US cruise giant describes agreement between Carnival, the China State Shipbuilding Corporation, and Italy’s Fincantieri,the world’s largest cruise ship building company as ‘a breakthrough day’.

Carnival Corporation is looking to build its first cruise ships in China to tap into one of the fastest growing cruise markets in the world.

On the table is a signed MOU between Carnival, the China State Shipbuilding Corporation, and Italy’s Fincantieri - the world’s largest cruise ship building company - in support of the Chinese government’s plans to grow the cruising industry in China.

As part of the shipbuilding joint venture under discussion, Carnival Corporation would work closely with CSSC and Fincantieri to help develop the first world-class cruise ship built in China.

Demand for cruises from Chinese travellers is forecast to reach 4.5 million passengers by 2020.

Carnival said it would explore other possible joint venture opportunities with CSSC, including the potential to form a domestic cruise company, port development, “talent development” and training as well as supply chain and logistics.

Carnival Corp chief Arnold Donald described the Chinese venture as “a breakthrough day for all of us at Carnival”.

Carnival Corporation’s Costa Cruises is adding the Costa Serena to its fleet in China from next April. This will give the group four ships with home ports in the country, including Costa Atlantica, Costa Victoria and Sapphire Princess.