Latest news with #PierrobertoFolgiero
Yahoo
27-05-2025
- Business
- Yahoo
Europe's largest shipbuilder says the continent must spend bigger and better on underwater defenses
The CEO of Fincantieri called on Europe to scale up its subsea defenses in the face of rising threats. Pierroberto Folgiero told the FT it's time for Europe to take "responsibility" for subsea defenses. This comes amid intensifying Russian threats and reduced US commitments to the region. The CEO of Italian shipbuilder Fincantieri said Europe needs to boost its subsea defenses amid intensifying threats and weakening US security guarantees. "The Mediterranean has always been populated by Russian and US submarines, it's up to us Europeans now to take responsibility for our underwater defence," Folgiero told the Financial Times in an interview published Tuesday. "If European countries are going to spend more on defence, we should spend better," he added. Since Russia's full-scale invasion of Ukraine in 2022, European military and political leaders have repeatedly accused Russia of sabotaging subsea cables that carry vital internet data and energy. European militaries have scaled up their protection, with a specialist NATO unit launched in January increasing the surveillance and patrols of the vital infrastructure. European defense firms are also boosting the development of technology to help underwater defenses. Fincantieri, Europe's largest shipbuilder, announced last week that it expects its underwater division, which makes submarines, underwater drones, and other technology, to double in size over the next few years, to account for 8% of group revenue by 2027, and bring in the equivalent of $930 million. When announcing its new subsea-focused strategy, the company said it would be partnering with Italy's Graal Tech to develop new subsea drone technology. Folgiero told the FT that Europe faces a range of subsea threats, and that it's boosting production to meet them. "Attention has focused on the Baltic Sea following the outbreak of the war in Ukraine," he said. "But the Mediterranean is twice as big as the Baltic and a crucial juncture from a geopolitical perspective." "This is why we are betting on underwater defence and technology and increasing our industrial capabilities," Folgiero added. Meanwhile, earlier this month German defense firm Helsing said it was working with the UK's Royal Navy to deploy new subsea drones to better monitor subsea infrastructure. Read the original article on Business Insider
Zawya
23-05-2025
- Business
- Zawya
Top shipbuilder Fincantieri seals Red Sea Authority deal
Saudi Arabia - Fincantieri, one of the world's leading shipbuilding groups, has announced that it has signed a MoU with the Saudi Red Sea Authority, the official regulatory body of the Kingdom of Saudi Arabia for coastal tourism in the Red Sea. This partnership marks a significant milestone in Fincantieri's expansion in the Kingdom and reinforces its commitment to sustainable growth in the Red Sea ecosystem, said the company in a statement. By consolidating its position in the rapidly expanding Saudi maritime market, Fincantieri sees tremendous potential for future growth and collaboration with local stakeholders across the civilian and military sectors, establishing itself as a trusted partner, it stated. Signed today (May 22) in Riyadh by Fincantieri's CEO and General Manager, Pierroberto Folgiero, and SRSA's CEO, Mohammed Al-Nasser, the agreement looks to explore collaborative opportunities in the development and management of maritime and coastal activities in the Red Sea region. Opportunities include the construction of luxury cruise ships, as well as the development of state-of-the-art maritime and tourist port facilities that cater to the growing demand for high-quality, sustainable infrastructure, it stated. On the Red Sea Authority collaboration, Folgiero said the partnership marks an exciting new chapter in Fincantieri's expansion in the region. "By combining our commercial strength, our expertise in shipbuilding, and our experience in designing and implementing underwater infrastructure and technologies with the forward-looking goals of the Saudi Red Sea Authority, we aim to contribute to the development of the Red Sea Region," he stated. "Our ambition is to help it become one of the world's top tourist destinations while ensuring the protection of its unique natural heritage, both above and below the sea surface," he added. As part of the company's strategic expansion in the region, Fincantieri also inaugurated the new offices in Riyadh of its local subsidiary, Fincantieri Arabia for Naval Services. Copyright 2024 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (
Trade Arabia
22-05-2025
- Business
- Trade Arabia
Top shipbuilder Fincantieri seals Red Sea Authority deal
Fincantieri, one of the world's leading shipbuilding groups, has announced that it has signed a MoU with the Saudi Red Sea Authority, the official regulatory body of the Kingdom of Saudi Arabia for coastal tourism in the Red Sea. This partnership marks a significant milestone in Fincantieri's expansion in the Kingdom and reinforces its commitment to sustainable growth in the Red Sea ecosystem, said the company in a statement. By consolidating its position in the rapidly expanding Saudi maritime market, Fincantieri sees tremendous potential for future growth and collaboration with local stakeholders across the civilian and military sectors, establishing itself as a trusted partner, it stated. Signed today (May 22) in Riyadh by Fincantieri's CEO and General Manager, Pierroberto Folgiero, and SRSA's CEO, Mohammed Al-Nasser, the agreement looks to explore collaborative opportunities in the development and management of maritime and coastal activities in the Red Sea region. Opportunities include the construction of luxury cruise ships, as well as the development of state-of-the-art maritime and tourist port facilities that cater to the growing demand for high-quality, sustainable infrastructure, it stated. On the Red Sea Authority collaboration, Folgiero said the partnership marks an exciting new chapter in Fincantieri's expansion in the region. "By combining our commercial strength, our expertise in shipbuilding, and our experience in designing and implementing underwater infrastructure and technologies with the forward-looking goals of the Saudi Red Sea Authority, we aim to contribute to the development of the Red Sea Region," he stated. "Our ambition is to help it become one of the world's top tourist destinations while ensuring the protection of its unique natural heritage, both above and below the sea surface," he added.
