Tanker Market Commentary

Sept. 29, 2014

Clean East |  Market starts the week on a quiet note amidst the commencment of the yearly APPEC. LR2s are holding stable but the LR1s and the MRs in the Arabian Gulf region are looking softer for this week. The southeast region still looks firm as some promptish cargoes were seen done at higher rates due to a very tight prompt list. The north was seen soft due to ample tonnage, however there were some activity seen in the first decade of October which held the north steady. The coming Muslim holidays, Chinese golden week, and Japanese holidays would probably keep the market muted.

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