The LR2 segment experienced a decline in the MEG, with the 75Kt MEG/Japan TC1 index dropping, and the 90kt MEG/UK-Continent TC20 sliding. LR1s in the MEG remained resilient, with the 55kt MEG/Japan TC5 index holding steady. MRs in the MEG saw a resurgence, while UK-Continent MRs stabilized after previous declines. The USG MRs exhibited resolve, contributing to a regional freight resurgence. Handymax vessels continued their downward movement in the Mediterranean. VLCC rates showed an upward turn, particularly in the Middle East Gulf to China route. Suezmaxes in West Africa and the Mediterranean showed mixed movements, while Aframax rates firmed in the North Sea and the Atlantic.

Source: Baltic Exchange