One Ocean Expeditions, the Canadian one-ship expedition cruise operator, has entered administration following long running financial problems that started with tonnage chartered in from Russian principals, reports say.

RSCG Resolute, the company’s only vessel that used to be known as Hapag-Lloyds’s Hanseatic before, had been arrested for debt in Argentina since the autumn.

The company used to charter in Russian icebreaking tonnage as well, but last summer both Akademik Ioffe and Akademik Sergey  were seized by the Russian government and returned to Kalingrad on the Russia’s Baltic coast, the Daily Telegraph in London reported at the time.