New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1920-09-23
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Shipping Earnings Heavy


Explaining how its estimates on
shipping earnings are arrived at, tho
Board Of Trade says:
"In January it WAS estimated that
she earnings from shipping. not
Invisible profits. but the charges for
carrying goods, would amount to ST.
800 ,000, 900 in 1920. This figure, since d.
rect information was not available,
was based on the supposition that the
freghts earned by cargo liners will in
the long run be measured by the rates
for the time chartering Of tramps and
passenger business to-day, the rates
earned by passenger liners will not be
less in proporti@n to tonnage than
those earned by cargo steamers.
an estimating the total British
to be added the charter money. the
value of bunkers shipped in British
ports and the amount of British port
dues (both paid by the charterer). Any
profits made by the charterer in ship
ping parcel cargoes will also be addi-
tional charges on the goods carried,
while expenditure on stores in for
egn ports (paid by owners) will, ma
tionally considered, be set-off
against the charter money.
"The gross tonnage of British ships
employed in trading between the
United Kingdom and countries oyer
seas ring the first half of 1920 may
be taken as 100000 tons measure
ment, or 25.500,0O0 tons lightweight.
due lowance being made in these
figures for shipping laid up for re-
pairs.
FluctuatFon in Charters
"Rates for time charters for one
year fell to L shiilings pence a
ton lightweight in June, from %
shlllings at the beginning Of the
year When time charter rates
latter inclusion OF bunkers and sun
dry adjustments) are considered as a
measure Of freights earned it is to be
remembered that the rates quoted are
the rates at which it is expected that,
on the average, continuous business
could be done over the period of the
eharter, and do not necessarily meas
ufe the earnings Of the month Of quo
tation.
AS dlticulty IN finding charters was
not prevalent until the month Of April.
u does not appear reasonable after
weighing all the evidence available, to
axe 20 shllfings 8 ton deadweight
moatn as the average rate of earnings
On Time charters during the six
months ended June 80 last and to an
ssipste that the average rate for the
following six months will be % shill-
,,ass slxpence month. To this should
Ss added the port dues paid by the
eearterer, and there will have to be
ss1 on as already mentioned, the equi-
Eaient OF the value of the stores pur-
sa a.. abroad by the shipowner.
10. make up the full charges on
Soods' the cost OF bunkers must be
AAen into account. The quantity Of
soai shipped at British ports for the
sse OF steamers in the foreign trade
was almost the same in the first two
yaarserB Of 1920, and the total for the
'ss1 year was o,112, 900 tons. The total
t 20. me whole year may be taken at
~. tons, compared with an aver
50. go OF is,9b5 900 tons for the FIVE
ssssrs l9os-I3. 1t would appear fair
esze the average cost of bunkers
~. the first six months Of the year
,s;u go shl!hngs ton and TO expect 80
'uaa.rl1nhgs Tor the second half year.
g.. me total charges on goods in the
:. six months Of 1920 would thus be
~.Oa. 81 II ., 900 900. More tonnage will
S.y be aaoat in the second half
ana so proportienately more
h'ngs should be made at the same
49, setting OFF this increase against
81 osesestimatlng in other respects
"a, sdopeing the reduced rate Of char
A., money and the lower cost Of bunk
1914 ee.ir1nings in the second half Of
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