Rates seem to be stable on the LR2s but there are doubts if they can remain at current levels for much longer as cargo enquiries start diminishing. LR1s on the other hand have been slightly more active with rates 55@W117.5 being concluded. Ship supply seems pretty well balanced with Cargo enquiries, thus we believe that Chtrs wouldn’t have any problems getting mkt lvls done.
On the MRs, activity has been very much busier in the Far East region. With an influx of backhaul cargoes, Chtrs are struggling to get last done rates concluded as rates are firming steadily. It will be an interesting week to see what happens on the backhaul market.