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High Ocean Rates Lift Vessel Supply
WASHINGTON - Apr 14/05 - SNS -- Strong bulk ocean freight rates has increased orders for new vessels and contributed to container shortages as exporters seek alternative shipping methods for smaller lots, according to the USDA's Transportation and Marketing Programs/Transportation Services Branch weekly Grain Transportation Report.
Higher bulk rates on account of strong global demand for iron ore, coal, and other bulk commodities is encouraging orders for new vessels and delaying retirements of older vessels.
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