The LR Market has started the week off on a stable note. Rates are more date-sensitive on the LR2s as 1st decade April enquiries lessen. In comparison, the LR1s are holding steady with still uncovered cargoes for 3rd decade March.

MRs have held steady with the North being the more dominant region due to increased movement to OZ. Singapore remains muted with few fresh enquiries seen.

We seem to be stuck in an up and down cycle week on week. It will be interesting to see which point of the cycle we’re at this week.