Yahoo
11-04-2025
- Business
- Yahoo
Fincantieri, Accenture form JV for digital innovation in maritime sector
Fincantieri and Accenture have formalised a partnership to create a new joint venture (JV) named Fincantieri Ingenium. Fincantieri NexTech, a subsidiary of Fincantieri, will hold 70% ownership in the JV and Accenture will hold the remaining 30%. The agreement follows a memorandum of understanding (MoU) signed in July 2024. The establishment of this JV is pending standard regulatory approvals. Fincantieri Ingenium aims to drive digital transformation within the cruise, defence, and port infrastructure sectors. The initiative aligns with the strategic objectives outlined in Fincantieri Group's Industrial Plan, focusing on enhancing digital service offerings and systems through advancements in technologies such as artificial intelligence (AI). The collaboration will merge Accenture's expertise in digital platforms, AI, connectivity, Internet of Things (IoT), cybersecurity, and service design with Fincantieri's technological proficiency in naval and defence sectors. One of the initial projects under Fincantieri Ingenium is the creation of Navis Sapiens, a digital ecosystem aimed at next-generation ships and the modernisation of existing fleets. This initiative encompasses three main areas, including the development of application services to enhance operational efficiency and lifecycle management. The establishment of a digital platform that supports these applications and incorporates advanced AI functionalities with a focus on cybersecurity is another area of focus. It will also include the creation of a marketplace for solution exchange, including third-party offerings, to provide 'high-value' services and facilitate new business models within the maritime sector. The first vessel featuring Navis Sapiens is projected to be operational by the end of 2025. Fincantieri CEO and general manager Pierroberto Folgiero said: 'With Fincantieri Ingenium, we strengthen our leadership position in technological innovation applied to shipbuilding and the naval engineering industry.' In conjunction with Navis Sapiens, the JV intends to improve real-time data exchange and connectivity between vessels and onshore systems, including ports and shipyards. This interoperability solution aims to enhance process efficiency across maritime and land-based operations, thereby boosting the competitiveness of Italian ports. Accenture Italy CEO Teodoro Lio said: 'We are excited about this joint venture with Fincantieri, which marks a significant step forward in maritime innovation and is a tangible example of collaboration between two organisations committed to transforming the market and creating new value.' In January this year, Fincantieri acquired the Underwater Armaments & Systems (UAS) business line from Leonardo by purchasing the entire share capital of WASS Submarine Systems (WASS), a newly formed entity that previously encompassed the UAS division. "Fincantieri, Accenture form JV for digital innovation in maritime sector" was originally created and published by Ship Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Yahoo
08-04-2025
- Business
- Yahoo
Viking and Fincantieri Announce World's First Hydrogen-Powered Cruise Ship and Two New Ship Orders
Debuting in 2026, the Viking Libra Will Be Capable of Operating with Zero Emissions; New Ship Orders Would Bring Viking's Ocean Fleet to 21 Ocean Ships by 2031 LOS ANGELES, April 08, 2025--(BUSINESS WIRE)--Viking® ( (NYSE: VIK) and Fincantieri today announced details of the Viking Libra, the world's first hydrogen-powered cruise ship, capable of operating with zero emissions. Already under construction at Fincantieri's Ancona shipyard, the Viking Libra is scheduled for delivery in late 2026. The Company's subsequent ocean ship, the Viking Astrea, which is also currently under construction and scheduled for delivery in 2027, will also be hydrogen powered. Classified as a small ship, as are all Viking ocean ships, the Viking Libra will have a gross tonnage of approximately 54,300 tons, with 499 staterooms that can host 998 guests. While the ship is considered a sister ship in Viking's award-winning ocean fleet, she will have a propulsion system based partially on liquefied hydrogen and fuel cells. This hybrid propulsion system will make her capable of navigating and operating with zero emissions, which would allow her to access even the most environmentally sensitive areas. Enabled by Isotta Fraschini Motori (IFM), Fincantieri's subsidiary specializing in advanced fuel cell technology, the ship's state-of-the-art propulsion system will be capable of producing