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.

There seems to be more to comment on the MR Market with rates starting to firm up especially in the North. It seems to be like the usual month-end scramble for vessels/influx of cargoes that is bringing about the spike in rates. There is a wide spread on the SK/USWC run with rates being placed on subs rptd at 850k and 950k respectively. Rates will continue to creep upwards as we move forward this week.