Carnival to help build China's first cruise ship

Los Angeles

CARNIVAL Corp has agreed to help build China's first cruise ship as travel demand increases, placing the country on course to become the second-biggest market for the leisure boats in three years.

Carnival will sign a memorandum of understanding with state-owned China State Shipbuilding Corp on a possible joint venture "aimed at accelerating the development and growth of the Chinese cruise industry", the Miami-based company, the world's largest cruise-line operator, said in a statement. Italy's Fincantieri SpA, the biggest builder of cruise vessels, may be the third party in this venture, Carnival said.