Name

Meyer Turku Oy

Legal name

MEYER TURKU Oy

Website

https://meyerturku.fi

Company type

Private

Founded year

1737

Operating status

Operating

Headcount range

1,001–5,000 employees

Ownership category

akta.pro rank

Headquarters

HQ city

Turku

HQ country

Finland

HQ region

Europe

Offices4 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Personnel, Operations, Infrastructure, Technology or R&D, Marketing or Sales

Revenue model

1. Cruise Ship Construction: Meyer Turku designs and builds custom cruise ships for major cruise line operators. Revenue is generated through project-based contracts for new vessel construction, with each ship being a highly customized, one-of-a-kind project. The company builds cruise ships for Royal Caribbean, Carnival, TUI Cruises, Costa Cruises, and other operators.
2. Ship Refurbishment and Life-Cycle Services (MEYER RE): MEYER RE subsidiary offers renovation services, cabin installations, design services (e.g., energy management systems), and ship conversion to renewable fuels throughout a ship's operational life.
3. Government Vessel Construction: Construction of multipurpose vessels for Finnish Border Guard, including offshore patrol vessels with estimated order value of 448 million euros

Go-to-market motion1 record

Distribution channels2 records

Marketing channels6 records

Core offering

Meyer Turku Oy designs and builds large, technologically advanced cruise ships (including the Icon Class for Royal Caribbean, Mein Schiff series for TUI, Costa Toscana, and Carnival Celebration) from its nearly 300-year-old Turku shipyard. The company also constructs specialized government vessels such as the Turva-class offshore patrol ships for the Finnish Border Guard and provides lifecycle/refurbishment services through its MEYER RE subsidiary. Meyer Turku holds approximately 15% of the global cruise shipbuilding market and is part of the family-owned Meyer Group.

Product overview

Meyer Turku Oy is a Finnish shipbuilding company specializing in the design and construction of large, technologically advanced cruise ships. The company operates from the Turku shipyard (shipbuilding since 1737) and maintains a comprehensive product portfolio organized around four core business areas: (1) World-class cruise ships including the Icon Class series for Royal Caribbean, Mein Schiff series for TUI Cruises, Carnival vessels, and Costa ships; (2) Government vessels such as Turva-class offshore patrol vessels for the Finnish Border Guard; (3) After-market services through MEYER RE for ship modernization and lifecycle support; and (4) Innovative floating infrastructure via MEYER Floating Solutions. The company also operates three subsidiaries—Piikkio Works (cabin manufacturing), Shipbuilding Completion Oy (interior fit-out), and ENG'nD Oy (engineering design)—complementing its core shipbuilding capabilities. Meyer Turku holds approximately 15% of the global cruise shipbuilding market and its order book extends through 2036, with a partnership network of around 1,350 companies.

Differentiator

Problem solved

Functional benefit

Products and services

• Icon Class Cruise Ships Advanced cruise ships built for Royal Caribbean Group featuring LNG propulsion, fuel cell technology, air lubrication systems, and waste heat recovery. Represents the world's most technologically advanced cruise vessels under a framework agreement extending through 2036.
• Mein Schiff 7 A 111,500 GT cruise ship built for TUI Cruises featuring methanol readiness capability for future alternative fuel operation.
• Carnival Celebration Carnival Cruise Line's 50th anniversary vessel, an LNG-powered cruise ship featuring six themed zones, BOLT roller coaster, and the latest environmental technology.
• Costa Toscana 185,000 GT cruise ship powered by liquefied natural gas with desalination plants, intelligent energy efficiency systems, and various cutting-edge environmental technologies, delivered to Costa Cruises.
• Mardi Gras 180,000 GT LNG-powered cruise ship featuring Bolt roller coaster, six distinctive zones, and approximately 2,600 staterooms, delivered to Carnival Cruise Line.
• Turva-Class Offshore Patrol Vessels Multipurpose 98m patrol vessels for the Finnish Border Guard with dual-fuel hybrid propulsion, designed for maritime safety, environmental protection, and mass evacuation capabilities in the Baltic Sea.
• MEYER RE Lifecycle Services After-market services for cruise ships including MEYER RETHINK (energy optimization), MEYER REVALUE (modernization), MEYER CARE (maintenance solutions), and conversion to renewable fuels throughout a ship's operational life.
• MEYER Floating Solutions Floating infrastructure solutions including floating hotels, surf platforms, and other innovative floating constructions for tourism and hospitality sectors.

Quantifiable outcome

• Contributing over 1 billion euros annually to Finland's economy
• +3 more outcomes

Named customers5 records

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature9 records

Partnerships

Seven partnerships are on record, tiered flagship, core, major and minor.

