The New York herald., 1922-08-27
SHIP CHARTERING
is CUT BY STRIKES
Many Vessels Bring Coal and
Have Nothing to Carry
Back.

The disturbing effect OF the coal and
rail strikes upon the ship charter market
was increasingly evident yesterday. Yes
sells bringing coal from Europe were ac-
cumulating at Atlantic ports. especially
New York and Boston, and there was
virtually no offering of outward cargoes.
What demand there was for tonnage for
grain shipments called for loading at
Gulf ports or Montreal.
In the face of the superhuity OF ships
and the scarcity OF orders, owners
showed remarkable lack of response
tiveness to bids for their vessels. The
difficulty of securing adequate bunker
supplies on this side and the high prices
ruling We're said to be causing owners
to reject employment that would other
wise have been acceptable. 1t was the
consensus that more interest would have
to be taken In Gulf or Montreal orders
or the alternative would have to be
faced or long voyages In ballast or lay
ing up on this side.
Charter rates show weakening ten
dency. especially on fixtures calling for
September loading. when the already ex-
cessive quantity of tonnage will have
been greatly augmented. Gulf and Mon
fairly steady for voyages to the Conti-
nent with grain at about Is cents hun
dred pounds and 16 cents. respectively.
For September. however, Montreal to the
Continent. the rate is but IL cents
There Is virtually 10 business from At
lantic ports to the Continent. The in
dicated rate is about II cents and may
go lower This compares with recently
prevailing quotation OK l3la cents, and
indicates clearly the competition Of line
vessels desirous of obtaining deadweight
cargo ut any tate and the lack of any
considerable export movement.
Coal business continues gratifying. 1t
is evident the bitter struggle in the rail
strike and the deadlock in the anthracite
situation has encouraged importers to
look for continuation of the need for
British COAL and ships are being char
tered as far ahead as early october
loading. A FLIP has also been given coal
by slight decrease in prices on the
other side and reduction in charter
rates. now virtually uniform at 10 shill-
ings ton. as compared with the aver
age OF about IL shillings, at which the
bulk Of the early fixtures were made.
With the fixing of a few charters for
sugar voyages from Cuba to Marseilles
and the United Kingdom this market
seems TO nave Deen cioSeu LOT tne tlile,
though additional orders are expected
in the near future Similarly. there Is
no demand for tonnage from Cuba to
Atlantic ports: it appears the refneries
have not yet purchased their September
requirements and fresh business will de-
velop when they again go into the
market.
Berth business showed little change
during the week. and is mostly very poor
in all routes, with the exception of the
coast-to-coast trade through the Panama
Canal. which is winning great deal of
cargo that formerly went by rail. This
Is mainly due, however, to the ruinously
low rates brought on by the rate war.
The conference situation showed little
Improvement. Brazil lines got together
and lightened up their tariffs and the
Levant conference showed signs of re-
newed vigor.