Viking and China Merchants plan new cruise JV

Viking Chairman Torstein Hagen pictured with Gangfeng Fu, president of China Merchants Group, after signing a memorandum of understanding to form a joint venture to build a cruise line for the Chinese cruise market

Viking Cruises and China Merchants Group plan to set up a joint venture focused on building a cruise line with worldwide cruise offerings for the Chinese cruise market.

China Merchants Group’s shipbuilding subsidiaries will partner with the joint venture to design and build new ocean cruise ships dedicated to the Chinese market.

“China is a dynamic outbound tourism market, and we are pleased to be partnering with China Merchants Group in this joint venture to drive the development of the cruise industry – we see Viking’s way of cruising less as a trip and more as a lifestyle,” said Torstein Hagen, Chairman of Viking. “For more than 20 years, we have led the industry in developing a fleet of ships and a range of cruise itineraries that we believe provide guests with the most comfortable and enriching way to explore the world. Our partnership with China Merchants Group will allow us to bring this Viking travel lifestyle to more Chinese travelers more quickly, satisfying the Chinese market’s unmet demand for a greater choice of sophisticated travel.”

“China Merchants Group treasures this cooperation with Viking. This is a full scale, multi-dimensional cooperation that covers all three main business sectors of China Merchants group,” said Gangfeng Fu, president of China Merchants Group. “Viking has gained tremendous experience in cruise operations and branding strategies during its 20 years of rapid growth. We sincerely hope that the alliance of the two powerful brands will create synergies and innovative business models that will lead the cooperation into a market-leading cruise brand.”