Carnival, China Merchants Group Ink MoU For Two Potential JVs

(RTTNews) - Cruise operator Carnival Corporation & plc (CCL, CCL.L, CUK) signed a memorandum of understanding or MoU with China Merchants Group or CMG to explore the possibility of two joint ventures designed to accelerate the development and growth of the overall cruise industry in China. The MoU would explore both Port & Destination Development and Ship-Owning joint ventures with the aim of potentially introducing China's first world-class domestic cruise brand.

Recently, Carnival Corp. announced its plans for immediate capacity growth in China in 2015 to meet growing demand. With Costa Cruises adding the Costa Serena in China in April of this year, Carnival would be the first global cruise firm with four ships homeported in China. Costa Serena joins Costa Atlantica, Costa Victoria and Sapphire Princess already homeported in China.

Carnival is growing its market presence by 140 percent from 2013 - 2015 and expects to carry 500,000 cruise passengers in China in 2015.