Carnival splits nine new ships between Fincantieri and Meyer

Latest addition to Carnival fleet is P&O Cruises' Fincantieri-built Britannia Latest addition to Carnival fleet is P&O Cruises' Fincantieri-built Britannia

MARCH 26, 2015 —  Carnival Corporation & plc (NYSE/LSE: CCL; NYSE: CUK) has signed two strategic memorandums of agreement that will add a total of nine new cruise ships to its fleet over a four-year period from 2019 - 2022.

The shipbuilding agreements, which include options for additional ship builds in the coming years, are subject to several conditions, including satisfactory financing.

Italian shipbuilder Fincantieri S.p.A and German shipbuilder Meyer Werft will each build new ships based on Carnival Corporation's next-generation ship designs, which will produce the most efficient ships in the company's history.

The new ships are expected to serve established cruise markets in North America and Europe, as well as newer markets, including China.

Each new ship will be specifically designed and developed for the brand and guests it will serve, and support the company's overall goal of exceeding guest expectations and further elevating every aspect of the guest experience.

"We're excited to take this next step in our fleet enhancement plan with these two new agreements that are consistent with our long-term strategy of measured capacity growth over time," said Arnold Donald, president and CEO of Carnival Corporation. "Our goal as a company is to exceed the expectations of every guest on every ship every day, and these new ships will further enable us to do just that. These will be the most efficient ships we have ever built and the great guest experience will create even more excitement around cruising – helping new cruisers realize the superior vacation experience and value that cruising offers versus land-based vacations."

Fincantieri will develop and construct five ships at its shipyards in Monfalcone and Marghera, Italy.

"I am extremely proud on this truly memorable day for us. Today's announcement provides us with a long-term strategic prospective, and reinforces the extraordinary partnership between us and Carnival Corporation, developed over time thanks to the confidence the group has always shown in us, which we assure will be once again well placed," said Giuseppe Bono, CEO of Fincantieri.

"This agreement reflects the exceptional business vision of the world's most important cruise operator, and our readiness and flexibility in interpreting its demands."

Meyer Werft, a leading global shipbuilder founded in Germany in 1795, will build its four ships at its shipyards in Papenburg, Germany, and Turku, Finland. Now in its seventh generation of family ownership, Meyer Werft has become well known for constructing large, modern and sophisticated cruise ships, including 39 luxury ships the company has built for its customers around the world.

Bernard Meyer, managing partner of Meyer Werft, said, "We are very happy and honored that Carnival Corporation trusts our strength to bring this ambitious newbuilding program to life in Turku and Papenburg."

As part of each shipbuilder's long-term strategic partnership with Carnival Corporation, additional new ship orders are being explored over the coming decade.

Additional information on Carnival Corporation's cruise ship designs, and which of the company's nine cruise brands will add these next-generation vessels to their fleets will be made available at a later date.

Carnival Corporation's fleet enhancement strategy will add two new ships to its fleet in 2015 and remove four ships from the fleet.
P&O Cruises U.K. officially launched Britannia, the largest ship ever designed exclusively for Britain, in a naming ceremony earlier this month in Southampton. Later this year, the AIDA Cruises fleet will welcome AIDAprima, which is expected to be one of the most technically advanced and sustainable cruise ships ever built.

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