Greek product tanker owner Benetech Shipping is boosting its fleet of larger ships by taking a 14-year-old LR1 product tanker from Japan’s Meji Shipping.

US shipbroking sources said the Michael family-controlled shipowner has paid $11.4m for the 74,000-dwt Eternal Diligence (built 2006), a long-range-two tanker built at Onomichi Dockyard.

That's well below price estimates by Maritime Strategies International and VesselsValue that put a tanker of Eternal Diligence's characteristics at between $13.1m