MITSUBISHI Heavy Industries’ bid to re-emerge as a cruiseship builder has floundered under the pressure of the global credit crisis.

An MHI spokesperson told Lloyd’s List that talks to build two luxury cruiseships for a Carnival Cruises subsidiary had folded after months of on/off negotiations.

The two parties had been discussing the construction of two ships with up to 1,000 guest rooms plus state-of-the-art facilities. The vessels had been provisionally scheduled to be delivered in 2013 and 2014.

“Despite many talks over a protracted period of time we were unable to arrive at a pricing consensus. With the arrival of the credit crisis it was finally decided to postpone further negotiations until better times,” the spokesperson said.

“As far as we are aware Carnival is not seeking an alternative shipbuilder,” he added.

In the summer MHI called a halt to new orders for conventional ships as frequent steel price hikes deterred the firm from committing to long-term products.

It had made an exception with the cruise ships because large cruise vessels boast an elaborate interior decoration but the steel plate accounts for just 5% of the overall cost, compared to the more than 20% cost for a conventional bulk carrier.

Mitsubishi Heavy last built large cruiseships in 2002, again for Carnival Cruises.