Both TC1 and TC5 saw a boost at the start of the week as both markets firmed considerably. With a thinning tonnage list, Owners sentiment is strong and they are bullish in getting higher than last done rates. With both LR2 and LR1 markets complementing each other, hopefully the current pace of fixing will sustain as the list of cargo enquiries builds up. It will be interesting to see what this week brings as the rates start creeping upwards.

Both LR1 and LR2 markets held steady on Friday as a few fixtures repeated the last done numbers. With the Saudis coming back from the holiday, more activities are expected and it strengthens owners’ sentiment. We shall see what it brings in this coming week.

Over the week, the LR2 market has seen little change with healthy amount of cargoes. LR1 rates dropped a few points and now owners are standing their ground. There is no shortage of cargoes but ships are abundant as well. Overall, it is steady for now.

The LR2 market has seen 75@W93.5 repeated several times for the key AG/Japan route. The LR1 market is relatively stable, with owners indicating that further downward pressure is expected with ample ship supply. As Japan was off on holiday yesterday, more activity is expected to come into play today.

As more cargoes flood the market, both the LR1 and LR2 markets firmed after a quiet start to the week. Tighter requirements from charterers looking for tonnage with last cargo naphtha also lent support to the market. LR2 rates were up by W10 points from the beginning of the week to 75@W102.5.

The LR2 market held steady over the weekend after rates inched up on Friday. It seems as though Chtrs are withholding second decade August cargoes to avoid the firm market. The LR1 market is stable as well but healthy ship supply may keep a lid on rates.

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 outage at Shell Pernis refinery has successfully boosted the momentum of the LR market with more middle distillates flowing to West from East. Strong owner sentiment has sent rates higher and higher. It has been a fruitful week for the LR market, supported by the fundamentally tight position list and surge in demand to move cargoes West.

LR rates held steady over the weekend as charterers dug their heels in and refused to give in to owners’ attempts to push up rates. As the fixing window moves forward, more fresh cargoes are needed to sustain rates at current levels.

The LR segment has been on fire over the past two weeks due to strong naphtha demand in Asia and refinery outages in Europe. LR2 rates have been relatively stable while LR1 rates firmed up as some vessel schedules were affected by typhoon Noru. As a result, demand for replacements helped to drive up rates.

Little change has been seen over the weekend despite the slowdown in activity for LR2s. A couple of LR1s have been fixed at last done levels of 55@W135. Overall rates have been pretty stable.

The LRs market softened over the week even though tonnage supply appears to be tight. While there was no lack of fresh cargoes, rates saw a downward correction during holidays in the East. Rates are expected to hold steady for now.

The LR2 market held steady to firm over the weekend, with tight tonnage seen in the Persian Gulf. Rates may firm further over the rest of the month should there be an influx of cargoes. In contrast, sentiment in the LR1 market appears to be more on the downside.

The LR market firmed yesterday as LR1 rates went up. However, it remains to be seen whether there will be sufficient activity to support the momentum given the fact it is a short week and some participants are away during extended holidays. The position list in the AG for both segments looks healthy for now.

Little has changed in the LR market since last Friday as owners failed to grab a premium for Qatar loading. Abundant tonnage supply in the region seems to have outweighed any effect from the Qatar diplomatic crisis. Market sentiment is soft for now.

Nothing much has changed from yesterday with cargo enquiries staying muted across the LR1 & LR2 Market amidst a healthy list of ships.

The LR Market held stable overnight. Fixing Window is in the 3rd decade with only a handful of cargoes surfacing. However, owner sentiment remained optimistic and unwilling to succumb to the downward pressure brought about by the amply supplied tonnage list.

As the week drew to a close, we failed to see an uptick in rates. Market sentiment appears to be be more on the downside. With the LR2 and LR1 Market amply supplied, how much further will freight rates drop? With the Qatar Diplomatic crisis causing a bit of an uproar in the industry, we’ve yet to see the impact it has on rates. We will also be expecting to see the LRs competing for the MR business.

LR2 rates on the AG/JPN route were stable at WS90 except for the Qatar loading which requires a premium of 2.5 points as supported by recent fixture. LR1 rates were under pressure as most fixtures were concluded at WS105. Naphtha cargo inquiries are abundant but it was not enough to light up the shadow casted by the shortage of other product cargo inquires

LR2 rates did not undergo any change while LR1 rates seem to be softening a bit. Any potential issues with co-loading seem to have been resolved with the lifting of restrictions on vessel movements to and from Qatar.

