SH Minerva is now back in the Swan Hellenic fleet—something we were told by the line’s CEO, Andrea Zito, last August that he expected to happen within 12 to 18 months. Well, just a couple weeks ahead of that timeline, Swan Hellenic has announced the return of the vessel.Following routine maintenance and preparations, it will set sail in November, joining sister ships SH Vega and SH Diana in Ushuaia. From there, it will begin its 2025–2026 Antarctic winter season. Then, in March 2026, SH Minerva will sail Swan Hellenic’s first ever Asia-Pacific Season.These explorations of the Asia-Pacific region will include visits to the Solomon Islands, Papua New Guinea, Raja Ampat (Indonesia), the Philippines and Japan. Guests can expect experiences that will take them to see primitive art, ancient rituals and anthropology and historical WWII sites. They can also enjoy wildlife, snorkeling and watersports adventures.Subscribe to LATTE Cruise’s free eNewsletter to keep up to date with everything in the luxury cruise space.
The Backstory
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 European Union, U.S. and U.K. 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 25 July 2025 using shareholders’ funds.
