Decoding the news. While global economies hold their breath over the potential fallout from US tariffs, Italy’s Fincantieri is positioning itself to benefit from a much more profound shift: the United States push to revive its shipbuilding industry—both civilian and military—a cornerstone of Donald Trump’s industrial policy agenda.
- This was evident on Saturday during the inauguration of the new MSC Terminal in Miami—the largest cruise terminal in the world.
- “The Italian government has supported and facilitated the construction of this infrastructure, born from the collaboration between MSC Cruises and Fincantieri,” explained Prime Minister Giorgia Meloni.
- She described it as “a symbol of Italy’s unique ability to combine tradition with innovation” and “an extraordinary showcase of Made in Italy and what we excel at.”
What they’re saying. At the inauguration of the new MSC Miami Cruise Terminal, Fincantieri CEO Pierroberto Folgiero emphasised that the Italian shipbuilding giant isn’t starting from scratch.
- “We are in a privileged position because we’ve had a presence in the U.S. for 15 years,” said Folgiero.
- “We have three shipyards in the Great Lakes region, both civil and military, and a facility in Jacksonville, Florida, for military ship maintenance. It’s a footprint that can be expanded.”
Reality check. Folgiero cautioned that any renaissance in US shipbuilding won’t happen overnight.
- “Heavy industry has slow biorhythms. Supply chains must be built, engineering skills cultivated, and a labour force must be trained. But with enough resources and commitment, it’s technically feasible in ten years.”
Strategically speaking. Folgiero’s remarks subtly but strategically recast Fincantieri’s US presence not just as a business opportunity but as a form of geopolitical proximity.
- His message: Fincantieri is not a foreign actor knocking at the door but an intensely localised player already embedded in the US industrial fabric.
Fincantieri champion. The Italian company employs roughly 3,000 people in the US and operates a large office in Washington, D.C.
- It builds offshore construction vessels domestically, applying its specialised expertise in complex ship types.
- Fincantieri already adheres to local supply rules on military projects—a structure enforced by the Jones Act and similar provisions across naval procurement.
Beyond tariffs. While tariffs dominate headlines, Folgiero focuses on value creation from within—a framing that appeals to American industrial policy goals.
- This framing also positions Fincantieri as a reliable partner for Washington, reinforcing corporate credibility and Italy’s strategic relevance to the US.
- It’s an innovative, forward-looking play for the company and Italy in an era defined by economic nationalism and regionalised production.
- “Never before has the maritime economy been so central to our national strategies,” said Meloni: “It represents a key asset we are pursuing with great determination—because it is who we are that, in fact, compels us to do so.”
(Photo: Fincantieri video, frame)
