Sincere Navigation (TPE:2605) subsidiary, Potter Grand, has agreed to acquire a 109,258-deadweight ton Aframax crude tanker for $41 million, according to a Wednesday filing with the Taiwan Exchange.

The vessel is being purchase from KAMRIN No. 17D and will be leased back to it under a bareboat charter to maintain existing operations.

The charter runs until 2029, with an option to extend by one year to June 2030.