In the wake of the news of Carnival’s MOU from last month that Carnival Corporation is building a bigger presence in China, comes this latest release that the world’s largest cruise ship operator has officially signed another MOU to explore opportunities for a potential joint venture focused on the construction of cruise ships for the Chinese market. This agreement follows Carnival’s MOU from last month with China’s largest shipyard, potentially paving the way for the first three-nation collaborative effort to build world-class cruise ships in China.
The MOU is a partnership between Carnival Corporation and Italy-based Fincantieri and includes the possibility of forming a shipbuilding joint venture that could become a three-way arrangement involving Carnival Corporation, Fincantieri and CSSC. In concept, the potential shipbuilding joint venture would be the first three-nation collaborative effort to build the first-ever, world-class cruise ships constructed in China.
“Building on our groundbreaking MOU signed with CSSC last month, this new agreement with Fincantieri gives us the opportunity to work with our longtime partner to further explore a formal joint venture that could forever change the landscape of shipbuilding in China,” said Arnold Donald, CEO of Carnival Corporation. “After working diligently to get a deep understanding of China’s aggressive cruise ambitions, we’re collaborating with two of the world’s top shipbuilders in Fincantieri and CSSC to establish a framework for a world-class Chinese shipbuilding venture designed to help accelerate growth and demand for cruising in China in the years to come.”
Fincantieri’s Chief Executive Officer, Giuseppe Bono, said: “This agreement with Carnival, to which we are bound by a consolidated partnership, and with CSSC testifies our determination in pursuing a strategy that increasingly establishes Fincantieri as a global and reference player in the sector, with strong presence in all the markets that can ensure a future in our business. Indeed, new international scenarios are emerging, and with them new challenges arise in addition to existing ones, and we are glad to contribute together with Carnival to develop the cruise shipbuilding capacity in China for the Chinese market. For this reason, our commitment must be ever-stronger in order to enable us to take advantage of such opportunities and continue to be an example of Italian style in the world.”
China is fast becoming a big player in the global cruise market and according to the Chinese Ministry of Transport (MOT) could become the second largest cruise market after the U.S.As part of the MOU signed with CSSC last month, Carnival Corporation will explore other joint venture. Carnival’s Costa Cruises is adding the Costa Serena in China next April 2015. The ship joins Costa Atlantica, Costa Victoria and Sapphire Princess already home ported there.
For investors or interested parties, Carnival Corporation & plc is traded on both the New York and London Stock Exchanges and is the only group in the world to be included in both the S&P 500 and the FTSE 100 indices. Additional information can be found on www.carnival.com, www.hollandamerica.com,www.princess.com, www.seabourn.com, www.aida.de, www.costacruise.com, www.cunard.com,www.ib
Check out the video for a little ship oops in China.