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 holding steady with activity focused on ECI imports.  The North continues to be firm on the back of a tight tonnage list. 

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