The LR2 market has seen 75@W93.5 repeated several times for the key AG/Japan route. The LR1 market is relatively stable, with owners indicating that further downward pressure is expected with ample ship supply. As Japan was off on holiday yesterday, more activity is expected to come into play today.

The MR market in Singapore and the Far East was stable yesterday, with strong owner sentiment seen. We shall see how it plays out this week.