Sufficient activity on the LR2s has seen rates stabilize. With the fixing window moving into 3rd Decade June, an influx of cargoes is necessary for rates to improve. On the LR1s, supply seems to be outpacing demand though rates remain stable at present.

LR2 rates were stable while owners trying to bring up rates without success. LR1 rates were in similar status as last few fixtures on the AG/JPN route are fixed basis 55@WS110. There are limited number of ships available for the next few days but the list get long for the next few weeks. Rates are facing downward pressure.

LR2 rates in the East are not moving up any further after climbing by 2.5 points earlier. LR1 rates on the other hand have inched up slightly with 55@WS110 on subs for the first decade of June. Charterers are currently being squeezed a bit as they try to find replacements amidst a shorter list of ships.

The LR2 market remained relatively quiet on Monday, while the LR1 market has picked up with current fixtures being concluded at WS105 as owners put up resistance. However the LR1 position list is still long, with a number of vessels currently fixed on shorthaul voyages and expected to be reopen soon.

There has been nothing much to speculate about the LR market since last week. On a positive side, LR2 Owners are putting up stiff resistance against fixing at lower than last done rates. Though the position list still looks healthy, a handful more cargo enquiries are helping to keep the rates stable. For the LR1s, Owners would be looking to keep their ships from sitting with short hauls till the next fixing window.

Both LR1 and LR2 rates have stabilized at current market levels, with the market appearing to have bottomed out. This is largely due to a relatively balanced tonnage list and cargoes. Owners are currently digging in their heels and refusing to fix at lower than last done levels, while charterers are trying to take advantage of lower rates before they recover.

75@W85 was the benchmark at which most 1st Decade June cargoes were concluded. Owners are holding firm and putting up some resistance. While the tonnage list remains healthy with ample supply, Owners are still seeking to get better returns amidst a softening market.

LR Rates continued their downwards spiral as tonnage continued to accumulate as each day passes. It seems like we are back to Square one again as earnings now hover within the 5k per day region. Lower demand for naphtha cargoes in the North has been a major factor behind this slowdown.

To start the week off on a positive note, rates on the MRs have picked up considerably, notably in the North region. An influx of cargoes for 3rd decade May has driven the surge in rates.

It does seem as though Charterers have prevailed after all. With the supply of ships outpacing demand, rates continued to weaken for both LR2 & LR1 Mkts. Charterers are expected to go in for the kill, with the question being whether Owners will be able to resist.

LR2 rates have continued to ease, hitting 75@W90 as the surge in 2nd & 3rd decade May cargoes has proven unsustainable amidst a lengthy tonnage list. It seems as though Chtrs are withholding their cargoes and sitting back to see how much further rates will drop.

It’s been a quiet start to the week with activity yet to pick up even as we approach midweek. The LR2 fixing window is already moving into 1st decade June amidst a lengthy list of 20 vessels up to end May.

The TC 1 inched slightly upwards with outstanding third decade May cargoes still lingering around waiting to be fixed. With Owners still bullish about rates due to tighter tonnage availability, Chtrs seem to be struggling slightly in getting things done

The LR2 Market continues to firm up as indices inched their way up overnight. Definitely a positive start to the week as Sentiment seems to be more bullish, with owners definitely seeking to do higher than last done rates.

LR Owners saw redemption last week as rates rebounded and sentiment was strong. Position list on the LR2s looks a tad tight with fresh enquiries looming.

The LR2 market firmed overnight as a tighter position list caused rates to inch up slightly, leaving Charterers scrambling to cover their cargoes. Apparently there are a couple of 2nd Decade cargoes still outstanding while most 3rd Decade cargoes are emerging and being put on subs.

We’re starting to see more punchy numbers for the LR2s. There is no denying that Owner sentiment is much firmer and Owners are getting bullish in seeking higher rates. W90 has been rptd to be placed on subs for SKS Demini by YNCC. We believe Owners will use that as a certain benchmark now and not settle for anything lesser.

Approaching Golden Week, Chartering activity has been rather brisk causing rates to be firm/stable. The clearing of the backlog of ships on the position list has given Owners optimism moving forward.

As LR Owners are hoping for a resurgent market, but it does not seem to be happening anytime soon. With the increased activity on the LR1s to keep the rates stable, Owners are standing firm in their unwillingness to drop rates.

Activity seemed brisk over the past 2 days on the LR market at what seems to be almost bottomed out rates, 75@W85 and 55@W100 respectively

There wasn’t much activity last night with London being away on holidays. Rates maintained at last done levels with the continuation of sluggish demand on the LR Market.

