New-York tribune., 1921-02-02
Collapse i'm
Market for
Ships Abroad
Best Bid Made in England
for Ex-Cernan Steamer
Offered at Auction Only
Sz.65 a Deadweight Ton
Shipb,lilding Crisis Seen
Cargo Tllefss Grow Rapidly;
One Line Losing at Rate
of Over "a Million 8 Year

The British market for cargo steam
ers has now completely collapsed, ac-
eording to q report to the Shipping
Board from its European representa-
tives. Quoting TO this effect a lead
ing London broker, who specializes in
the sale and purchase of steamers, the
Shipping Board report states that "no
revival of business is anticipated for
some considerable time"
AS an instance OF the slump in ton
mage values, the auction of the ex-
German steamer Chemnitz at London
is cited. This vessel, which is of $500
tons deadweight, built in 1901, with
speed of 1112 knots, and with ac-
commodation for about fifty first class
and sixteen second class passengers.
was offered fer sale at the Baltic Ex-
change by Keilocks under instructions
from Lord Inchcape, who is managing
the sale of the former German tom
mage for the British government. Bid
ding was started at 10000 and ad-
vanced to SIT GOO; but a reserve price
having been placed on the vessel, she
was withdrawn when no higher bid
could be secured.
The top bid was equivalent to slightly
more than s. a deadweight ton, which,
at current exchange rates is eQuiya-
lent to about ST.65. The Shipping
Board is asking from $3.50 to $lS5 a
ton for its cargo vessels.
Drastic Decline in Values
Another case instanced is that of
the steamer Kepwick Hall, of 5332
h,,iI
in 1915 and fitted to carry fuel Gil.
She was bought in 1918 by the West
Hartlepool Steam Navigation Com
pany for 100000. According to Lloyd's
List, OF London, she has been sold to
the Town Line for 100000, or G140,-
coo less than the selling value over
two years ago, a decline of nearly
90 per cent. "Even allowing for de-
precatlon, it is stated, the decline in
value IS enormous"
One OF the effects Of the collapse
IN tonnage values has been to make
the task g the British government 10
dispose OF the former German shipping
on Its hands very difficult one. The
sale IS still being conducted, but the
progress made IS very slow. Adv!ces
70 the Shipping Board state that up
70 the lrst of this year 36j vessels had
peen placed on the market Tor British
Duyers OF these, only few had been
sold.
Lord Inchcape has made an interest
ing commentary on the DUAL ty of these
eN-Gern.an vessels. Accord nc to him,
"hiIe many OF the more recently built
cargo ships are excellent, in every way,
the passenger steamers, generally
speaking, are poor in design, arrange
ment, comfort, ventilation and deck
space: Inc accommodation provided
for the officers, engineers and crews,
ne says, is considerably below the BRIT
isI standard.
Saipyards Facing Crisis
The ahipbuilding yards of the
United Kingdom are, generally speak
ing, fairly we'll occupied" says the
Sh piping Board report, although. in
many yards the work in hand is un-
doUytedly tnc tail end OF old contracts
placed q cons derable time ago Con-
tracts for new cargo tonnage are now
empty slips in the near future is re-
ceiving the closest attention.
The situation is not improved by
the continued offering of eX-enemy ton
mage, which is decided drag on the
market, and there is also the fact that
with freight rates at their present
level. owners find considerable diff
Guilty in employing their tonnage tc
show even small profit"
There was a slight, decrease in the
prices of certain kinds of shipbuild nc
steel in England during December, and
general drooping tendency is said tc
be noticeable, due in large part tc
American and Continental competi-
ton.
Pilferage Evil Costly
Thefts of cargo from vessels and al
the piers have now reached such pro
portions that the subject of pilferage
is receiving special attention from most
of the British steamship companies
In addition, committee has beer
formed by the london Chamber OF
Commerce to take such acton as may
be poss Bile to improve conditions, anc
the matter has been brought to the at
tention of the Home Office. deputa
tiol of steamship owners has alsl
taken the question up with the police
authorities
How theft has grown is indicated
by figures prepared by British shll
owners, showing that claims for pllter
age, which amounted in 1913 to Ia
pence per ton of cago, in June last hat
risen to 2691 pence per ton, an increase
of nearly 1000 per cent.
One British ship owner states tina,
careful estimates recently made showec
that his company was paying claims tol
pilferage and non delivery at the rate
of about 4250,00 per annum.