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.

MR market in the Far East has been stable with both owners and charterers being satisfied to fix at last done level. Singapore side is more active comparing to the North. However, the effect on rates has not yet been felt so far.