Carnival Cruise Line Announces Agreement with Meyer Werft to Build Fourth Excel-Class Ship
Carnival Corporation & plc, the world's largest cruise company, has revealed plans to expand its fleet with the construction of a fourth Excel-class cruise ship for its largest brand, Carnival Cruises. The company has signed an agreement with leading German shipbuilder Meyer Werft for the new vessel, which is expected to join the fleet in Spring 2027.
The Excel-class ships have gained popularity since the introduction of Mardi Gras, Carnival Celebration, and Carnival Jubilee. The upcoming 180,000-ton ship will be the 10th Excel-class ship in Carnival Corporation's fleet, spanning four of its renowned brands.
Designed to accommodate over 6,400 guests, the new ship will feature cutting-edge liquefied natural gas (LNG) technology, aligning with Carnival Cruise Line's commitment to environmental sustainability. This marks the first new-build order by Carnival Corporation in the past five years.
DID YOU KNOW: THE CARNIVAL EXCEL CLASS WAS THE FIRST SHIP CLASS TO DEBUT A ROLLER COASTER AT SEA
Christine Duffy, President of Carnival Cruise Line, expressed enthusiasm about the addition to their fleet, stating, "Our Excel-class ships have been a tremendous addition to the Carnival fleet and proven very popular with our guests. This new ship enables us to continue the growth of our incredible fleet as we welcome our loyal guests back to cruise more frequently and attract new-to-cruise guests to experience all that a Carnival cruise has to offer."
Carnival Corporation's CEO, Josh Weinstein, highlighted the strategic significance of this move, emphasizing a measured capacity growth strategy. "We are following through on our measured capacity growth strategy with the addition of one to two ships per year beginning in 2027, which will be allocated to our cruise lines that most need the capacity to satisfy outsized demand, delivering an attractive payback period."
Weinstein also outlined the company's financial strategy, leveraging substantial free cash flow to improve the balance sheet, reduce leverage levels, and enhance shareholder value. "Our responsible capital approach will support utilizing our substantial free cash flow over the next several years to strategically improve our balance sheet, significantly reduce our leverage levels, and continue to transfer value from debt holders to shareholders," he explained.
Bernd Eikens, CEO of Meyer Group, expressed satisfaction with the ongoing partnership between Meyer Werft and Carnival Corporation, stating, "We are very pleased that the partnership between the MEYER Group and Carnival Corporation will continue with this new order."
As Carnival Cruise Line looks towards the future, this new Excel-class ship represents a commitment to meeting growing demand, providing an enhanced cruise experience, and maintaining a focus on environmental responsibility.
