Asian Aframax freight rates reach over 2-year high on strong market fundamentals

The freight rate for hauling crude from Indonesia to Japan jumped to $24.76/mt on Aug. 1 — the highest since January 2020 — following a major shift in trade flows of various dirty petroleum products, tight supply of ships in Asia and elevated bunker prices, market sources said Aug. 2. The same route was commanding a freight rate of $24.59/mt…