not vested
Carnival ponders China cruise line
Cruise operator Carnival Corp is in talks with state-owned China Merchants Group to develop a new cruise line for the fast-growing China market, the US firm said yesterday.
The pair have agreed to look into setting up two separate ventures to tap into the local cruise business. The Chinese market could nearly double to US$11.5 billion (HK$90 billion) in sales by 2018, compared with US$6.8 billion in 2013, says researcher Euromonitor.
One potential venture would own and operate its own cruise ships for the China market, with ships that may be designed and built in the mainland, Carnival said. The other venture would develop cruise terminals in China and around north Asia.
The US firm expects to carry 500,000 cruise passengers in China this year, up 140 percent from 2013, it said. Carnival said last year it has signed a memorandum of understanding with China State Shipbuilding Corporation to build China's first luxury cruise vessel.
Source: REUTERS