Charterers are in no hurry to fix their enquiries with LR2 and LR1 tonnage availability remaining relatively healthy. Current freight levels are at 75@W105 and 55@W115 respectively. On the LR2s, most 1st decade cargoes have been fixed, leaving the remaining open ships to roll over to 2nd decade. Likewise on the LR1s, Supply has outpaced demand. Owners are looking to hold on to the current optimism while it lasts.
Things are looking a tad brighter for the MRs. An lnflux of 1st and 2nd decade cargoes up in the North mostly from SKorea and China are causing rates to inch up bit by bit. It will be interesting to see what numbers get done this week. On the downside, Singapore continues to remain quiet.