Italian owner Navigazione Montanari has bought a French MR1 tanker with new domestic finance.

London law firm Watson Farley & Williams (WFW) said it advised the company on the acquisition of the 37,000-dwt product and chemical tanker Astella (built 2011), now renamed Valderice.

The price was not given, but VesselsValue assesses the ship as worth $27m, up from $23m two years ago

The seller is France's Socatra.