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December 1, 2009

Carnival orders third Dream class cruise ship

Carnival Corporation & plc (NYSE/LSE: CCL; NYSE: CUK) has reached an agreement with Italian shipbuilder Fincantieri to construct a 130,000-ton cruise ship for its Carnival Cruise Lines brand, scheduled to enter service in spring 2012.

To be built at Fincantieri's Monfalcone yard under a U.S. dollar denominated contract, the all-in cost of the 3,690-passenger vessel vessel is approximately $200,000 per lower berth, making the the total cost around $738 million.

Already under construction at Fincantieri is the second sister ship to the Carnival Dream, the 130,000-ton Carnival Magic, which is scheduled to enter service in May 2011.

The new vessel, which is the third in the series, will have the same innovative outdoor lay-out including a promenade running the whole of the ship's external perimeter.

There will be a wide range of on-board amenities, including a four-slide water park on the last deck. The ship will also have many deluxe ocean view staterooms with two-bathrooms, some with five berths in response to family requirements.

Commenting on the new order, the President and CEO of Carnival Cruise Line, Gerry Cahill, said: "Barely in service for two months, Carnival Dream is already earning rave reviews from guests and travel agents and ordering a third Dream-class ship speaks volumes about the confidence we have in the continued success of this series. The Dream class of ships embodies the evolution of our brand by providing the type of fun, affordable vacations that today's consumers are seeking."

Fincantieri's Chief Executive Officer Giuseppe Bono, commented: "This is a first, important signal from a market which is still going through a difficult phase. The sector is holding, even if it is hard to understand when it will recover completely. We are however reassured by the fact that once again Carnival Group, has trusted in our ability to build beautiful, technologically sophisticated ships."


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