It is likely that China will become the largest cruise market in the world as several large scale vessels are planned. Norwegian companies can become alliance partners contributing with their technology, experience, design and IT-competence.
The Chinese cruise market grew by nearly 80% from 2012 to 2014 to nearly 700,000 passengers. At the current pace of growth, China could be the world’s second-largest cruise market by 2017. This projection was based on the huge gap with the numbers of Chinese tourists travelling abroad each year. China has become the biggest source of the international travel market. In 2014, there are 110 million Chinese tourists went abroad and among them, only 700,000 travelled by cruise ships. The market potential is huge.
Shanghai yard build more cruise ships for China
China’s Shanghai Waigaoqiao Shipbuilding (SWS) targets a 2022 delivery for its first mega cruise ship of 133,500gt under a joint venture involving the shipyard’s parent, China State Shipbuilding Corp. (CSSC), China Investment Corp., Carnival Corp. & plc and Fincantieri.
The cruise ship will be based on the Carnival Vista design with a length of 323 meters, 15 decks and capacity for 5,000 persons. It is intended for a brand that will serve Chinese travelers and will be customized for the market.
On 23rd of September 2016 all the parties in Tianjin signed a non-binding memorandum of agreement, subject to financing and other conditions, which involve two firm orders and two options. The 2022 date for the first delivery is two years later than the originally reported year. The signing ceremony signaled that China’s first large-scale cruise ship has advanced from the planning phase to the implementation stage.
The project was born out of a partnership forged in October 2015 between CSSC, China Investment Corp. and Carnival Corp. & plc to establish a joint venture in Hong Kong to explore the Chinese market for cruises. CSSC is tapping into Italy’s highly seasoned shipbuilder, Fincantieri, to help with technical support and design work.
Business Opportunity for Norwegian companies
With comprehensive knowledge in the maritime industry, Norwegian companies can contribute a lot to the Chinese cruise market. Know-how & Experiences in the Integrated design, Interior Outfitting, Special machinery, and Automation & IT from Norway are with high reputation in China.
For further information and insights of the market opportunities, please contact:
Senior advisor, Innovation Norway China in Shanghai office