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A Chinese company Chong Lot Travel Agency bought the Soviet-made Kuznetsov-class aircraft carrier VARYAG (Viking), lacking an engine and a rudder, from Ukraine for US$20 million in 1998, and wanted to tow it to Macau from the Black Sea and convert it into a floating casino.

Construction of the Varyag began in 1985. After the Soviet Union collapsed in 1991, ownership of the carrier was transfered to newly independent Ukraine. Ukraine halted construction in 1992, when the vessel was about 70% complete. The total estimated cost of the ship was about US$2.4 billion, and more than US$500 million was needed to complete her construction.

Varyag is now under very sophisticated upgrading at Chinese naval base Dalian where it had been tied up for three years after a towage lasted 627 days.

Nowadays, presence and mystery of the Varyag is a cost-effective way that cause maximum intimidation against unsinkable aircraft carrier Taiwan.