Published on Thursday, October 22, 2015

Carnival confirms Chinese joint venture


Carnival confirmed this week that it has formed a joint venture in China to create a multi-ship domestic cruise brand in the Chinese market.

It is partnering with China State Shipbuilding Corporation (CSSC) and China Investment Corporation (CIC) in the country, which it said it expects to become the largest cruise market in the world.

The agreement was formalised at a signing ceremony in London attended by British Prime Minister David Cameron and Chinese President Xi Jinping.

Details of the proposed fleet have yet to be announced, but Carnival said its plans could include the purchase of both new and existing cruise ships to homeport in China.

"This cruising joint venture is a significant step forward for the cruise industry in China and a tremendous opportunity for us to work together with CSSC and CIC to grow awareness, interest and demand for cruise vacations amongst domestic Chinese travelers," said Alan Buckelew, global chief operations officer for Carnival Corporation.

"Cruising is a relatively new vacation experience in China, and we believe this collaborative approach with our partners is critical to not only developing the country's domestic cruise business, but also supporting China's goal to become one of the world's leading cruise markets in coming years.

"We are excited about using our scale and decades of experience as the world's largest cruise company to help launch a multi-ship domestic cruise brand that will help spread the enjoyment of cruising to millions more Chinese vacationers."

 The company announced in July that its existing brands already sailing in China - Costa Cruises and Princess Cruises - will continue to expand in 2016 with each brand adding a ship to its fleet in China ,and two other brands, Carnival Cruise Line and AIDA Cruises, will join Costa and Princess in the Chinese  market in 2017.

From summer 2017, Princess will base its new ship, the Majestic Princess, in Shanghai year-round.

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