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Wärtsilä signs a 12-year-agreement with the world's largest cruise company Carnival corporation

 Wärtsilä Corporation Press Release 25.1.2017

"Wärtsilä and Carnival Corporation & plc, the world’s largest cruise company, announced today that they have signed a comprehensive, 12-year agreement that strengthens their existing partnership and joint continuous improvement efforts to maintain the highest possible levels for cruise ship safety and reliability. The performance-based agreement provides for shared financial incentives and exposure based on outcomes for both companies.

The value of the long-term agreement is approximately EUR 900 million. The expected revenues for 24 months, approximately EUR 150 million, will be included in Wärtsilä’s order book for the first quarter of 2017. As the contract becomes effective as of April 1, the expected revenues for 2017 are EUR 56 million.

According to the agreement, 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." 

 

Source: http://www.wartsila.com/media/news/25-01-2017-wartsila-and-carnival-corporation-announce-strategic-performance-based-partnership 

Picture: CARNIVAL/WÄRTSILÄ