REQUISITIONING OF SHIPS

Press, Volume XCIV, Issue 28051, 20 August 1956, Page 14

REQUISITIONING OF SHIPS

Effects Of Suez Canal Traffic (N.Z. Press Association - Copyright t LONDON, August 17. British export trade is not expected to be affected by the block requisitioning of tramp ships occasioned by the Suez crisis. So far, vessels going out with export cargoes have not been .but the withdrawals have brought charterers and owners on the Baltic exchange to a position of stalemate. Charter business is therefore virtually at a standstill. Only early positions are affected by the requisitioning, but in the present uncertainty British vessels are not looked at, and foreigners are sitting back in expectation of still higher rates. An increase of 15s to 120 s a ton was recorded last night for a shipment ot grain from the Gulf of Mexico to the United Kingdom. So far. effects on the Atlantic coal trade have been small, with owners and charterers awaiting developments. One or two vessels on time charter to the United Kingdom Coal Board have been requisitioned, but the board appears to be in no hurry to replace them, '

British coal stocks are reported to be in a better state than at this time last year.