• Royal Caribbean GroupflagshipStrategic or Co-development Partner · 10 June 2026Royal Caribbean and Meyer Turku extended their shipbuilding partnership through 2036. Meyer Turku has built 25 ships for Royal Caribbean over three decades. Currently constructing Icon Class vessels with orders through Icon 7 (2030).
• Aalto UniversitycoreStrategic or Co-development Partner · 26 May 2026Meyer Turku announced an EUR 800,000 donation to Aalto University to create a professorship in interdisciplinary naval architecture. The initiative aims to develop skills related to sustainable, smart maritime technologies to support Finland's maritime industry and global cruise tourism.
• Uudenkaupungin Työvene (Summa Defence)majorStrategic or Co-development Partner · 13 February 2026Uudenkaupungin Työvene, a subsidiary of Summa Defence, is building offshore patrol vessels in cooperation with Meyer Turku. The company acquired Olkiluoto shipyard in June 2025 and is constructing Finnish Border Guard vessels in cooperation with Meyer Turku.
• KonecranesmajorTechnology or Integration · 1 June 2025Konecranes signed a four-year service agreement with Meyer Turku to maintain nearly 200 cranes at the Turku shipyard, including units from 63kg to a 1,200-tonne Goliath gantry crane. The partnership emphasizes reliable maintenance and digital optimization for maritime sector operations.
• Åbo AkademiminorStrategic or Co-development Partner · 5 October 2023Partnership agreement to deepen cooperation on green transition. University and Meyer Turku collaborating on sustainability research and development.
• Baltic OperatormajorStrategic or Co-development Partner · 20 December 2022Polish shipbuilder constructing hulls for Finnish Border Guard's Turva-class offshore patrol vessels. Based in Gdansk, part of Grupa Przemysłowa Baltic.
• Finnish Ministry of Employment and the Economy (TEM)coreStrategic or Co-development Partner · 13 December 2022Joint declaration signed to develop sustainable shipping and shipbuilding, and strengthen Finnish maritime cluster. Includes roadmap for climate-neutral ship production in Finland.

Scale indicators16 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Fincantieri: Italy-based global shipbuilding group and the largest cruise ship builder in the world; directly comparable to Meyer Turku in large cruise vessel construction, serving the same Royal Caribbean, Carnival, and Costa customers with overlapping product lines.
• Chantiers de l'Atlantique: France-based shipyard and one of the world's three major cruise shipbuilders; builds large LNG-powered cruise vessels for Royal Caribbean, MSC, and other operators, directly competing with Meyer Turku for cruise newbuild contracts.
• Meyer Werft: German cruise shipbuilder and sister company within the Meyer Group; produces large cruise vessels (Icon-class-adjacent platforms) using shared technology, comparable build methodology, and overlapping customer base — the closest operational peer.
• Neptun Werft: German shipyard also owned by Meyer Group; builds river cruise vessels and offshore structures; comparable as a Meyer-family-controlled cruise/leisure vessel builder with shared engineering and ownership structure.

Broad incumbents

• Italian Sea Group: Italy-based shipbuilder operating in luxury yachts and large vessels; comparable in build complexity and customization but focused on the yacht/aftermarket segment rather than commercial cruise newbuild.
• Damen Shipyards: Netherlands-based global shipbuilder with broad portfolio including naval, offshore, and passenger vessels; comparable for government/multipurpose patrol vessel work alongside Meyer Turku's Finnish Border Guard contract.
• Vard (Fincantieri subsidiary): Norway-based shipbuilder owned by Fincantieri, building offshore and specialized vessels; comparable for its parent's shipbuilding platform and design/engineering services overlap with Meyer Turku's ENG'nD subsidiary.
• Hyundai Heavy Industries: South Korea-based global shipbuilding giant across commercial vessels, offshore, and naval; comparable as a large-scale, capital-intensive shipbuilder with environmental propulsion capability entering cruise-adjacent segments.

Regional players

• Naval Group: France-based naval defense shipbuilder; comparable for government/military patrol vessel construction in Europe, with overlapping customer type (national governments) and complex shipbuilding expertise.
• Rauma Marine Constructions: Finnish shipyard operating in similar Nordic geography; comparable as a domestic Finnish marine construction competitor with overlap on multipurpose vessels and shipbuilding expertise.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/@meyerturkushipyard
• Facebookfacebook.com/profile.php?id=100088067473066
• LinkedInlinkedin.com/company/meyer-turku
• Instagraminstagram.com/meyerturku
• Xx.com/meyerturku

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Subsidiaries3 records

Funding overview

Funding rounds2 records

Investors2 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Meyer Turku Oy