CSSC Carnival Cruise Shipping

CSSC Carnival was founded in October 2015 as a joint venture, worth about $4 billion over ten years, between British-American cruise line Carnival Corporation & plc, Chinese sovereign wealth fund China Investment Corporation, and Chinese shipbuilder China State Shipbuilding Corporation (CSSC).[1] CSSC Carnival is headquartered in Hong Kong and is majority owned by the Chinese shareholders, which collectively own 60% of the company, with Carnival holding the remainder.[1][2] In September 2016, the company announced plans to order two new ships, with options for two more, with deliveries planned to begin in 2022.[3] In February 2017, two more options were added to the order, and it was announced that the vessels would be built at the Shanghai Waigaoqiao Shipbuilding Company through a joint venture between CSSC, owner of the shipyard, and Italian shipbuilder Fincantieri, with the first ship to be delivered in 2023.[3] In November 2018, the contract for the first two Chinese-built ships was formally signed at a cost of about $1.5 billion, and CSSC Carnival announced that it planned to purchase two ships already in service, to enter its fleet beginning in late 2019.[4]

CSSC Carnival will begin operations with two ships purchased from Costa Cruises, Costa Atlantica in 2020 and Costa Mediterranea in 2021.[5]

The first Chinese-built vessel, to be constructed off of the Vista-class design, is expected to be delivered in 2023, with the sister ship following in 2024.[6] If all four options are exercised, a new ship will be delivered annually through 2028.[2]