Fincantieri plans to come up with a new five-year business plan as soon as it is able to ascertain the full impact of the coronavirus pandemic.

The world's foremost builder of cruiseships has halted operations at its Italian yards as of 16 March in an effort to help contain the virus within that country.

"In consideration of the uncertainty regarding the impacts on public health, and on the country’s production and social and economic aspects, the group will disclose to the market a new 2020-2024 business plan as soon as the emergency permits a clear evaluation of its possible impacts,' the Fincantieri group said in a statement.

"Information on 2020 business performance will be disclosed on the publication of the interim financial reports."

Covid-19 has had a disastrous effect on the worldwide cruise industry as a result of onboard outbreaks that have led to cancelled voyages, quarantines and huge fiscal losses.

Carnival Corp, Royal Caribbean Cruises and Norwegian Cruise Line Holdings — Fincantieri's biggest customers representing about 80% of the entire market — have fallen to their knees in recent weeks amid suspended operations and pretty much no revenue for the foreseeable future.

These industry juggernauts — known collectively as "The Big Three" — alone have at least a dozen ships on order with Fincantieri through 2027 that together are worth more than $9bn.

Fincantieri said it will do its best to "safeguard the integrity" of its multibillion-dollar backlog but will apply force majeur at its yards as needed to lawfully reschedule deliveries.

"Fincantieri believes that its equity and economic structure will successfully cope with the repercussions of the emergency, should the crisis cease its effects within a reasonable time," it said in its fourth-quarter earnings report.

The Guiessepe Bono-led company posted a €494m ($541m) loss for the last three months of 2019 versus a €290m profit a year earlier, primarily due to its underperforming Vard subsidiary.

Revenues for the respective periods came in at €4.31bn and €3.97bn.