Carnival Corporation & plc has contracted with Meyer Werft shipyard to construct a fifth Excel-class cruise ship for its Carnival Cruise Line brand.
The cruise ship is scheduled to be delivered in 2028. Earlier in February, Carnival Corporation revealed the order for the first new build in five years and confirmed the addition of a fourth Excel-class ship to the Carnival Cruise Line fleet in Spring 2027. With this latest announcement, the corporation will have 11 Excel-class ships across four of its renowned brands, with Carnival Cruise Line operating five of them.
According to Christine Duffy, the president of Carnival Cruise Line, the line’s Excel-class fleet will soon consist of five ships. Since the launch of Mardi Gras in 2021, followed by Carnival Celebration in 2022 and Carnival Jubilee in 2023, these Excel-class ships have generated enormous excitement and demand and received high guest satisfaction ratings.
With the forthcoming introduction of Carnival Firenze in April, the line will achieve the addition of five ships to its fleet in under 20 months, marking the completion of this phase of growth.
The upcoming vessel, the fifth in the Excel-class series, will utilize the same foundation as its counterparts. This 180,000-ton ship will be propelled by liquefied natural gas (LNG) and can accommodate more than 6,400 passengers and 1,800 crew members.
According to Josh Weinstein, CEO of Carnival Corporation & plc, the new order aims to strikes a balance between growth and responsible capital usage. The company plans to utilize strong free cash flow over the next few years to strategically enhance its balance sheet, reduce leverage levels, and shift value from debt holders to shareholders.
Weinstein emphasized that Carnival Cruise Line is performing exceptionally well and focuses on adding capacity in line with market demand. The company plans to gradually increase capacity by adding one to two ships per year starting in 2027. Weinstein also mentioned that additional fleet plans will be identified in the coming months to meet capacity demand and improve operational execution, resulting in a higher return on invested capital.
The new order is contingent upon financing, which is expected to be completed later this year.