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

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

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.