Minister Rehn: Cruise ship orders will bring work, new jobs and innovations

Ministry of Economic Affairs and Employment 11.10.2016 7.22 | Published in English on 11.10.2016 at 11.22
Press release
Minister Rehn: Cruise ship orders will bring work, new jobs and innovations

“Meyer Turku’s Icon ship orders, confirmed today, 11 October 2016, will have a major impact on employment at the Turku shipyard directly and via subcontractors throughout Finland,” says Minister of Economic Affairs Olli Rehn. “Within a month the yard has received orders for four cruise ships,” he adds.

Meyer Turku has signed a memorandum of agreement with the US company Royal Caribbean Cruises for the order of two new-generation cruise ships. The ships will be delivered in 2022 and 2024. The orders for these large vessels of 200,000 gross tonnage represent a new generation of LNG-powered cruise ships. The ships will incorporate a number of innovations, such as fuel cell technology, which is a very energy efficient and clean way of making electricity.

“At the yard itself we will need 500 new employees. In all, the combined impact of the orders received today is in excess of 15,000 person-years. The orders will also lead to extensive investment at the yard, which will also have a significant impact on employment,” explains Minister of Economic Affairs Olli Rehn.

“The order demonstrates that the research and development input of the yard, its subcontractor network, the Ministry of Economic Affairs and Employment, and Tekes has produced results. The new innovations, for example in energy and materials efficiency, and above all the effective and skilled partnership network, will keep the Finnish cruise ship industry at the leading edge globally,” says Minister Rehn.

The Minister also emphasises that financing is a key factor in projects of this kind. “The Government has raised the Finnvera export guarantee authorisations by EUR 10 billion, to EUR 27 billion, which is important for cruise ship exports, and the export credit financing authorisations have been tripled to EUR 22 billion.  These increases have been a significant factor in obtaining the orders for Finland,” says Minister Rehn.

Inquiries:
Hannu Väänänen, Special Adviser, Ministry of Economic Affairs and Employment, tel. +358 50 410 4909
Petri Peltonen, Under-Secretary of State, Ministry of Economic Affairs and Employment, tel. +358 50 626 63