Carnival Corporation and China State Shipbuilding Corporation (CSSC) are teaming up to explore the possibility of developing the Chinese cruise industry together.
According to the Chinese Ministry of Transport, China’s cruise market is expected to be one of the largest in the world, with 4.5 million passengers expected by 2020.
Signing a memorandum of understanding (MOU) at the Ninth China Cruise Shipping and International Cruise Expo in Tianjin, the two companies will explore a partnership which could include forming a shipbuilding venture which would also involve Fincantieri, the world’s largest cruise ship building company.
One of the venture's goals would be to design the first ever world class cruise ship to be built in China.
"This is really a breakthrough day for all of us at Carnival, as well as our friends at the CSSC and all Chinese travelers who are increasingly turning to cruises for their vacation experiences," said CEO of Carnival Corporation Arnold Donald.
"This landmark agreement enables us to work closely with our partners at the CSSC to fully explore the possibility of forming a joint venture to further develop China into a leading cruise market, supporting local economic development and bringing vacation enjoyment to millions. We look forward to getting to work and lending the expertise of many talented people across Carnival Corporation.”
The Chinese Ministry of Transport has over the last year been focused on making China a leading global cruise market, with investments in infrastructure and development of a strong cruise presence spurring growth.