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. On the LR1s, an influx of 3rd decade cargoes has also propped rates up by at least 10-15 pts from last done of W115. With 3rd decade enquiries consisting of Shell, Chevron, Vitol, Idemitsu, Trafi, Noble, BP, Total, Owners will be looking to maximize their returns from this period. Likewise on the MRs sector, higher numbers are being done on AG/WCI going into Africa and Far East.

MR rates in the North and South of Asia are also firming up fast, with North Asia being the more bullish sector of both. With the diminishing list of ships towards the end month, we will likely see higher rates getting concluded. It also seems like Owners are sitting back waiting for one another to set the tone for the market.