Carnival Corporation is adding a pair of new ships to its development pipeline.

The company has signed a memorandum of agreement with Italian shipbuilder Ficantieri S.p.A. to build two new cruise ships, with final contracts expected to be executed in early 2017.

The ships are designated for the Holland America Line and Princess Cruises.

Carnival now has 19 new ships scheduled to be delivered between 2017 and 2022.

Holland America Line’s new ship is expected to be delivered in 2021, with the new Princess Cruises ship slated for delivery in 2022.

“We are extremely pleased to formally announce these two new ships and build on the success and popularity of their sister ships already sailing guests around the globe,” said Arnold Donald, CEO of Carnival Corporation. “Our goal is to exceed expectations of the 11.5 million guests who sail with us each year, and these new ships will offer more opportunities for our guests to create lifelong vacation memories while generating added excitement around the fast-growing global demand for cruise vacations.”

Holland America Line’s new 99,500-ton, 2,660-guest ship will be its third “Pinnacle” class vessel. Princess Cruises’ new 145,000-ton ship will carry 3,660 passengers and will be its sixth “Royal” class vessel.

“This is an extraordinary moment for the cruise sector and it is particularly rewarding for us to be able to seize all the opportunities coming from the industry growth, also thanks to our deep-rooted partnership with Carnival Corporation,” said Giuseppe Bono, CEO of Fincantieri. “These vessels will be based on the successful platforms developed for Carnival. On the back of these successful platforms, our Group today aims to further increase its order book, already at record levels, while ensuring profitability in the cruise segment.”