Activity seemed brisk over the past 2 days on the LR market at what seems to be almost bottomed out rates, 75@W85 and 55@W100 respectively. With this chartering activity going on, the once ample tonnage list is getting cleared out slowly with most fixtures being concluded similarly at last done levels. It is more of a touch and go situation on fixing for Owners as there are too many ships around.

Likewise on the MRs, market sentiment still remains weak as cargo enquiries remain muted.