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.

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