Wärtsilä seals deal worth close to EUR 1 billion
Finnish engineering company Wärtsilä has signed a 12-year agreement with Carnival Corporation, the world’s largest cruise company.
The performance-based agreement builds upon the two companies’ existing partnership and is worth approximately 900 million euros.
The expected revenues for 24 months are approximately 150 million euros.
All engine maintenance and monitoring work for 79 of Carnival Corporation’s vessels will be handled by Wärtsilä, and ongoing planning will be a collaboration between both companies. Approximately 400 Wärtsilä engines are covered under the agreement. Potential savings in fuel costs are estimated to reach tens of millions of dollars per year.
“In addition to reducing our costs, the long-term agreement increases safety and operational efficiency – two critical advantages in the fast-growing cruise market,” says Bill Burke, chief maritime officer for Carnival Corporation.
Meanwhile, Wärtsilä also announced it has inked a five-year maintenance agreement with Estonia based Tallink Grupp. The deal sees the Finnish company optimising the performance of the new RoPax ferry M/S Megastar, along with enhancing its availability and reliability, and improving its financial predictability.
The ship will ply the Tallinn – Helsinki route across the Gulf of Finland from 29 January.