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Morning Market Commentary

Aug. 6, 2014

Clean East |  LR2s are still holding steady despite the fact that there have been no fresh fixtures/cargoes.  The LR1s are on a bullish run due to the amount of cargoes available until the end of August.  Eventhough the list is list, MR owners are starting to get excited about the strength of the LR1s and some are saying the LR1 cargoes may be split on to two MRs instead. 

The Singapore region is still a bit quiet with ample tonnage.  Meanwhile in the north, it is getting hot and we can see more than 10 uncoverered MR cargoes until the end of August.