Nor Cruises Deal Could Give CSSC First Foreign Large Cruise Order
The agreement was signed Wednesday at a Hamburg maritime trade fair, includes options for three more vessels and calls for the proposed ships to use Fincantieri designs.
Nor Cruises has signed a memorandum of understanding with Shanghai Waigaoqiao Shipbuilding for two roughly 80,000-ton cruise ships, with options for three more. The Norwegian company and the China State Shipbuilding Corporation subsidiary signed the agreement Wednesday during the SMM Hamburg maritime trade fair.
If converted into a firm contract, the agreement would give CSSC its first large cruise ship order from a foreign company. Waigaoqiao listed the proposed vessels at 84,000 tonnes each, while Cruise Industry News reported a figure of 82,000 tons.
The ships would use designs from Fincantieri. No construction timetable, contract value or delivery schedule was disclosed.
“Though an MOU is not automatically an order or construction contract, it still represents a breakthrough,” said Zeng Ji, a professor of ocean science and engineering at Shanghai Maritime University. He said conversion into a formal order would give Chinese shipbuilders an opportunity to demonstrate their ability to complete cruise projects for foreign customers.
Financing remains a hurdle for Nor Cruises
Nor Cruises was incorporated in early 2023, initially under the name Venera Nor AS. Corporate records describe its business as technical and project consultancy for the maritime sector, while its 2025 annual accounts say the company was formed to build a cruise ship and must first secure additional capital.
The company raised $1.4 million in 2025 and reported $180,000 in shareholder loans. It has since raised another $310,000 and received $100,000 in additional shareholder loans. Its board said efforts to obtain funding in the Middle East had become more difficult because of conditions in the region, but it expected to pursue the remaining financing through equity or convertible loans.
Corporate filings list no registered employees, and the company’s registered address is at a shared office facility outside Oslo. Terje Berg Adolfsen is listed as general manager, with Knut Christian Abrahamsen serving as chair. Other board members are Svein Eloff Pedersen, Kjetil Bogstad and Ronny Bjornadal.
Adolfsen identifies himself as Nor Cruises’ CEO, while Pedersen lists his role as chief technology officer. Both have worked in maritime insurance, ship management and offshore operations. Neither responded immediately to requests for comment.
CSSC expands its cruise ship program
Fincantieri and CSSC began exploring cruise construction in China through cooperation agreements in 2014, followed by a joint-venture framework in 2016 covering cruise ship design and sales for Asian markets. In 2017, they joined Carnival Corporation in a binding agreement covering two ships and four options at Waigaoqiao.
That shipyard completed the 135,500-ton Adora Magic City, which entered service in January 2024 as China’s first domestically built large cruise ship. CSSC also signed a separate MOU with China Tourism Group in March covering two ships and has held discussions with Resorts World Cruises, operator of the StarDream Cruises brand.
European cruise shipbuilders carry delivery schedules into the mid-2030s. Clarksons counted a record 35 cruise ship orders totaling 4.31 million gross tons last year.
Waigaoqiao’s next delivery is the 142,000-ton Adora Flora City, the second vessel produced through its domestic cruise program. Approximately one-third of its equipment was sourced in China, and delivery is scheduled for November 6.
