On Friday, October 18, CSSC's Shanghai Waigaoqiao Shipbuilding got underway on a project to build the first fully China-made cruise ship (TBN). The contract between CSSC and Carnival Corporation was signed in February 2017, and following 2 years and a reported USD 260 million in shipyard upgrades, work is currently underway.
The first unit is due for delivery in 4-years' time, with the 2nd following the year after. Each vessel is priced at USD 770 million - or ~20% cheaper than the cost of the biggest cruise liners constructed in Europe.
Once complete, the new vessels will be operated under the joint venture company CSSC Carnival Cruise Shipping Ltd. The new brand starts operations in 2019 with the purchase of 2 midsized vessels from Carnival Corporatio's subsidiary Costa Group - Costa Atlantica (transferred in 2019-Q4) and Costa Mediterranea (transferred in 2020-Q4).