At a signing ceremony attended by British PM David Cameron and Chinese President Xi Jinping, Carnival Corporation finalised its partnership with China in a cruise JV it says will act as a catalyst in transforming China’s nascent cruise industry into the world’s biggest.
Carnival, which claims to be the world’s largest travel company, is partnering with China State Shipbuilding Corporation (CSSC) and China Investment Corporation (CIC) on the new venture. Both are government-owned.
The partners will create a new Chinese cruise brand.
“Specific fleet details will be announced at a later date, but potential plans could include the purchase of both new and existing cruise ships to homeport in China,” Carnival said in a press release.
“CIC’s involvement as a strategic partner reinforces China’s commitment to developing a strong domestic cruise presence and growing demand for cruising as a key driver of the expanding Chinese tourism market, which is a top priority for longer term economic development in China.”