LONDON — After many twists and turns, SH Minerva is now back in the Swan Hellenic fleet.

The ship will set sail in November to join SH Vega and SH Diana in Ushuaia, where SH Minerva will begin the 2025–2026 Antarctic winter season.

In March 2026 the ship will launch Swan Hellenic’s first ever Asia-Pacific season.

The new in-depth explorations of the Asia-Pacific region include the Solomon Islands, Papua New Guinea, Raja Ampat, Indonesia, the Philippines and Japan.

“We’re delighted to welcome back our flagship SH Minerva,” said Swan Hellenic’s CEO, Andrea Zito. “A symbol of Swan Hellenic’s rebirth, her inaugural Asia-Pacific Season will take us to fly our flag across the globe, reaching every ocean and continent. It’s a moment of immense pride for us.”

SH Minerva was built in Helsinki Shipyard OY at the end of 2021 and chartered to Swan Hellenic by the Irish owner, STLC Europe Nine Leasing Ltd.

The parent company of STLC Europe Nine Leasing Ltd, GTLK Europe DAC, was sanctioned by the EU, U.S. and UK back in April-August 2022 due to the designation of the giant Russian leasing company PAO GTLK, which was a parent company of GTLK Europe DAC.

SH Minerva has consequently been idle at Fray Bentos, Uruguay, since April 2022.

In May 2023, GTLK Europe DAC went into liquidation. Joint liquidators were appointed by the High Court of Ireland and PAO GTLK subsequently lost control of GTLK Europe DAC and all its subsidiaries, including STLC Europe Nine Leasing Ltd.

The joint liquidators who now have control of GTLK Europe DAC and its subsidiaries obtained compliance of the sale of GTLK Europe DAC’s assets (including SH Minerva) with all the applicable sanctions.

After lengthy negotiations with the joint liquidators, Swan Hellenic finally reacquired SH Minerva from STLC Europe Nine Leasing Ltd in accordance with all applicable sanctions on July 25 using shareholders’ funds.