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Pacific Bulk Freight Rates Set Record
VANCOUVER - Jan 7/04 - SNS -- Ocean freight rates established new records today and brokers believe freight rates will continue rising at least through the start of the Chinese new year on January 22.
Reports carried by the Reuters news wire service say panamax rates from the U.S. Gulf to Japan have reached U.S. $55 per metric ton (MT) for February and March on the basis of strong demand for bulk grains and oilseeds, iron ore and coal.
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