H. Yoo
Research expert covering South Korea
Cruise shipbuilding industry worldwide - statistics & facts
While the majority of the commercial shipbuilding activity takes place in Asia, the passenger shipbuilding segment is headquartered in Europe. China, Japan, and South Korea, the world’s largest shipbuilding countries, have outperformed Europe in most of the commercial segments, but European shipyards still excel in niche markets such as the cruise, yacht, and military segments. These sectors require an extremely high degree of workforce specialization as well as sophisticated technologies. Within Europe, the main shipyards for cruise vessels are located in Italy, Germany, France, and Finland. Fincantieri is the largest cruise ship builder worldwide, providing vessels for some major cruise lines such as MSC Cruises and Costa Cruises. Despite its status, Fincantieri is not spared the competitive pressure exerted by Asian shipyards. Its plan to merge with France’s largest shipyard, Chantiers de l’ Atlantique, is currently being reviewed by EU antitrust regulators. This move would leave the German group Meyer Werft as its only European competitor.
