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Morning Market Commentary

June 30, 2014

Clean East | Positions look tighter on the LR2s, which means we have seen the bottom for this class.  Activity on the LR1s is still muted and tonnage is ample.  No changes on the MRs in the AG region.  Tonnage is still long and sentiment is weak.  In the Straits region, sentiment is also become weaker due to the lack of activity in Singapore.  North is the only sector which is stable for the moment.