China Merchants Is the Latest to Withdraw from China’s Cruise Market
China Merchants, one of the country’s largest industrial companies and heavily involved in the maritime sector, has abandoned its efforts to develop a luxury Chinese cruise product.
The company had launched a joint venture with Viking in 2021, acquiring one of Viking’s cruise ships, but recently put the cruise ship up for sale.
The company had reportedly paid nearly $400 million in 2021 as part of the joint venture to take control of the 745-foot Viking Sun (47,800 gross tons).
China Merchants Is the Latest to Withdraw from China’s Cruise Market
