Wheat ban whets dry bulk

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Published: Thursday, 12 August 2010

Shipping rates up as Russia stops grain exports and China resumes iron ore buying

Shipping rates for dry bulk, the benchmark cost for transporting many industrial minerals including bauxite, phosphate and salt, rose this week due to Russia’s ban of wheat exports and Chinese steel makers replenishing inventories.

Russia’s ban caused wheat buyers to charter vessels to load grain from other ports,...

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