First Ship Lease Trust has entered into another definitive agreement to purchase its second Long Range II (LR2) product tanker from TORM Singapore for US$46 million. Vessel delivery is scheduled to take place within June 2011.
'TORM Marie', a sister vessel of 'TORM Margrethe', which FSL Trust acquired last week from TORM, is a 2006-built, 109,672DWT product tanker constructed by Dalian Shipbuilding.
Following the completion of the acquisition, 'TORM Marie' will be leased back to TORM on a bareboat charter basis for a base lease term of seven years.