Approaching Golden Week, Chartering activity has been rather brisk causing rates to be firm/stable. The clearing of the backlog of ships on the position list has given Owners optimism moving forward. Currently benchmarking the rates 75@W85 and 55@W105, Owners are putting their foot down and resisting lower numbers.  

Elsewhere on the MRs, Rates continue to remain flat on weakened demand while ship availability remains healthy.