In a statement the company said thevessels, which were built in South Korea and delivered in 2004, cost approximately$66.3m in total.
Eletson pointed out the transaction willbe funded by proceeds from the recent sale of 9.625% First Preferred ShipMortgage Notes and cash from its own reserves.
"Thisacquisition is consistent with our strategy of fleet expansion in what webelieve is an opportune time in the product tanker cycle,” added finance chief PeterKanelos.
“With
