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. Sentiment is firm but cargo volumes remain insufficient for rates to make big gains for now.

The MR market in the North has seen little change, with market participants waiting to see what the following week brings.