Carnival Corp. has reached an agreement with Italian shipbuilder Fincantieri to construct a $738 million cruise ship.
The company said in Tuesday's announcement that the 130,000-ton ship will enter the service of the Carnival Cruise Lines brand in spring 2012.
The 3,690-passenger vessel will be built at Fincantieri's Monfalcone yard and will be paid for in U.S. dollars.
It will offer similar features as the recently launched Carnival Dream, including a 300-foot-long corkscrew water slide and whirlpools that extend over the ship's side.
Carnival currently operates 93 ships under 11 brands.
Royal Caribbean Cruise Lines launched its $1.5 billion Oasis of the Seas, which can carry up to 8,500 passengers and crew, in October.