Carnival (NYSE:CCL), the world’s largest cruise operator, is expanding its operations in China.
The Miami, Florida-based company said in a statement on Tuesday that it will bring its Carnival and Aida lines to China in 2017.
The new additions will join Costa Cruises and Princess Cruises, giving Carnival four cruise brands in the Chinese market, one of the world’s fastest-growing tourism markets.
Carnival has 10 total brands, and is the first to have four in China.
Costa Cruises and Princess Cruises will each add a new ship to its fleet in 2016 for a total of six ships, a 58% increase in total capacity in China, the company said.
Carnival is also exploring joint ventures with China State Shipbuilding Corp. and China Merchants Group.
Shares fell 1% as of 8:13 a.m. in New York premarket trading. The stock closed at $50.36 on Monday, up 11% this year.
In London, the shares were up 26p at 3,360p in lunchtime trading.
On Monday, Carnival’s rival Norwegian Cruise Line Holdings (NASDAQ:NCLH) said it would add its first vessel custom-made to cater to the Chinese market in 2017.