Asian Aframax rates hit 2-year low amid ample supply as cargo volumes fall

Asian Aframax freight rates hit a two-year low June 22 amid a sharp decline in cargo volumes and an increasing surplus of tonnage in Southeast Asia and the Persian Gulf, S&P Global Platts data showed. The key Persian Gulf-East route basis 80,000 mt was assessed at Worldscale 60 on June 22, equating to $12.34/mt. It …