Owners saw redemption last week as rates rebounded and sentiment was strong. Though the position list on the LR2s looks a tad tight, there has not been much fresh enquiries looming. Things are looking positive as well for the LR1s as tonnage stays healthy combined with increased enquiries. Charterers seem to be holding out for last decade March, waiting to see conclusion of rates from one another. It will be an interesting week moving forward to see how much the indices creep upwards.

MRs have held steady throughout the course of last week as rates stayed firm mainly in the North. Singapore still remains subdued as compared to the North.