Carnival Corporation & plc CCL and Italian shipbuilder Fincantieri S.p.A have finalized the deal for building five cruise ships. This forms a part of the memorandum of agreement announced in 2015.In December last year, Carnival had entered into a memo of agreement with Fincantieri S.p.A., to build four cruise ships. However, this is the final agreement with a contract of five ships.Two of these ships will be built for Costa Asia, two for Princess Cruises and one for P&O Cruises Australia. The ships are expected to be delivered by 2019 and 2020. The ships will be built at Fincantieri's shipyards in Monfalcone and Marghera, Italy.Carnival’s new ships are designed specifically keeping in mind each brand and the targeted market. Carnival Corporation is set to deliver 16 new ships between 2016 and 2020.Costa Asia’s new ships will feature Italian-style hospitality, entertainment and culinary experience. The ships are expected to strengthen the brand’s presence in China. Lately, Carnival has adopted a strategy to grow beyond its familiar itineraries and capitalize on the fast growing Asian market. It expects the Asian market for cruises to continue to grow significantly on the back of an increasingly consumer-driven economy.The ship built for Princess Cruises – the fourth "Royal Princess" class vessel – will feature the design platform used on other Princess cruises, like Royal Princess, Regal Princess and Majestic Princess. This is expected to be delivered in 2017.Carnival’s leadership position provides the scope to expand its capacity – by upgrading the current ships and increasing the size of its fleet – on the back of higher cash from operations and a comparatively lower debt burden. Moreover, Carnival's capacity growth allows it to maintain its market share without putting pressure on pricing.Carnival Corporation currently has a Zacks Rank #3 (Hold).Stocks to ConsiderSome better-ranked stocks include Carmike Cinemas Inc. CKEC, sporting a Zacks Rank #1 (Strong Buy) and Planet Fitness, Inc. PLNT and Vail Resorts Inc. MTN, both carrying a Zacks Rank #2 (Buy).Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report CARNIVAL CORP (CCL): Free Stock Analysis Report CARMIKE CINEMA (CKEC): Free Stock Analysis Report VAIL RESORTS (MTN): Free Stock Analysis Report PLANET FITNESS (PLNT): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research