up to six megawatts of power. "From the outset, we have designed our river and ocean ships thoughtfully to reduce their fuel consumption, and we are very proud the Viking Libra and the Viking Astrea will be even more environmentally friendly," said Torstein Hagen, Chairman and CEO of Viking. "Viking made the principled decision to invest in hydrogen, which offers a true zero-emission solution. We look forward to welcoming the world's first hydrogen-powered cruise ship to our fleet in 2026." "With the Viking Libra, we are not only delivering the world's first cruise ship powered by hydrogen stored on board, but we are also reinforcing our commitment to shaping the future of sustainable maritime transportation," said Pierroberto Folgiero, CEO and Managing Director of Fincantieri. "Furthermore, we are thrilled about Viking's decision to expand its fleet with the order of two additional ships, which reaffirms the strength of our partnership, and the trust placed in our expertise. This new order is a testament to our shared vision for a more sustainable cruise industry, as together we continue to set new standards for innovation and responsible shipbuilding." Viking remains focused on its well-defined long-term growth plans and committed to its strategy, continuing to be a global leader in experiential travel. As part of the Company's commitment to continue to grow capacity, Viking and Fincantieri also today announced that contracts have been signed for two additional ocean ships for delivery in 2031 and an option for two additional ocean ships for delivery in 2033. Based on the committed orderbook, the Company expects to take delivery of 26 additional river ships by 2028 and 11 additional ocean ships by 2031. With these orders, Viking will have 110 river ships in 2028 and 23 ocean and expedition ships in 2031. Media Assets For more information about Viking, or for images and b-roll, please contact vikingpr@ About Viking Viking (NYSE: VIK) was founded in 1997 and provides destination-focused journeys on rivers, oceans, and lakes around the world. Designed for curious travelers with interests in science, history, culture and cuisine, Chairman and CEO Torstein Hagen often says Viking offers experiences For The Thinking Person™. Viking has more than 450 awards to its name, including being rated #1 for Rivers, #1 for Oceans and #1 for Expeditions by Condé Nast Traveler in the 2023 and 2024 Readers' Choice Awards. Viking is also rated a "World's Best" for rivers, oceans and expeditions by Travel + Leisure. No other travel company has simultaneously received the same honors by both publications. For additional information, contact Viking at 1-800-2-VIKING (1-800-284-5464) or visit For Viking's award-winning enrichment channel, visit Cautionary Statement Concerning Forward-Looking Statements Certain statements in this press release constitute "forward-looking statements" within the meaning of the U.S. federal securities laws intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, but are not limited to, all statements other than statements of historical facts contained in this press release, including among others, statements relating to our business prospects and strategy, our expected fleet additions and other similar matters. In some cases, we have identified forward-looking statements in this press release by using words such as "anticipates," "estimates," "expects," "intends," "plans" and "believes," and similar expressions or future or conditional verbs such as "will," "should," "would," "may" and "could." These forward-looking statements are based on management's current expectations and assumptions about future events, which are inherently subject to uncertainties, risks and changes in circumstances that are difficult to predict or which are beyond our control. You should not place undue reliance on the forward-looking statements included in this press release or that may be made elsewhere from time to time by us, or on our behalf. Our actual results may differ materially from those expressed in, or implied by, the forward-looking statements included in this press release as a result of various factors, which are described in our filings with the U.S. Securities and Exchange Commission. Forward-looking statements speak only as of the date of this press release. Except as required by law, we assume no obligation to update or revise these forward-looking statements for any reason, even if new information becomes available in the future. All forward-looking statements attributable to us are expressly qualified by these cautionary statements. View source version on Contacts Email: vikingpr@
