Page 54 - BILANCIO DI SOSTENIBILITÀ 2019 RISULTATI E PROSPETTIVE

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Design and The design and construction of passenger ships requires in-depth knowledge of naval
construction: technology and careful consideration of safety and reliability issues as well as the – increasingly
important – environmental sustainability aspects. For this reason, together with Carnival for
shipbuilding many years Costa has entrusted its new building projects to the best shipyards, concentrating
its investments in European yards with an international standing. European shipyards stand
out on account of their quality, expertise and technological know-how; it is precisely because
of this process of capacity building and reciprocal influence that Costa and Carnival are at
the forefront of contemporary shipbuilding, thus contributing to advancement of the cruise
industry and global shipping in general. Europe’s shipyards build the world’s most innovative
vessels, making the construction, maintenance and conversion of ships a real growth industry.
Over time, Costa has forged solid links with Fincantieri in Italy and Meyer Werft in Germany
and Finland, generating a very positive economic impact. According to a study commissioned
by the Costa Group and published by Deloitte in 2019, our total shipbuilding impact across
Europe amounts to €4.5 billion and 20,300 full-time jobs. Naturally, the largest shipbuilding
impact is concentrated in the shipyard locations – Italy, Germany and Finland – however the
benefit also extends to other countries, including Romania, Norway, Sweden, the UK, Poland
and the Netherlands. Shipbuilding accounts for a significant portion (36%) of our overall
generated value, due to the investment plan that the Costa Group has launched with the
construction of new ships at the Fincantieri shipyards in Marghera and Monfalcone (Italy) as
well as at the Meyer Werft shipyards in Papenburg (Germany), and in Turku (Finland), with
all that this means in terms of indirect and induced impacts. Costa also invests in dry-docking
and in upgrades on its existing ships, introducing state-of-the-art technology and amenities
influencing global shipping as a whole. For example, at Group level, Costa owns a 33% stake
in Chantier Naval De Marseille, the Mediterranean’s premier ship repair and refitting yard,
and a 61% stake in Ecospray Technologies, leader in the production of scrubbers (Advanced
Air Quality Systems - AAQS), installed fleetwide.
The yards are accompanying the Company on the path to change in the direction of a progressive
and substantial reduction of environmental impact of operations without compromising
on safety, in line with Costa’s top priorities. By virtue of our partnership with Meyer Werft,
the construction of Costa Smeralda, Costa Cruises’ first LNG-fueled ship, was completed
in Turku and she was delivered at the end of 2019. We chose Meyer Werft because of its
record of excellence and the fact that this yard has always invested in cutting-edge facilities,
machinery and IT systems; each year Meyer Werft engages around 200 new ship builders
and an extensive range of professionals, who work on each stage of the vessel construction
project. Costa’s second ship powered by LNG will be Costa Toscana, also currently being built
at Meyer’s Turku yard. Smeralda and Toscana are integral parts of the strategic plan for carbon
footprint reduction, defined by Carnival Corporation and fully implemented by Costa Cruises.
2019 saw the delivery of Costa Venezia, the first Costa ship designed specifically for the
Chinese market, built in Italy at Fincantieri’s Monfalcone yard. This new build involved
thousands of shipyard workers as well as employees of allied industries. Thanks to the long-
standing alliance between Fincantieri, Carnival and Costa Cruises, we produced a highly
innovative vessel that showcases the finest Italian manufacturing tradition and projects it on
the international stage. The Asian market’s enthusiastic response to Costa Venezia following
her entry into service resulted in placement of an order for a sister ship Costa Firenze, which
is currently under construction at Fincantieri’s Marghera yard. Costa Firenze will also be
purpose-built for the Chinese market, where Costa Cruises was the first company to start
operating back in 2006 and is currently the market leader. The sister ships feature a series
of brand new innovations, letting guests enjoy an encounter with Italian culture and lifestyle.
Meanwhile, confirming our determination to invest locally in Italy, Costa chose the port of
Genoa for major refurbishment of one of the ships in its fleet; the project, which was worth
over €50 million, took one month and was carried out at the San Giorgio del Porto yard. As a
result of this refitting, Costa neoRiviera was converted into the new AIDAmira, now operating
for Costa Cruises’ sister brand AIDA Cruises. This re-branding operation entailed work for
around 1000 people, including approximately 150 yard employees. We chose San Giorgio del
Porto as our partner for the job because of the Genoese shipyard’s technical know-how and
expertise; at the same time, we were aware that we were providing support for development
of the city’s naval repair and refitting industry, with a positive knock-on effect for the local
economy.