JULY 31: The cost of shipping commodities such as iron ore and coal dropped a record 28%, reaching its lowest since March 2003, because of this year's expansion in the global fleet of dry-bulk ships.

"There's just simply over-tonnage on almost all benchmark routes," said Aarti Gupta, an analyst in Delhi for London-based Drewry Shipping Consultants Ltd. "I expect the market to continue to fall next month and then start to recover around the middle of September." ......
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