Carnival (CCL - Get Report) is building two new ships to be delivered in 2021 and 2022, one of which will be added to the Princess Cruises line and will feature the company's new Ocean Medallion technology.

On Thursday, Carnival signed an agreement with Italian shipbuilding company Fincantierie for the construction of a 99,500-ton, 2,660-guest ship for its Holland America line and a 145,000-ton, 3,660-guest ship for its Princess Cruises brand, according to the Doral, Fla.-based cruise company.

Holland's new ship is expected to be delivered in 2021 and Princess Cruises' new vessel is set to be delivered in 2022, Carnival said.

"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," Carnival CEO Arnold Donald said in a statement.

Carnival anticipates that final contracts for the two new ships will be executed sometime early this year.

The new ship to join the Princess Cruises fleet will feature Carnival's medallion technology, an interactive quarter-sized smart disk, which is a wearable device that allows guests to open their rooms just by walking near them and order meals before sitting down at a restaurant.

"Going forward, brand-building efforts, improved consumer spending power, new onboard product offerings coupled with various strategic initiatives are expected to drive onboard yields," Zacks Investment Research analysts said in a note on Friday.

Carnival's two latest planned ships, not yet named, add to a fleet of 19 new ships scheduled to be delivered between 2017 and 2022 including Holland America's Koningsdam and Nieuw Statendam, set for delivery in November of 2018.

Shares of Carnival slipped 30 cents, or 0.56%, to $53.15 midday on Friday.