Carnival Cruise Lines has signed a con­tract with Kvaerner Masa-Yards for the con­struction of yet another new 70,000-ton, 2,044-pas­senger ship scheduled for delivery in the fall of 1995. The approximate cost is $330 million.

To be named the Imagination, it will be the fifth in a series of 70,000-ton ships to be built for Carnival by the Finnish yard. The Fantasy and the Ecstasy entered service in 1990 and 1991. Under construction are the Sensation and Fascination, scheduled for delivery in 1993 and 1994. No deci­sions have been made yet on itineraries for the new ships.

Carnival has committed more than $1.5 billion to new ship construction and also has ships under construction at the Italian Fincantieri yard group for its Holland America Line subsidi­ary, scheduled for delivery in late 1992, 1993 and 1994.

As industry capacity growth starts to decelerate in 1993, which is expected to lead to higher capacity utilization, even rising fares, Car­nival and Holland America Line are the only cruise lines introducing new tonnage in 1994 and 1995.