ROME, Italy: Italian shipbuilder Fincantieri and Norwegian Line Holdings (NCL) have finalized a deal for four new cruise liners, marking the largest single order ever placed with the shipbuilding company.

A source close to the matter estimated the contract's value at 9 billion euros (US$9.34 billion).

Fincantieri has already delivered two ships for NCL, with a third vessel, the Norwegian Aqua, set to be handed over in the coming months. The latest order builds on this partnership, underscoring NCL's commitment to fleet expansion.

"The value of this agreement, subject to financing and other typical terms and conditions, is considered very important," Fincantieri said in a statement, noting that an original letter of intent was signed in April 2024.

The four new ships will be constructed at Fincantieri's Monfalcone shipyard in northeastern Italy, with deliveries scheduled in 2030, 2032, 2034, and 2036. Each vessel will weigh approximately 226,000 tonnes and accommodate more than 8,300 people, including crew members.

Fincantieri, which in November raised its full-year revenue forecast to over €8 billion, has been steadily expanding its shipbuilding operations while diversifying into the defense and underwater segments.

In May 2024, the company acquired Leonardo's UAS business, valuing the submarine unit at 415 million euros. CEO Pierroberto Folgiero has also signaled openness to collaborations with Thyssenkrupp's warship division, reflecting Fincantieri's broader strategic ambitions.

The company's stock has surged 106 percent over the past 12 months, making it one of the top performers on the Milan bourse. Following the cruise ship order announcement, Fincantieri shares rose as much as 5.6 percent in early trading before settling up 2.83 percent at 08:21 GMT.