The first Chinese luxury cruise ship "招商伊敦" is listed for transfer, with a starting price of 2.9 billion yuan and a deposit of 870 million yuan.

Red Star Capital Bureau, February 28 — According to the official website of the Beijing Equity Exchange, China Merchants Viking Cruises Co., Ltd. has officially listed for transfer the “China Merchants Eden” cruise ship and its onboard assets, with a transfer base price of 2.906 billion yuan.

Screenshot from the Beijing Equity Exchange official website

Public information shows that the China Merchants Eden is the first Chinese luxury cruise ship, completed in 2017. It is 228.2 meters long, 28.8 meters wide, can accommodate 930 passengers, and is equipped with 7 restaurants, 4 bars, a heated swimming pool, a cinema, and other facilities, with a gross tonnage of about 47,000 tons. In 2021, China Merchants Group and Viking Cruises jointly purchased the ship through a joint venture and renamed it “China Merchants Eden.”

According to the Beijing Equity Exchange, the disclosure period for this asset transfer is from February 10 to March 16. There are no mortgage conditions, the rights holder has no intention to exercise the right of first refusal, the deposit is 872 million yuan, and the transfer base price is 2.906 billion yuan.

Media reports indicate that the purchase price in 2021 was approximately 400 million USD (about 2.743 billion RMB), and the current transfer base price is slightly higher.

Currently, the “China Merchants Eden” belongs to China Merchants Viking Cruises Co., Ltd. Tianyancha app shows that the company’s shareholders are China Merchants Cruise Co., Ltd. (holding 90%) and Viking China Investments Ltd (holding 10%, i.e., Viking Cruises China Investment).

“China Merchants Eden” cruise ship, photo illustration, sourced from Visual China

Red Star Capital Bureau notes that, according to the page, after the completion of this transaction, the target assets must no longer use any logos, brands, or names containing China Merchants Group Limited and its subsidiaries’ corporate images or symbols (including but not limited to “China Merchants,” “China Merchants Group,” “招商局,” “China Merchants Group”).

Additionally, some intellectual property rights currently used in the operation of the assets are licensed from Viking River Cruises (Bermuda) Ltd. These are not included in the scope of this transfer, such as restaurant names and property management systems.

Until the removal of the above logos, brands, and intellectual property rights, the assets cannot conduct business activities. Otherwise, the transferee will bear all responsibilities and risks related to infringement.

Media reports indicate that since its operation, the “China Merchants Eden” has opened domestic coastal routes from Shanghai, Shenzhen, Tianjin, and other ports, and in 2023, it executed China’s first international cruise route. With Chinese-language services, refined experiences, and an all-inclusive model, it has become a benchmark in the high-end cruise market. However, due to market conditions, operating costs, route structure, and consumer habits, the ship has faced long-term profitability pressures, and its operational performance has not met expectations.

On February 28, Red Star Capital Bureau contacted a project manager from the transaction agency, who stated they were unaware of the reasons for the transfer of the “China Merchants Eden” and that they could not disclose whether any party had paid the deposit.

Red Star News reporter Yang Peiwen

Editor: Yu Dongmei; Reviewer: Sheng Gaoxiang