A quiet end to last week. It seems like the Market is bottoming out all around the East Of Suez. Activity has been rather muted on the LRs and MRs.

As the week draws to a close and we head into the long weekend, we failed to see an uptick in yesterday’s activity. Market sentiment appears to be be more on the downside. With the LR2 Market dropping another 10pts ,75@W90 which BP placed on subs for a main haul on the Maersk Petrel, how much further will freight rates fall?

A dearth of cargoes continues to weigh heavily on the LR market, where rates are dropping sharply and rapidly. With the supply of ships outpacing cargo demand, the rates are only going to spiral downwards.

The Market seems to be set with gloomy overtones. Lessened activity and a piling list of ships has taken its toll on the LR Market out of the Arabian Gulf. How much more room there is for LR rates to fall.

As expected, muted cargo enquiries have caused the LR2 rates to come off quicker than expected. Current benchmark is 75@W100. While Owners are trying to be resilient, it seems like there is little they can do about it.

The LR2 market remains listless with very little activity going on. It is now a question on everyone’s mind on where this market will bottom out. Tonnage is beginning to pile up week on week with lower enquiries seen. Owner resistance on rates seems to be wearing off as most are willing to offer in at lower than last done levels.

Rates on the LR2s have begun to show cracks as cargo enquiries remain scarce amidst a tight supply of ships.. We won’t be surprised if cargo flows remain muted over the next 2 weeks due to lower spot naphtha purchases for 2H April compared to 1H.

An active start to the week as the LR market held steady with decent activity. On the LR2s, tonnage seemed to be slightly tight for the month of April, however the lack of fresh enquiries has kept a lid on freight rates

The LR2 market was stable overnight with a handful of fixtures placed on subs at what would be a benchmark level of 75@W110 for 1st Decade April cargoes. The list of ships still looks fairly healthy up to 2nd decade April while relatively strong Owner sentiment continues to drive the market.

The LR Market has started the week off on a stable note. Rates are more date-sensitive on the LR2s as 1st decade April enquiries lessen. In comparison, the LR1s are holding steady with still uncovered cargoes for 3rd decade March.

Rates held steady overnight on the LR2s. Though positions remain tight for the 3rd decade window, there aren’t many cargoes left either. With fresh enquiries emerging for 1st decade April, it seems like the focus has shifted there instead.

Bullish sentiment was sustained across the AG/WCI Market in the product tanker sector. It will be interesting to see what levels the remnants of 3rd Decade cargoes get fixed at amidst buoyant Owner sentiment.

Firming sentiment has been seen across the AG/WCI market. It does seem pretty optimistic for LR1 and LR2 Owners. It will be a challenge to get 3rd decade cargoes fixed anywhere near last done rates of W105 lvls with the bullish sentiment setting in, brought about by the tight position list up to end March.

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

The LR Market continues to firm up as indices inched their way up overnight. Sentiment seems to be more bullish, with owners definitely seeking to do higher than last done rates.

Strong sentiment loomed overnight for the LR2s. With 2nd decade cargoes still seeking tonnage, rates are holding steady as presented by a healthy tonnage list.

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.

Activity on the LR2 Mkt seemed stable as Owners showed some resilience since the drop to W105. Rates continue to linger around last done lvls.

Charterers are in no hurry to fix their enquiries with LR2 and LR1 tonnage availability remaining relatively healthy. Current freight levels are at 75@W105 and 55@W115 respectively.

Rates on the LR2s have begun to ease as expected, down to 75@W105. The surge in 1st decade March cargoes has proven unsustainable amidst a lengthy tonnage list and there is room for rates to fall further.

A week has passed since the sharp turnaround in the LR2 market when rates hit a high of W120. Rates have started coming off shade by shade from weakened cargo enquiries.

Rates continue to hold steady on the LR2s but doubts remain if they can remain at current levels for much longer as cargo enquiries start diminishing. Mkt sentiment is currently around he W112.5-W115 lvl as supply continues to be tight.

Rates held steady overnight on the LR2s as Owners continue picking up the remnants of 1st Decade March cargoes. Things are also looking bright for the LR1s with a substantial umber of enquiries to keep rates firm.

A redeeming week it was for Owners last week with rates steadying throughout. The question looming on everyone’s minds is how long will the rates stay stable.

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.

The LR2 market is currently at its firmest over the last 4-5 weeks. Most fixtures are being concluded at W120, boosting daily earnings slightly above the 10k/day mark. Rates have shot up by 30 world scale points within the week alone. Rates for the AG/West route have increased significantly as well, up by at least USD250k.