SH Vega cruise ship successfully acquisitioned by Swan Hellenic

   June 28, 2022 ,   Cruise Industry

The Finnish shipbuilder Helsinki Shipyard Oy (Helsinki, Finland), having received bids for the NB 517 auction, announced that Swan Hellenic had been awarded the tender.

On June 13, 2022, Helsinki Shipyard (still being the owner of the vessel/referred to as "Expedition Cruise Ship Hull No 517") published on its website that the newbuild was auctioned and would be sold to the highest bidder on July 19th.

Helsinki Shipyard exercised the right to sell SH Vega by tender, as envisaged by the shipbuilding contract after the original buyer (GTLK Europe) failed to take the delivery of the new vessel. The auction that ended at midnight on June 24, was satisfactory for the yard, which analyzed the bids and declared Swan Hellenic the winner.

SH Vega will be delivered to Swan Hellenic as soon as registry formalities in The Bahamas (flag-state) will be completed and the company becomes the sole shipowner.

SH Vega will start operating in the Arctic as scheduled in July 2022.

SH Vega cruise ship

Simo Rastas (Helsinki Shipyard Oy’s acting CEO) said the company was satisfied that bids had been received and the auction had been carried out efficiently on schedule.

In March 2022, Swan Hellenic exercised the buyout/irrevocable purchase option for its two vessels  - Minerva (March 13) and Vega (March 31) - from GTLK (ГТЛК-Государственная транспортная лизинговая компания/State Transport Leasing Company). JSC GTLK (Russia's largest leasing company) and its subsidiaries were included in the UK's and EU's sanctions list due to Russia's invasion of Ukraine. Both vessels' ownership was officially changed on March 13 (SH Minerva) and on March 31 (SH Vega).

Swan Hellenic plans to start sailing the 152-passenger ship SH Vega on July 20 from Tromso (Norway).

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