Swan Hellenic to redeploy SH Minerva after three-year hiatus
Swan Hellenic has confirmed SH Minerva will return to operations this winter after a three-year hiatus
The vessel will sail in November to join its sister ships SH Vega and SH Diana in Ushuaia, where it will begin the 2025–2026 Antarctic winter season.
Then, in March 2026, Minerva will launch Swan Hellenic’s first ever Asia-Pacific Season, with itineraries to the Solomon Islands, Papua New Guinea, Raja Ampat, Indonesia, the Philippines and Japan.
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, GTLK Europe DAC, was sanctioned by the EU, US and UK in April-August 2022 due to the designation of the giant Russian leasing company PAO GTLK, which was a parent company of GTLK Europe.
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.
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 Minerva – with all the applicable sanctions.
After lengthy negotiations with the Joint Liquidators, Swan Hellenic reacquired Minerva from STLC Europe Nine Leasing in accordance with all applicable sanctions on 25 July 2025 using shareholders’ funds.
“We’re delighted to welcome back our flagship SH Minerva,” says Swan Hellenic 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.”
