Nothing much has changed from yesterday with cargo enquiries staying muted across the LR1 & LR2 Market amidst a healthy list of ships.
The MR market is seeing a tad more movement with the North more active compared to South East Asia. Rates are expected to firm up towards the 3rd decade fixing window. The recent release of a new batch of Chinese product export quotas are likely to lend support to more cargo volumes as well. Short hauls in the South are keeping the ships busy and providing a slight boost to rates as well. This can be attributed to Ramadan season which typically leads to an uptick in gasoline imports into Indonesia.