New-York tribune., 1922-08-26
w orld Shipping,
Now wOnAdvallee
SaysU.S. Expert
Commerce Department Re-
view Shows Less Idle Tom
mage at End of Half Year
Than al Beginning of ~
Fleets IL p. G. Tied Up
Charter Rates Suffer Great
Decline Since War; Prices
of Ships Gaining Slightly

of Ships Gaining Slightly
World shipping at the end of the
first half of 1922 showed distinct gains
in many respects over conditions pre-
vailing at the beginning of the year,
according to a review of the situation
by E. s. Gregg, chief of the Transpor-
tation Division of the Department of
Commerce Improvement was noted
in the volume of tonnage employed, in
the prices of ships and in the move
ment of foreign trade. Ship charter
rates and shipbuilding continued to
decline. Ocean transportation has
been unsatisfactory generally since
early in 1920.
While complete figures are not
available. Mr. Gregg estimated the
idle vessels of the world on July l at
100000 gross tons, or about IL per
cent of the total merchant fleets. This
Is decrease from January l. but the
exact proportion could not be accu-
rately calculated.
Scandinavian shipping showed the
greatest increage in employment Idle
tonnage in Denmark declined from
16I 900 tons on January l to $4,000
tons on July i. Norwegian tonnage
tied up fell from 207 900 to 10000
tons. Swedish declined from 100000
to t14,0o0 tons. The tendency of the
freight market at the end of the half
year, however, was Such that there
was talk Of renewed idleness.
Idle Shipping Declines
The tonnage of ships tied up in
United Kingdom ports dropped from
1861 600 gross tons to 1,667,000 at the
end of June. Idle vessels in Japan
ese ports amounted to 10000 tons on
January / and 10000 tons on June Is.
French vessels aggregating 100000
tons were tied up on July /, as com
pared with 1,085,oo0 tons On March 1.
Tonnage laid up in Rotterdam and
on January Is to 100000 tons on
July 15, and that in Greek ports from
60.S00 on October /, 1921, to 100000
on July 1, 1922. Idle Italian shipping
on July was 5S5,000 tons; no figures
were available for the first of the
year.
Tonnage flying the American flag
showed more employment on July l
than at the beginning of January.
Idle Shipping Board steamers de-
ciined from more than 100000 to
S,977,00o tons during the six months.
Charter rates continued to decline in
TIE asst half of 1922 and are now at
is5 ser cent of the average for 1911
structed index number.
INDEX NUMBER OF OCEAN CHARTER
Year Per cent
lsll-'lS average. .................... 100
1919. Observation-Disclosures. ......,......... 384
-. IL. .
1929 (irst half) ................... 121
Shortage of cargo has resulted in
liners taking more and more of the
business ordinarily handled by tramps.
1t is unlikely that any improvement
in the ocean rate situation will take
place until the mass of iaid-up tonnage
which hangs over the market has been
absorbed by an increased volume of
international trade.
Volume of Trade Gains
SO far as the United States is con-
cerned there has been a decided in
crease in the volume of overseas ship
ments, the monthly tonnage of both
imports and exports being appreciably
larger at the end of the first half OF
the year than they were at the be-
ginning. Combined exports and i'm
ports, excluding oil and Great Lakes
cargoes, amounted to over 5,400,OOo
long tons in June, 1922, and as com
pared with only 100000 long tons
in June, 1921.
On the basis Of value, taking into
consideration changes in the level Of
wholesale prices, the volume Of British
foreign trade during the first six
months of 1922 was somewhat larger
than for the same period of 1921, as
a TCr la 4.
preceding.
French imports and exports in me-
trio tons, showed an appeciable in.
crease during the half year as com
pared with the corresponding months
last year. German statistics indicate
an increasing volume during 1929.
ShipbuiIding Falls OFF
The shipbuildinx industry. due r.
che great surplus Of existing tonnage
IS undergoing a marked depression
\ Allowing for suspension of work, the
actual volume of construction unde,
way at the beginning of July was be.
low the pre-war level and was more
than 100000 tons under the Januar,
/, 1929, figures. The world total de.
cilned from 5,525,000 to 8,325,oOo gross
tons during this period. exclusive OF
herman construction, estimated at 500.
600 tons.
A better indication of the drop N
shlpbuilding is given in the volume
OF work begun compared with tbe
total launched. During the first quar-.
Ter OF the year more than 500 O0o
toms of vessels were launched, while
less than 10000 tons were com.
meneed. In the second ouarte,
about 100000 tons were launched
against new work of only 10000 tons
inns means that during the first six
months ways capable Of accommodat at t.
ing $4,000 tons of new ships became
vacant
The worlds merchant marine or
July 1, 1922, registered an increase Of
2,S96,l33 tons over the same date last
year. Nearly half of this gain appeared
IN the German feet, which Jumped from
$4,000 tons in 1921 to 1888, 900 tons
IN 1922. Taking steel, steam and motto,
ships as representing sea-going ton.
mage, the advance was still greater
aggregating about 2,644 900 tons.
The total world merchant feet on
June 80, 1929, amounted to Sc SOP oOO
gross tons, compared with 54,l58, ,o00
on June so, 1921, and 42,514, 600 on
June 80, 1914
The sales price of ships stiffened
slightly in the first half of the wear
The average of twelve cargo vessels al
5000 to 10000 deadweight tons. not
over Ave years old. sold during the
last half of 1921 was se Iss Sd a ton,
compared with similar average in the
first half of 1899 of CT los