Irish Continental Group has agreed a deal to buy the high speed vessel "Westpac Express" from BALI Westpac 2006 for $13.25m.
ICG said that under the terms of the agreement, title to the vessel will transfer to it on delivery which is expected by late May.
The vessel was built in 2001 by Austal Ships in Australia. It has a gross tonnage of 8,403 tonne, passenger capacity of 900 and a car carrying capacity of 182 units.
ICG said that the vessel will be chartered to a third party - Sealift - for a period of four months with four further one year option periods and a final seven month option at the charterer's option.
