Coming to the end of what has been nothing short of a steady week, we have not seen the LR2 indices creeping up any further. With the highest W120 being concluded on an Ag/Jpn voyage, the question on most minds is whether rates have peaked too soon. With most of the 3rd decade Feb and 1st Decade March being covered, Owners will be looking to continue holding out on rates.
On the LR1s, rates continue to hold firm overnight. There is much cause for optimism under current market conditions while they last.
Things have been more subdued for the MRs as the rates continue to come off shade by shade with lesser cargo enquiries. With SKorea/Spore being concluded at 320k-325k, Chtrs are looking to push the rates down.