On March 31, 2025, Italy's Fincantieri announced a significant milestone in the cruise industry by signing a Memorandum of Agreement (MoA) with TUI AG for the design and construction of two new cruise ships for the Marella Cruises brand. This agreement, valued at over two billion euros, marks a pivotal moment as it represents Marella's first foray into new shipbuilding, transitioning from its current fleet of older, refurbished vessels.
The new ships are scheduled for delivery in 2030 and 2032, and they will be specifically designed for the British market with a strong emphasis on environmental sustainability. Fincantieri, a leading shipbuilder, highlighted that the vessels will feature elegant designs, high-quality materials, and a variety of spacious accommodations, catering to the evolving expectations of modern cruise passengers.
Fincantieri's CEO, Pierroberto Folgiero, expressed pride in welcoming Marella Cruises as a new customer, stating, "We are proud to welcome Marella Cruises as a new customer and to support its vision as it enters the newbuild segment." He further emphasized that this agreement showcases Fincantieri's capability to forge strategic partnerships with an expanding client base, reinforcing the shipyard's long-term visibility and ensuring a high level of capacity saturation for its facilities.
The announcement comes after TUI's Supervisory Board approved the project on March 30, 2025, paving the way for the new ships to replace a significant portion of Marella's aging fleet, which includes vessels like Marella Discovery, Marella Discovery 2, Marella Explorer, Marella Explorer 2, and Marella Voyager.
Marella Cruises, in a statement, noted the importance of this development, indicating that the fleet renewal may occur within the current ownership structure while also exploring potential partnership options. This strategic move is expected to enhance Marella's competitive position in the UK cruise market, providing a long-term product that aligns with the growing demand for sustainable and innovative cruising experiences.
The indicative business case for the newbuilds calculates an EBIT of between €130 million and €150 million per annum per ship, with a return on invested capital (ROIC) of 11% to 12%. This financial outlook underscores the anticipated success of the new vessels in the competitive cruise industry.
As Fincantieri prepares to embark on this exciting venture, the shipbuilder aims to leverage its extensive expertise in ship design, innovation, and sustainability to deliver vessels that not only meet but exceed the expectations of today’s cruise passengers. The partnership with TUI marks a significant step forward for both companies, as they seek to redefine the cruising experience for British travelers.
With the cruise industry undergoing a transformation towards more sustainable practices, the collaboration between Fincantieri and Marella Cruises signals a commitment to environmental responsibility in shipbuilding. The new ships will incorporate advanced technologies and design elements aimed at reducing their ecological footprint while providing passengers with luxurious and comfortable accommodations.
In summary, the signing of the MoA between Fincantieri and TUI AG represents a landmark moment for Marella Cruises as it ventures into new shipbuilding, with plans to deliver two state-of-the-art vessels by 2030 and 2032. This development not only highlights the growing trend of sustainability in the cruise industry but also positions Marella to strengthen its market presence in the UK.
