State Shipbuilder to Produce $4.6 Billion of Cruise Ships

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By Caixin Global / Nov 08, 2018 05:21 PM / Economy

China State Shipbuilding Corp. (CSSC) said it signed a shipbuilding agreement that could be worth as much as $4.62 billion with U.S. cruise operator Carnival Corp. and Italian shipbuilder Fincantieri.

The agreement includes a formal contract of $1.54 billion for two cruise ships to be delivered in 2023 and 2024. The agreement also includes options for an additional four vessels. If all are delivered, it would be the largest ever shipbuilding contract for a Chinese shipbuilder.

According to the agreement, the new cruise ships will be operated by CSSC Carnival Cruise Shipping Ltd., a joint venture between CSSC and Carnival Corp.

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