The momentum built by larger product tankers slowed this week, with both LR1s and LR2s cooling off.

Gibson Shipbrokers said it was a “frustrating” week for LR1s and a quiet week for LR2s after both saw gains from late August.

“Rates have flattened out but, with a few failures and ships ballasting from the West, some feel a downward sentiment,” the broker said of the LR2s, which it assessed at $68,000 per day on a time charter equivalent basis on a Middle East Gulf to Japan route.