The New York herald., 1922-10-23
ATLANTIC SHIPMENT
OF GRAIN INCREASES
Berth Rates to Europe Begin
to Indicate Greater Busi-
ness Volume.

Last week saw a moderate improve
to Europe. especially to ports in the
United Kingdom. This was to con-
siderable extent attributed to better ar
rivals of grain, from inland at North
Atlantic ports, but the line ships were
able to take care Of all the increase
without difficulty, so the full cargo mar
k,t was affected little. About the same
volume Of charterng was done as in the
previous week, and rates held firm at
the prevailing levels.
Increasing congestion at Montreal, to-
gerher with the approach of the closed
season for navigation on the st. Law
renee. have begun to divert grain to
North Atlantic ports, though the i'm
provement in the domestic rail situation
has not been great enough to eliminate
this deterrent factor. The better pros
poet for the near future is reflected in
berth grain rates to the Continent. Ham
burg grain Is moving at about cents a
hundred pounds in the line vessels in
the trade. whereas future commitments
are calling for rate two cents higher.
Substantial increase in the movement
of freight from coast to coast of the
United States through the Panama Canal
also was noted, and all the ships in thar
trade, totaling about 500, 900 des.dweight
tons, regularly are sailing full. Addi-
tional tonnage is being added from time
to time, mainly through time charters.
but this does not always indicate in
creased traffic, as there is much con-
gestion of freight at Pacific coast ports,
which delays sailings and calls for more
ships to maintain schedules. Panama
Canal records for September show that
for the third consecutive month the
freight movement exceeded 100000
tons, which is about so per cent. better
than the figures for the corresponding
period last year.
The steadiness of the grain charter
market. in the face of temporarily adj
verse conditions, has been a source Of
qualification. Latest advices are that
eighty to ninety steamers are at Mon
treal or due there shortly to load grain.
whereas, as previously indicated. arrivals
at United States Atlantic ports are as
Yet by no means satisfactory. The reluc-
tance of shippers to enter into fresh COM
mitments, therefore, is not surprising.
and it was to be expected that their
offers would be below the prevailing
levels. Shipowners, however have
countered by Withholding tonnage where
it was necessary to stabilize the market
For Montreal-west Italy-yoyages.> for
instance, shippers have been freely Of
fering 20 cents a hundred pounds, but
the owners have declined consistently to
do business at this rate, which is cents
under the recent levels. From the At
lantic range to the Mediterranean bid
and asked prices are 1874 cents and
171a cents to 1S cents. To the Bor
Hamburg range from Montreal
shippers are quoting 8 cents, and from
north Atlantic ports 10h cents to IL
cents all these offers being about cent
lower than the figure at which business
could be closed readily.
The nominal charter rate from the
Gulf to west Italy is about 20 cents and
to the Continent about IA cents, but
there is no special inquiry for tonnage
Berth room, in fact, was offered unsuc-
cessfully at IS cents to west Italy. No
vember loading.
Other than in grain the charter mar
ket is showing appreciable activity only
on the time form. Operators in the
West Indian trades are chartering a fair
number OF small and medium sized ships
for round voyages or for six months
period, presumably to move sugar
cargoes: rates are fairly steady, but
vary widely according to the desirability
OF the ship for the special need of the
charterer.