World’s largest leisure travel company and China State Shipbuilding Corporation set to formally launch cruise joint venture this week under the name CSSC Carnival Cruise Shipping Limited.

New cruise company in China to purchase two existing ships from Costa Group, with the first ship expected by end of 2019 to begin serving guests as part of the JV fleet.

Joint venture also finalizes previously announced agreement for world’s first two new cruise ships to be built in China for the Chinese cruise market, the first of which will be delivered in 2023.

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Carnival Launching China Cruise Joint Venture