Latest news with #Fincantieri
Sydney Morning Herald
14 hours ago
- Sydney Morning Herald
The next big cruise ship destination is the desert
The crystal ball of cruising is always unclear, but few would gamble on the Middle East becoming the next cruise hotspot. Indeed, you might have predicted its abandonment from the time Houthi rebels started attacking Red Sea shipping in 2023. But the Persian Gulf isn't the Red Sea, and I'd stake money on the Gulf seeing many more cruise ships soon. Gulf states are scrambling to diversify from fossil fuels and looking to tourism. Several nations have invested in cruise infrastructure and created the Cruise Arabia Alliance to promote cruising. The last decade has seen ultramodern cruise terminals mushroom in Bahrain, Kuwait, Muscat in Oman, Doha in Qatar, and Dubai and Abu Dhabi in the Emirates. Dubai is the major hub with capacity for 14,000 cruise passengers a day and new dry docks for cruise-ship refits. Saudi Arabia is developing its shipbuilding capacity. Italian company Fincantieri, which builds many cruise ships, opened a Saudi subsidiary in early 2024. Saudi-owned Aroya Cruises launched its first ship last December and has plans to add two more. By 2030 Saudi Arabia aims to have 10 ports with cruise terminals and attract 1.3 million cruise passengers a year. For now, Aroya Cruises is focused on the Middle Eastern market, while most passengers on international cruise lines are Europeans fleeing the winter. But given our good flight connections to Gulf cities, we have every reason to join them. Cruising is an attractive option because accommodation and transportation is expensive in the Gulf, particularly on multi-country tours. The weather is very reliable and the Persian Gulf placid.
Irish Times
22-07-2025
- Business
- Irish Times
Tech shocks to industry have only just begun
A few weeks ago, I had one of those 'blink' moments that changed my view of the labour market in the United States . I was in a shipbuilding factory in Marinette, Wisconsin, owned by the Italian company Fincantieri. Among other things they build giant frigates for the US navy, vessels that are more than 400ft long and many stories high. It used to take hundreds of men years to do the kind of metal bending this takes. But in this massive building, a little more than the size of a football field, I counted fewer than two dozen workers. They were directing robotic welding arms to carve massive pieces of steel in a fraction of the time that hand blasting takes. Virtual reality helmets helped them to exactly match construction on new builds to parts yet to be fitted, something that used to involve guesswork and paper blueprints. Even painters were wearing sci-fi type 'exosuits' (think Matt Damon in Elysium) to make their jobs exponentially easier and more comfortable. If this is what's happening in shipbuilding, one of the more antiquated industries around, think about the potential of technology to change the industrial workplace over the next few years. We already know that it has had a greater impact on manufacturing jobs than even outsourcing to China did. The two factors have together radically transformed the employment map of the US. [ Boeing and Intel symbolise America's manufacturing decline Opens in new window ] In 1990, manufacturing was the biggest employer in most states. Today, it's top only in Wisconsin, Michigan, Iowa, Alabama, Kentucky and my own home state of Indiana. The latest jobs figures from June show manufacturing employment as flat, despite all the president's talk about reshoring. While some of this might be about tariffs, I think it's more about the changing nature of industrial employment. Factory jobs are fewer, but much better than they used to be when I was hanging out in the crowded, relatively low-tech electronic component facilities my father ran decades ago for companies such as United Technologies. David McWilliams on how 'big incentives' to build could save Dublin city Listen | 36:51 The employees I met in Marinette were working more at the level of engineers than machinists. They were involved in product innovation, research and the training of new workers, something that is transformed by technology – it now takes days rather than months to get a new welder up to speed using robotic equipment. But it also takes investment, and that's something not every company has been willing or able to make. Fincantieri poured almost a billion dollars in capex into its Wisconsin facilities over 15 years, and the long-term security of defence contracts (which extend over years or even decades) have made that a good bet. The company now employs 2,500 people in a town of roughly 11,000, with a large multiplier effect. For every Fincantieri job in the region, eight others are supported in areas such as the company's supply chain, housing and construction, services and the public sector. This kind of technology deployment is not present in every shipbuilding business, or indeed in most industrial companies. There is a superstar effect in terms of technology investment in manufacturing, which tends to be concentrated among standout businesses, and in particular industries – the automotive sector is