Asian benchmark VLCC freight rate hit the year’s high Thursday on the back of impending Iran sanctions, surging bunker prices and a widening WTI-Brent spread, as charterers rushed to fix their cargoes for the winter months. Receive daily email alerts, subscriber notes & personalize your experience. Register Now Looming Iran sanctions resulting in rush to fix vessels Widening WTI-Brent spread creating ton-mile demand Weather-related delays tightening ship supply side For the first time this year, the key Persian Gulf to China 270,000 mt route breached the 70 Worldscale mark with China’s Unipec widely reported to have hired the Maran Aphrodite at w71 basis October 24-26 loading. Late Wednesday, China’s newly launched Rongsheng Petrochemical Company placed the Xin Long Yang for a Persian Gulf to China voyage to move 270,000 mt crude at w70 for October 23-25 laycan. S&P Global Platts assessed the Persian Gulf-China 270,000 mt route […]