Ancora Investment Trust has acquired 2007-built MR1 product tanker, Alexander Spirit, from Teekay LNG Partners, multiple brokers report.

The Greek MR Product tanker specialist has paid $11.5m for the tanker according to both Seasure Shipbroking and Advanced Shipping & Trading, the price is significantly cheaper than the $12.6m valuation of the ship by VesselsValue.

Ancora currently has a fleet of 11 MRs, and if confirmed the acquisition is the company’s first in over two years.