Carnival enters joint venture to launch Chinese cruise line

costa-atlantica-tianjin-maiden-callCredit: Carnival Corporation

CARNIVAL Corporation has formally entered into a joint venture with China State Shipbuilding Corporation (CSSC) and China Investment Corporation (CIC) to launch the first world-class, multi-ship domestic cruise brand in the Chinese market.

With this new agreement, Carnival Corporation and CSSC plan to purchase and operate both new and existing cruise ships to homeport in China.

Meanwhile, the CIC will be involved as a significant investor, hence reinforcing China’s commitment to expanding the Chinese tourism market.

“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 among domestic Chinese travellers,” said Buckelew, global COO for Carnival Corporation.

He added: “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.”

The joint venture comes in the wake of recent news that Carnival Corporation is extending its overall market presence in China in the next two years.

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