 0.9% following the announcement of a substantial order from Norwegian Cruise Line (NYSE:NCLH) for the construction of four new cruise ships.
The Italian state-owned shipbuilder did not disclose the financial details of the deal, but sources close to the matter estimate the contract’s value at approximately €9 billion ($9.34 billion).
The stock saw a notable increase in mid-morning trading, reaching €7.68, marking a 10.8% rise year-to-date. This uptick comes after the recent agreement with Norwegian Cruise Line, which solidifies Fincantieri’s position in the shipbuilding industry.
According to Fincantieri, the cruise ships will be capable of accommodating over 8,300 people, including crew members. The vessels are slated for construction at the company’s Monfalcone shipyard, situated near Trieste, Italy.
The delivery schedule for these ships is set for the years 2030, 2032, 2034, and 2036, indicating a long-term commitment between Fincantieri and Norwegian Cruise Line. The formalization of this contract follows a letter of intent signed by the two companies in April 2024.
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