Strategic partnership with Wartsila
Our attorneys represented Carnival Corporation, the world’s largest cruise company, in its twelve-year strategic collaboration agreement with Wärtsilä, a Finnish corporation which manufactures and services power sources and other equipment, for engine maintenance, monitoring and joint continuous improvement efforts related to cruise ship safety and reliability. The long-term agreement is estimated to be valued at EUR 900 million. Under the agreement, Wärtsilä will provide engine maintenance and monitoring for Carnival’s ships, utilize innovative performance tracking technologies to optimize and predict operational and maintenance demands, and collaborate in ongoing planning. The performance-based agreement provides for shared financial incentives and exposure based on outcomes for both companies.