Under the terms of the agreement, Airtours will bareboat charter the vessel to ROC for four years and will time charter the vessel back for 240 days per year for five years. At the end of the fourth year ROC will have the option to purchase the vessel for a nominal sum. Seawing will be based in Cyprus, operating 7 day Med cruises.At the same time, ROC and Airtours have mutually agreed to cancel the Airtours charter of Apollon that still has two years of the five year charter remaining. Apollon was originally chartered from ROC by Direct Holidays which was subsequently sold to Airtours. Seatrade Insider understands Apollon did not quite fit with Airtours' Med cruise programme.