Margins ahead of guidance because of: Better commodity costs than planned, leverage on higher revenue, lower other product costs including freight, phone support, etc.

指导前利润因为：比预计低的商品成本，高销售收入的杠杆平衡，较低的其他成本包括飞机票，电话等等。

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The dry-bulk market was also tiny until 2003, when rates took off as China began to import huge volumes of raw materials and rising freight costs became a bigger slice of commodity prices.

干散货市场过去也很低迷，直到2003年，随着中国进口了大量原材料，以及物价随运费支出的上升而上涨，干散货所占的比例开始提高。

youdao

There are signs that commodity demand from China has begun to slow down and shipping freight rates have started to fall.

有迹象表明，来自中国的商品需求已开始放缓，航运运费亦已开始下降。

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