Carnival Corp. stated it signed a memorandum of understanding that could lead to a cruise ship getting built in China.

The memo is an agreement among Carnival Corp. and the China State Shipbuilding Corp. (CSSC) to discover the formation of a joint venture.

The aim of the venture would be to construct a modern cruise ship in China collectively.

China State Shipbuilding Corp. is the largest shipbuilder in China, according to a Carnival Corp. announcement.

The Italian shipbuilder Fincantieri could companion in the joint venture need to it be formed, Carnival Corp. mentioned.

There is no firm agreement to build yet, nor is it clear who would own or operate any ship that final results from the joint work.

Carnival Corp. mentioned the venture is “aimed at accelerating the improvement and growth of the Chinese cruise industry.”

The agreement was made official at an Oct. 14 signing ceremony at the ninth China Cruise Shipping and International Cruise Expo in Tianjin.

“This actually is a breakthrough day for all of us at Carnival as properly as our pals at the CSSC,” Carnival Corp. CEO Arnold Donald stated.

Carnival Corp. mentioned its contribution to the venture would be to use its design and style and shipbuilding experience to produce the “vision, definition and overall specifications” for the China-built cruise ship.

The memorandum also contains the exploration of other possible joint venture possibilities with CSSC such as the potential to kind a domestic cruise organization, port development, talent improvement and training as well as supply chain and logistics, Carnival Corp. stated.

No major cruise line has ever constructed a ship in China, despite the fact that a handful of have been built in Japan.

A Chinese Ministry of Transport forecast estimates there will be 4.5 million cruise passengers sourced in China by 2020.

Two Carnival Corp. brands, Costa Cruises and Princess Cruises, are currently selling cruises in China. Carnival mentioned it will have 220 port calls from 5 brands in China in 2014.

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