Chinese conglomerate the China Merchants Group (CMG) has withdrawn from an effort to develop a local luxury cruise brand as part of a joint venture with US counterpart Viking.
The JV was formed in 2021 at around the same time that CMG acquired a Viking-operated ship, the 2017-built Viking Sun, for nearly US$400 million.
Renamed China Merchants Eden, the ship was recently put up for sail after CMG decided to pull her from service due to low passenger numbers, resulting in reported losses.
In particular, between 2024 and 2025, the ship often sailed with embarked passengers well below her maximum capacity of 930 on each trip.
China Merchants Eden was recently listed on the Beijing Equity Exchange with a minimum bid price of CNY2.9 billion (US$420 million). As one of the conditions set by CMG, the buyer would have to rid the ship of all China Merchants branding within one month following the purchase.
CMG clarified that the Viking branding is not included in the sale, and that the buyer may opt to negotiate with Viking on a new agreement regarding the branding or to relinquish it altogether.
