Swan Hellenic has won a tender to acquire a new ship after beating off rival bids.
Helsinki Shipyard exercised the right to sell the ship by tender after the original buyer – Russian-owned leasing company GTLK – failed to take delivery of the vessel.
The auction ended at midnight on Friday “and was satisfactory for Helsinki Shipyard, which analysed the bids and declared Swan Hellenic the winner”.
The shipyard and Swan Hellenic will now enter into a new agreement for the completion of the 192-passenger vessel.
SH Diana is due to be delivered in March 2023 to start cultural expedition cruises in the Mediterranean from the beginning of April as planned.
Swan Hellenic originally contracted with Helsinki Shipyard to build three luxury expedition ships which were being financed by GTLK Europe.
But after sanctions were imposed following the Russian invasion of Ukraine, GTLK was not able to make progress payments on the ships under construction.
Swan Hellenic laid up its first new ship SH Minerva earlier this year while it worked to exercise a purchase option under the contract with GTLK.
Helsinki Shipyard also conducted a tender for second ship SH Vega after GTLK Europe failed to take delivery.
Swan Hellenic chief executive Andrea Zito said: “We are happy to have secured SH Diana, a Polar Class PC6 vessel with state-of-the-art ship technology and sustainability that will enter service as planned in April.
“We look forward to welcoming our guests aboard SH Diana to experience our cultural expedition cruises in the historic regions for which they were first conceived.”
Kim Salmi, Helsinki Shipyard’s chief executive, added: “The shipyard is satisfied with multiple inquiries and received bids.
“We are also happy to announce Swan Hellenic as winner of the tender, as it naturally helps next step, the fast agreement and continuation of works for completion of the vessel according to the plan in March.”