SL-14, a wholly-owned subsidiary of First Ship Lease Trust (SGX:D8DU) has entered into a memorandum of agreement to sell its vessel "Speciality" for an undisclosed amount, according to a Thursday filing to the Singapore Exchange.

The vessel is a 4,426 DWT product tanker built at Qingshan in China in 2006, and has been employed under a bareboat charter.

The buyer has already placed a 10% deposit in escrow to acquire the vessel.