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Antonio Palumbo and Pierfrancesco Vago.jpg
Technology that allows servicing and repair of future LNG powered cruise ships may be introduced to the shipyard

MSC Cruises and Palumbo Group to jointly operate Palumbo Malta Shipyard

In a new joint venture, Palumbo Group and MSC Cruises will run the Palumbo Malta Shipyard, with the cruise line taking a 50% stake in the yard and becoming an equal partner with current owner, Palumbo Shipyards.

As part of the agreement, MSC Cruises will use the Palumbo Malta Shipyard as the first port of call for its fleet in the Mediterranean, as well as for its local cargo ships and ferries. Access to shipyard repairs and the Palumbo Group Network will continue for other customers.

Antonio Palumbo, founder and chairman of Palumbo Group which has owned the shipyard for 10 years, said, ‘I am sure that the future will prove us right, leading this shipyard to consolidate itself as one of the most important multi-purpose structures in the markets of cruise, merchant and advanced-technology ships, providing refitting services, general maintenance and installation of eco-friendly systems.’

He went on to add, ‘Not least, the whole Maltese community will benefit from a new economic boost.’

Modifications 

A major upgrade to the shipyard is envisaged in order to enhance its cruise lines focus, while serving cargo, ferry and offshore ships. Technology that enables improved servicing and repair of new LNG powered cruise ships — including those currently being built for MSC Cruises — is being considered. 

‘I am proud to be forming this joint venture with Mr. Palumbo and his group today,' said Pierfrancesco Vago, executive chairman, MSC Cruises. 'This is a natural culmination of our already warm and close relationship that has developed from the professionality he has shown over the years. We look forward to the professional service and repairs our vessels will receive.’

Palumbo Malta Shipyard

Located in Malta’s harbor, the Palumbo Malta Shipyard is one of the largest of its kind in Europe, comprising four dry docks and offering refit, repair and maintenance to vessels of many sizes.

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