highly automated, for example, while areas such as food production, mining and textiles are less so. Greater dissemination of technology across industries and companies of all sizes is crucial because tech-based productivity increases are the only way for the manufacturing sector in a country such as the US to compete with China or other nations that have cheaper labour costs. While building ships or chips or even cars in the US isn't going to replace the jobs of the 1990s, it's important to keep a healthy level of industrial production in large regionalised economies (the Americas, Europe and China would all fit that description) for national security and resiliency. Supply chain disruptions happen for all kinds of reasons, and the world shouldn't put all its eggs in one basket. That said, the changing nature and number of manufacturing jobs raises important questions about where labour market growth will come from. In the US, healthcare has replaced manufacturing over the last three decades as the top employer in most states. Some of this is down to the fact that Americans are getting older and richer and spending more on medical treatment. Some of it is because they are fatter and less healthy than they should be and have a highly inefficient and fragmented healthcare industry that incentivises expensive procedures and medications rather than prevention. And some of it is down to the fact that healthcare can't, in most cases, be outsourced. But an increasing number of healthcare jobs can be improved or even replaced by technology. And here, changes in the manufacturing sector provide a window into what is coming down the pike for America's fastest-growing industry. Healthcare costs in the US are high and growing faster than overall inflation. Service quality is quite mixed, and workers are both in short supply and less well trained than they should be. Technology penetration is low. My guess is that this will present an opportunity for artificial intelligence . Doctors may be the shipbuilders of the future, in a labour market that will be defined – as it always has been – by technology disruption. – Copyright The Financial Times Limited 2025
Straits Times
21-07-2025
- Business
- Straits Times
Tech shocks to industry have only just begun
A few weeks ago, I had one of those 'blink' moments that changed my view of the labour market in America. I was in a shipbuilding factory in Marinette, Wisconsin, owned by the Italian company Fincantieri. Among other things, they build giant frigates for the US Navy, vessels that are more than 120m long and many storeys high. It used to take hundreds of men years to do the kind of metal bending this takes. But in this massive building, a little more than the size of a football field, I counted fewer than two dozen workers. They were directing robotic welding arms to carve massive pieces of steel in a fraction of the time that hand blasting takes. Virtual-reality helmets helped them to exactly match construction on new builds to parts yet to be fitted, something that used to involve guesswork and paper blueprints. Even painters were wearing sci-fi type 'exosuits' (think Matt Damon in the movie Elysium) to make their jobs exponentially easier and more comfortable.
Reuters
18-07-2025
- Business
- Reuters
Fincantieri set to pick Telecom Italia's cybersecurity boss to head defence unit, sources say
ROME, July 18 (Reuters) - Italy's Fincantieri ( opens new tab is poised to appoint Eugenio Santagata, a former army official and top executive at Telecom Italia's ( opens new tab cybersecurity unit Telsy, to head its defence division, two sources familiar with the matter told Reuters. The shipbuilder is working to position its defence business and submarine arm to tap a big rise in European military spending. Only weeks after being confirmed at the helm of the state-controlled company, Chief Executive Pierroberto Folgiero launched a formal search for a successor to Dario Deste, general manager of the naval vessels division who is due to retire on August 31, the sources said. Fincantieri and Telecom Italia (TIM) declined to comment. Santagata has also been TIM's chief public affairs and security officer since 2022 and was a captain in the Italian army. In its search, Fincantieri assessed both internal and external candidates, one of the sources added. Santagata's candidacy is supported by the Italian government, which owns over 70% of Fincantieri's capital, the sources said, speaking on condition of anonymity. In its industrial plan, due to be revised by the end of the year, the shipbuilder has projected the naval division will account for 30% of total revenues in 2027 from 20% in 2024, with increasing profit margins. Analysts expect these forecasts to be improved as geopolitical tensions boost defence spending. "Forecasts are predominantly driven by growth in the Naval segment, supported by a number of export opportunities in Europe, in Saudi Arabia, and the Far East," Mediobanca wrote in a recent report, referring to Fincantieri. The group is also in a position to increase its production capacity quickly given it builds both civil and military ships, Folgiero recently told Italian daily Corriere della Sera.
