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Morning Market Commentary

Aug. 7, 2014

Clean East | LR2s are still firm on tight tonnage; however, no fresh cargoes are being seen.  LR1s are on a bullish run with cargoes until the end of August.  Hearing some fixtures are being doine around WS 120-125 on TC5.  MRs are finding strength on the LRs and we may see some fixtures fixed higher than last done.  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 uncovered MR cargoes until the end of August.  Charterers are rushing to fix their cargoes.