The vessel was going to be owned by GTLK and chartered to Swan Hellenic but as a consequence of Russia sanctions in April, the company defaulted on ship payments. 

As a result, Helsinki Shipyard exercised the right to sell the ship by tender. The auction ended at midnight on 24 June and was satisfactory for the shipyard, which analysed the bids and declared Swan Hellenic the winner.

The ship will, as anticipated, be delivered to Swan Hellenic as soon as all the registry formalities in The Bahamas have been completed, and Swan Hellenic becomes the sole owner of SH Vega. The vessel will start operating in the Arctic as scheduled from 20 July.

Swan Hellenic chief executive Andrea Zito said: "We are happy to have secured SH Vega, a Polar Class PC5 vessel with state-of-the-art ship technology and sustainability that will enter service as planned in July.

"We look forward to welcoming our guests onboard SH Vega to experience our cultural expedition cruises in sophisticated elegance, commencing on the 20 July from Tromso, Norway."