Clean East | The AG market is still holding firm, but LRs may start to falter in the shorter term as we can see more ships are projected back in the AG. The Singapore tonnage list still looks long and the North market is currently tight and we will see rates firm up higher until the end of August.
Morning Market Commentary
July 25, 2014
Clean East | With an increase in naphtha cargoes to the East - LRs have managed to maintain stronger levels and owners' sentiment is very bullish for the coming week. LR2s have found ground on TC1 at WS 115, while LR1s on TC5 fixed at the WS 115-118 levels. The spread is thin between the two classes and some are saying there will still be room for the LR1s to achieve even higher rates.
MRs on TC12 are also gaining a little ground as some charterers may decide to break up the parcel load on two MRs instead. The Singapore region is ...
Morning Market Commentary
July 24, 2014
Clean East | LR2s are continuing their strong run and rumors of WS 115 (TC1) are circulating although no firm details yet. The Singapore region is still fairly sable; however, the north is very tight for the second decade of August.
Morning Market Commentary
July 22, 2014
Clean East | LR2s are still firm on the back of a tight tonnage list. Hearing some charterers may be planning to split LR2 cargoes. LR1s are also firming due to the stronger LR2 market, but the upside is limited. The MRs in the AG region are beginning to look better with more activity and cross-AG cargoes are calling around the mid-US $200,000 levels. The Southeast region remains weak and the list is getting even longer. The North continues to be stable and we may see some firming as the list tightens.
Morning Market Commentary
July 21, 2014
Clean East | Firm sentiment on the LR2s is holding steady due to a tight tonnage list. Owners are trying their best to test the WS 100 levels for TC1, which could probably be achieved. LR1s are jumping on the bandwagon and over the weekend WS 105 for TC5 was heard on subjects for 1-5 Aug loading.
The MRs in the AG region look stable with the help of the LRs. Meanwhile, the Southeast region looks weaker as the list is getting longer. The north continues to be stable with ample tonnage.
Morning Market Commentary
July 17, 2014
Clean East | Although the LR2 market has spiked to 75,000 x WS 96.5, the LR1s are still soft and more activity will be needed to correct the present situation. Sentiment on the MRs is generally still weak, but hopefully the positivity on the LR2s will spill over.
Morning Market Commentary
July 16, 2014
Clean East | LR2s experiencing an upward thrust for early August dates with reports of 75,000 x WS 96.5 on subs - up almost 10 WS points. Will be interesting to see if this can help the other markets, which are currently depressed.
Morning Market Commentary
July 15, 2014
Clean East | The LR1 and MR markets are still soft with little fresh activity. Heard 55,000 x WS 96-97.5 has been done a number of times. However, a bit more positive for LR2s as a number of vessels are being fixed and keeping the market firm. Let's see what midweek brings us.
Morning Market Commentary
July 9, 2014
Clean East | MR sentiment is still soft in the AG. Minimal activity in West Coast India and Singapore. On the LRs, a ship has been reported to have been fixed below the WS 80 level for an LR2 (AG/Japan), indicationg a softening of the LR2 market and further downward pressure on the LR1s.
Morning Market Commentary
July 8, 2014
Clean East | LR2s are holding steady around the WS 80 region, while LR1s are still facing weak sentiment. The MR list is still long and a few cross-AG voyages have been done in the low US $200,000 levels. Singapore continues to remain soften with the lengthening positions and more prompt MRs seen. The North is looking to remain stable and some replacement voyages are expected to be seen due to typhoon No. 08 affecting the Japan to Korea regions.
Morning Market Commentary
July 3, 2014
Clean East | LR2s in the AG region are looking stable at the moment as there are new fixtures seen for TC1 at WS 80 and owners are trying for higher. LR1s are still quiet and heard WS 97 done by Shell on TC5. MRs continue to be weak and the positions are getting
longer. In the Straits region, the MRs are looking stable but on the weak side. North is still looking okay and rates are softening.
Morning Market Commentary
July 2, 2014
Clean East | Two additional LR2 fixtures and heard WS 80 for TC1 was done for mid-July loading. Outlook for LR1s is still weak due to a lack of activity and MR list is still too long. No changes in Singapore or the North.
Morning Market Commentary
July 1, 2014
Clean East | Although there were more LR2 cargoes in the market, the numbers that were heard on subjects wasn't very exciting. No change on LR1 or MR activity in the region and positions are still long. The Southeast market is still weak and the North market looks softer with some fixtures seen below last done.