Caixin
Nov 07, 2018 06:59 PM
BUSINESS & TECH

Shipbuilder Makes Foray into Cruise Sector With Carnival Corp. Deal

Attendees at the China Independent Brand Expo check out a model of a luxury cruise ship in Shanghai on May 10. Photo: VCG
Attendees at the China Independent Brand Expo check out a model of a luxury cruise ship in Shanghai on May 10. Photo: VCG

China State Shipbuilding Corp. (CSSC) has sealed a deal worth as much as $4.6 billion to build up to six cruise liners for U.S. leisure travel giant Carnival Corp., as both companies gear up to tap the country’s thriving cruise market.

Under the deal, a recently formed Carnival-CSSC China venture will place orders for two cruise ships to be built by Shanghai Waigaoqiao Shipbuilding Co. Ltd., a CSSC subsidiary, the state-owned shipbuilder said in a filing (link in Chinese) to the Shanghai Stock Exchange on Tuesday.

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