Asian VLCC rates close to 2-year high as tonnage supply tightens

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VLCC freight rates for hauling crude from the Middle East to North Asia neared a two-year high Aug. 29 on the back of burgeoning oil demand and following altered trade flows which began with the Russia-Ukraine war. Platts assessed the benchmark VLCC freight rate for Persian Gulf to China route, transporting 270,000 mt of crude, at w80, which is equivalent…