New-York tribune., 1921-03-01
Third of Ocean
Ships in World
Out of Service
100000 Gross Tons
Tied Up; More Than Half
of the Shipping Boards
Vessels Are IN Idleness
1000 British Boats Out
Cargo Offerings Continue To
Be Limited: Rates Near
Bottom, English Believe


Fully third of the worlds ocean
going ships are now tied up for lack
Of cargoes and the number is increas-
ing daily. Shipping men put the figure
at about 100000 gross tons of mer-
chant vessels out Of an estimated total
: about 5o,00o.oo0 tons of deep sea-
going ships.
More than half the ocean tonnage
owned by the Shipping Board is in
Guided II the aggregate of ships laid
up for lack of cargces. The boards
total OF idle vessels Is now reported to
&c in excess of 600, with additions
being made steadily.
Figures given out for Great Britain
estimate the total number of British
vessels temporarily withdrawn from
service at ,arious ports of the United
Kingdom as less than the aggregate
Of Shipping Board vessels. The Brit-
ish total given is 577 ships, aggregat-
ne $4,000 gross tons. but these ugures
are regarded as considerably below the
resenting conditia IS at tho beginning
of February, anG were issued as q
denial to The statement of Consul Gen
erA' Skinner. at London, that ncally
J thousand British vessels had been
withdrawn from service
1000 Idle British Vessels
Il is pointed out, however, that the
British figures are incomplete. No re-
f~-. Z
don, and this, coupled with the fact
that there has been a steady decline
n tonnage emp loyrent during the
last month leads American shipping
men 70 believe that Mr.. SINNERS tc-
ures are even smaller than the present
actual total
A slight increase in the amount Of
cargo Offering for sh ipment from the
United States is noted IN some quar-
rsrs. bu- the general situation con
tinues unsatisfactory. "A large amount
Of merchandise has been held awaiting
reductions in ocean freights, however,
says The Nautical Gazette, "and Will
ne sent forward. OF late. however
cargo offerings have been limited. and
lew outgoing ships have carried more
than 20 per cent of their CAPACITY,
walle n many cases returning voyages
rave heer made in ballast. Business
aas been dull IN q The trades. AMI in
me opinion of experienced exporters
this IS likely to continue until some
system u long term credits TO fore gn
buyers has replaced the short-term
credits that exist at present"
According to an official of ono of the
transatlantic steamship companies. it
IS stated, the decision Of the Shipping
board TO apply 10 oatmeal, barley and
other grain products the same DIFF
ierential as was granted to -four last
November Will reduce the earnings of
freighters in the North Atlantic trade
fally ID per cent. In taking this ac-
tlon the Shipping Board is said to have
disregarded the protests of ship-own-
ers and operators, and while reducing
the number Of steamers has failed to
create new business.
Depression In Coal Trade
he export coal trade continues TO
ee depressed.' says A statement issued
by A. H. Bull & Co. on chartering
conditions. "Compa ratively speaking,
there was slight increase during the
past week n the number of inquiries
or tonnage, but very little actual
business developed. A few of the older
companies and those with contracts
we're able % ship, blt the total num-
eef or cargoes was not sufficient to en-
pioy all OF the vessels offering. Dur
lns the past month there has been a
tendency toward frmness in the South
american trade Otherwise rates have
not changed greatly.
Many 7essel-owners continue to lay
Up their ships, but foreign tonnage
is plentiful enough for ali reouire-
Ments. American sail tonnage con-
tnues to offer freely, but there has
oeen very little cargo in the market" ."
ooal continues 10 be carried to Rot
1erdam at the lowest rates on the pres
~ -ec!lne. s3.85 per ton. British YES
seis nave been carrying at this rate,
aIo qua during the past week Dutch and
norwegian vessels came into the trade
az the same figure. To South America
sae rates have ranged during the week
rom $3.50 70 s6.25. American vessels
ars getting some of this business.
English View Is Hopeful
That the end of the decline is near
terests,
"Ihe volume of business passing
throughout the world is so small saws
Nunclman & Co, of London. chat ii
very difficult matter to propose
payable freIghts in any direction. w
nave been through these depressed
INES before, however, and we feel
sure having now reached a level
ware 1t takes very clever ship owner
20 make ends meet, that the bottom is
slmost amos, IN sight and very shortly there
wiu be SO many boats tied to the
ocoys IN different parts of the world
.ast those boats free for employment
Tll De able to get freights which. if
,laey 90 not show good profit will at
4east pay running expenses.
Already the outward market for the
i0ng trades is improving and in our
opinion must improve, otherwise own
srs cannot face the rates Offering
homeward to- day"