New-York tribune., 1921-03-09
Shipping Decline Is
Not at Bottom Yet
Says Holt Line Head
Situation TO Solve Itself
When Sufficient Ships
Are Laid Up; More High.
Grade Freighters Needed
Frcn The Tri5use's Exyop.an Bur.c,


LONDON, Feb. 1s.-"Bottor, tas not
yet been reached in the shipping de-
pression," said Mr.. Richard D. Holt. of
the Alfred Holt Steamship Companv
of Liverpool, to-day.
We cannot expect good time. in
until there are a resumption
OF normal trade and RESUMPTION Of
normal production throw. hout the
world. would point out, however
that the present shiYping stump has
not affected the old 'cstabh he'd lines
as badly as it has hit the tramp own
ers and the new shipping firms that
Sprang up during the war boom. The
oia INES have their trade routes and
furthermore most of them have re
serve fund built up durine the war
Doom. They are figuring on this to
carry them over the depression. 1t is
the little ship owner and the specu-
4ator who bought ships when tonnage
and rates were high vho is now suffer
ing the most.
he situation will, Of course, solve
itself. To-day there are few cargoes
and low freight rates. Ships are being
iald up and more ships will be laid up
until the proper ratio between ships
available and cargoos available is
reached. From that point business will
again begin to build up.
One phase OF the present situation
IS the fact that there are too many
war built ships at tie resent time.
During the war both ENGLAND and
America turned out vast numbers Of
1000 to 5000 ton vessels. They were
hastily built, on simple lines of con-
struction- Some were very good ships,
many were poor ships. At all events,
there is an over-supply of such ships
at present. On the other hand, there
is shortage of high class freight
vessels and passenger ships. During
The war there were heavy losses In
ships of this class-the large, we'll
built twelve to fourteen knot freight
ships do not fill their place and the
need is seriously felt OH the long trade
runs. This type of ship will have to
be built IN sDite of the fact that there
is an excass OF the other tyre
THE day OF the giant ocean liner is
probably past. In the future there will
doubtless be no more big ships built,
but there VIII be many medium sized,
speedy. comfortable passenger ships of
$4,000 to 25,00o tons to take their place.
II do not feel anxious about the
unionizing of the men-a phase Of the
present situation that disturbs many
shipowners. After all. the wages of
the deck, engineer and stewards forces
are a small item compared with the
other running expenses coal, upkeep
pilotage and port charges To eticient-
iy run ship you must have con
tented, hardworking crew, and they
must be we'll paid. II the men make
anv impossible demands these can be
resisted.
The United States has become a
great power in the shipping world, but
Cooperation rather than competition
will solve any problems that may
arise. Like England, tie United States
needs more fast high class freight yes
sells and has a superabundance of the
slower war-built boats.
From the English point Of view We
find it difficult to cooperate with the
American organizations because of the
unsettled status of shipping under the
United States Shipping Board and the
American laws about combinations. VI
course, the tariff is another bar te
trade. | have always been free trader
in England and I believe that tree
trade is the first essential or sue
cessful merchant marine. Unless the
flow of commerce is unhindered the
ships will not find return cargoes ano
shipping will suffer.