New-York tribune., 1922-10-02
Charter Market for
Vessels Better as
Coal Ships Dwindle
OwnersMorc Optimistic, but
Shippers Hold or Lower
Rates; Montreal Season
Near Close; Insurance Up

A firmer tone is evident in the shin
charter market, due to the dwindling
numbers of coal vessels and to the fact
that the Montreal season is drawing
! near it's close. Insurance rates on the
st. Lawrence go up to-day. Shippers
! still! are holding for lower rates. but
! the trend of conditions seem, tempo
rarily at least, to be in the other
direction. The weekly review Of the
freight situation by Funch, Edge g. Co.
gives the following analysis:
"Grain--There was some improvement
in the volume of tonnage. Grain
freights displayed a slightly better
tone, and the tendency of rates is to
stilfen for the later positions, for
which owners generally do not appear
to be disposed to negotiate at the mo-
ment. Shippers, on the other hand, do
not seem TO have many orders and are
still holding off, largely in the hope of
seeing the rates decline again. The
trend Of the market, however, does not
seem to justify this anticipation.
"The coal freights from the United
Kingdom to this side, which were re-
sponsible for the heavy influx of ton
mage for September and October load
ing, appear to be practically finished,
which should check the overstocking of
the outward market here with tonnage,
as owners will probably prefer to keep
the tonnage on the other side until
definitely closed for outward freight
from this side rather than make the
stormy westward passage in ballast for
charter at anything like present
rates. The expected resumption Of
chartering in the West Indies trade
| against next years sugar season will
again absorb considerable tonnage of
the handler size. In addition to these
| considerations owners will have to hold
for more money from the st. Lawrence
because of the additional insurance
premium required there for out of
season loading.
No improvement has developed in
the situation from American Atlantic
ports, and even last half October load
ing is considered risky, as the pros
poets of securing deliveries Of grain
at seaboard are not at all promising
MOST OF the railways serving northern
range ports are reported to be ex-
periencing considerable difficulty in
moving grain, owing to insufficient car
equipment, so that at the moment there
Is no demand whatever for tonnage to
move grain in October from United
States Atlantic ports. Some orders for
November loading are in evidence, on
which merchants are indicating 16kc.
to TIC to west Italy and 12c to the
Continent. The only October demand
Is for Montreal, from which port sew
eral cargoes are offering at TIC; Ant
werp- Hamburg range and one or two
fDl |, H.
basis is indicated, with 1ac. extra for
each additional port up to three. There
is limited inquiry also for Montreal
to Denmark and Sweden at about 18c
to four ports Sweden not above Stock
holm, and about tic, to four Danish
ports. December cargocs are also Of
tering, and one fixture is reported
from the range to Mediterranean not
east of west Italy at 18c. with the op-
tlon Of Adriatic at 1oc. There is no
present demand for Greece, but in view
OF the political situation there some
shippers are of the opinion that addi-
tional requirements fer grain and flour
will shortly come into the market.
"Coal.--Shippers are again showing
interest in tonnage to the West Indies
and to South America, but orders have
not developed yet to any considerable
extent.
Sugar.-There have been no develop
ments of interest this week. One in
quiry is being circulated for steamer
of 5000 to 6,0o0 tons from one north
or south side Cuban port to the United
Kingdom, of which merchants ideas
are about IT'S for early October load
ing.
mber-There is limited demand
for November loading from the Gulf
to the Plate at about 170s. standard
on Pixpinus charter
"Time charter.-West Indies opera
tors are showing considerable interest
in tonnage again and apparently are
prepared to take out a number of
steamers of handy size, say not exceed
ing 1000 to $500 tons, for which they
are prepared to entertain periods of
six to nine months. A number of fix
lures were made for such business this
week; there is also limited demand
for American steamers in the inter-
coastal trade at S1.5O to $16O for
steamers of 5000 to 5000 tons dead
weight. There is no real time demand,
however, in the transatlantic for
South Amorioop tro1o -