Nor Cruises has entered into a memorandum of understanding (MOU) to acquire up to five new 82,000-ton cruise ships, with the construction set to take place at Shanghai Waigaoqiao, a branch of the China State Shipbuilding Corporation (CSSC). This agreement was formally announced at a ceremony during SMM Hamburg, encompassing the initial order of two ships with options for three more.
If finalized, this would mark the first significant ship order from a foreign entity for CSSC, symbolizing a breakthrough for the Chinese shipyard. Although specific project details are yet to be disclosed, reports indicate that the designs for these new vessels may be sourced from Fincantieri.
Established in early 2023, Nor Cruises AS is a Norwegian company, initially formed as Venera Nor AS, and focused on technical and project consultancy within the maritime sector. The company’s annual reports for 2025 suggest that while they are aiming to build a cruise ship, significant capital still needs to be secured. They managed to raise $1.4 million and possess loans totaling $180,000 from shareholders, along with an additional $310,000 raised earlier this year, complemented by loans of $100,000.
The company is currently working on acquiring the financing necessary to proceed with their plans, primarily seeking funding from the Middle East, although this has posed challenges. Nonetheless, the board remains optimistic that conditions will improve, paving the way for additional financing through equity or convertible loans.
While Nor Cruises currently has no registered employees, Terje Berg Adolfsen is listed as the general manager and Knut Christian Abrahamsen as the chairperson. Adolfsen is noted to be the CEO, having previously held the COO position since 2018, and Pedersen, the company’s CTO, has been in the role since the same year, both bringing extensive expertise from the maritime industry.
In conjunction with Nor Cruises’ MOU, CSSC is reportedly progressing with an order from Adora Cruises, which recently announced plans to construct two large cruise ships in China as well.
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