Fincantieri and TUI Finalize Agreement for First New Builds in the UK Cruise Sector
Germany’s TUI Group has signed an agreement with Fincantieri to build two new cruise ships for its UK operation, Marella Cruises. This marks the first time the company will commission new builds specifically for the UK market and expands its existing relationship with Fincantieri, already collaborating on the German joint venture Mein Schiff.
The Memorandum of Agreement confirms that Fincantieri has reserved building slots with tentative delivery dates in 2030 and 2032, and the combined order value is over €2 billion (approximately US$2,2 billion). The finalization of the deal depends on securing financing and completing binding shipbuilding contracts.
Source: Marella Cruises
Although no details about the exact dimensions of the ships have been released, TUI indicated that they will be tailored for the UK market and maintain the premium positioning of the Marella Cruises brand. Recently, TUI highlighted the strong growth potential of the UK cruise sector, expecting annual market growth of 9 % until 2030. The parent company, TUI AG, projects an annual EBIT of between €130 and €150 million per ship and a Return on Invested Capital of 11–12 %.
Marella Cruises has a history dating back to the 1970s, with TUI reviving the brand in the 1990s and rebranding it as Marella Cruises in 2017. Currently, the brand operates five ships built between 1995 and 1997, each accommodating around 2 000 passengers. The fleet includes vessels acquired from Royal Caribbean Group and Celebrity Cruises, with the most recent addition, Marella Voyager, joining in 2023.
TUI executives cited challenges due to an aging and relatively smaller fleet compared to competitors. As a result, the brand is considering fleet renewal (“re-fleeting”) and newbuild options, despite European cruise shipyards being fully booked until 2030. Meanwhile, TUI continues to explore partnership opportunities, building on past ventures like Mein Schiff, a joint project with Royal Caribbean.
Fincantieri also celebrates adding another brand to its order book, as it wraps up construction on the second cruise ship for TUI – the Mein Schiff Flow, due for delivery in 2026. The shipyards are busy with orders from multiple major players in the cruise industry, including Carnival Corporation, Norwegian Cruise Line, Oceania Cruises, and others, along with luxury orders for Four Seasons.
