Sunday, 2 April 2017

Carnival joint venture to acquire China-built cruise ships

The global leisure travel company, Carnival Corporation, recently announced that its cruise joint venture in China would acquire China-built cruise ships.

An agreement to this effect was signed at the Great Hall of the People in Beijing, attended by Chinese President Xi Jinping, Italian President Sergio Mattarella and company representatives.

Under the agreement, the cruise joint venture will have two cruise ships built by a China-based shipbuilding joint venture comprising China State Shipbuilding Corporation and the Italy-based Fincantieri S.p.A.

The cruise joint venture also has the option to order four more China-built cruise ships.

The ships will be built with supervision and support from Carnival Corporation, and the first ship is expected to be ready in 2023.

Arnold Donald, the CEO of Carnival Corporation, said that the company was proud to order its first China-built cruise ships and play a meaningful role in developing cruise shipbuilding capabilities in China.

He added that the deal demonstrated the company's commitment to helping China become a leading cruise market.

The US-based company operates several popular cruise brands in China such as Costa and Princess. In 2015, the company formed a joint venture in China with CSSC and China Investment Corporation.

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