Immediately built the ship upon arrival. The pieces popped out with ease and most fit snugly. Only issues with loose pieces are with the ladder at the back of the cabin, a "bolt" near the propeller, and the ship itself doesn't fit too securely to the wave display/stand. You may want to glue it on to make sure it doesn't fall off accidentally and snap the wood (though the model does come with spare parts for the thinner/easily lost pieces).
The wood is obviously a bit fragile and bendy so everything fits, but so long as you're careful, it comes together very nicely! No tools required. I'm going to paint mine soon and reinforce a couple things so I can keep the model for a long while.
Shipping got 4 stars only because tracking got a bit funky and delayed, likely due to the holidays, but everything arrived safely and unbroken.