Associated Press
16-07-2025
- Business
- Associated Press
CORRECTING and REPLACING Fincantieri Brings Together Thought Leaders to Discuss U.S. Shipbuilding Renaissance
WASHINGTON--(BUSINESS WIRE)--Jul 16, 2025-- Please replace the release with the following corrected version due to multiple revisions. This press release features multimedia. View the full release here: In his opening remarks at the July 15 Fincantieri event, Pierroberto Folgiero, CEO and Managing Director, Fincantieri, said: 'This is a defining moment for American shipbuilding—and Fincantieri is here to stay. We are not just investing in infrastructure; we are investing in the future of maritime security, industrial innovation, and the skilled workforce that powers it. With a new management team leading our U.S. operations, we are accelerating our commitment to deliver next-generation capabilities in full alignment with U.S. strategic priorities.' The updated release reads: FINCANTIERI BRINGS TOGETHER THOUGHT LEADERS TO DISCUSS U.S. SHIPBUILDING RENAISSANCE Fincantieri, the global leader in high-complexity shipbuilding, hosted 'FULL SPEED AHEAD: The U.S. Shipbuilding Renaissance' yesterday in Washington, D.C., bringing together senior voices from government, industry, and the national security community to examine the strategic future of American maritime power. The event opened with remarks from George Moutafis, newly appointed CEO of Fincantieri Marine Group (FMG), and Jan Allman, CEO of Fincantieri Marinette Marine, who reaffirmed the company's long-term commitment to the United States through its unique 'System of Shipyards' across Wisconsin. This advanced industrial network—operating in Marinette, Sturgeon Bay, Green Bay and Florida —employs more than 3,000 people and stands as a cornerstone of Midwest manufacturing resurgence. Moderated by Vice Adm. Rick Hunt, President of FMM, the expert panel featured Dr. CynthiaCooke (Center for Strategic and International Studies), Hon. Russell Rumbaugh (Atlantic Council), and Dr. Stacie Pettyjohn (Center for a New American Security). The discussion focused on the evolving defense-industrial landscape and how the U.S. can rebuild a resilient, sovereign shipbuilding base. Closing the event, Pierroberto Folgiero, CEO and Managing Director of Fincantieri, stated: 'This is a defining moment for American shipbuilding—and Fincantieri is here to stay. We are not just investing in infrastructure; we are investing in the future of maritime security, industrial innovation, and the skilled workforce that powers it. With a new management team leading our U.S. operations, we are accelerating our commitment to deliver next-generation capabilities in full alignment with U.S. strategic priorities.' Looking ahead, Fincantieri is focused on strengthening every dimension of its U.S. presence. The company is accelerating the integration of artificial intelligence and advanced robotics across its operations, transforming production processes to deliver mission-driven platforms with greater efficiency and reliability. By digitalizing its shipyards and leveraging data-driven solutions, Fincantieri is setting new standards in industrial performance. With more than $800 million invested in U.S. facilities and over 900 suppliers across 43 states, Fincantieri brings to the table a proven industrial model, a resilient supply chain, and an experienced workforce of over 3,000 employees in Wisconsin. Leveraging its global expertise and advanced capabilities, Fincantieri stands ready to support the United States in strengthening its shipbuilding industrial base—through innovation, execution excellence, and long-term strategic partnership. * * * View source version on CONTACT: FINCANTIERI Press Office Tel. +39 040 3192111 [email protected] Relations Tel. +39 040 3192111 [email protected] KEYWORD: UNITED STATES NORTH AMERICA DISTRICT OF COLUMBIA INDUSTRY KEYWORD: OTHER MANUFACTURING MARITIME TRANSPORT OIL/GAS MILITARY MANUFACTURING ENERGY TRANSPORTATION DEFENSE TRAVEL SOURCE: Fincantieri Copyright Business Wire 2025. PUB: 07/16/2025 01:19 PM/DISC: 07/16/2025 01:19 PM
