The LR2 Market firmed up considerably over the last week. Rates have been relatively stable approaching the end of the week and little has changed over the weekend with ships been put on subs at 75kt@W114. LR1 rates have not been affected by LR2 rates spiking and held steady since beginning of last week till now.

The MR market in the Far East has been stable as well but it is worth looking out that the open tonnages are getting bigger.