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.

Singapore side, MR rate has been firm with TC7 earnings being particularly outstanding. The North MR market has been steady even with LR1 rate setting the ceiling for MRs.