WAR'S EFFECT ON SHIPPING.

Dominion, Volume 10, Issue 3052, 13 April 1917, Page 8

WAR'S EFFECT ON SHIPPING.

THE SUBMARINE MENACE 'AND ITS MEANING. An extremely interesting calculation concerning the effect of war on. our shipping trad© is made by Sir Norman Hill in the current number of "Fairplay." "Compared with the 3600 steamships of 16 million, tons gross with which we started the war, the loss," he says, "in the 27 months represents 12 per cent, on the numbers, or 11 por-,'cent. on the tonnage, being under of one per cent, per month. The rate of loss has fluctuated from''month to month, the highest monthly rate being 94, and the lowest •OS- . "It is not possible to state with tho same precision the cargo losses, but wherever possible I have obtained month by month particulars of the cargoes destroyed, and estimates of their value. ■ My estimates are complete up to the end of September, 1916, and the information ■ I have so obtained covers 314 out of the 435 vessels of 1600 tons gross register lost up to the end of October, 1916. Of these 314 vessels, 09 were in ballast. The total value of the destroyed cargoes on these _ 314 vessels is estimated at £17,805,000, which gives an average of £69,000 on the 255 vessels carrying cargo, or of £56,000 on the 314 vessels with cargo and in ballast. As a percentage on this figure the losses of; £17,805,000 represent .49 per cent. "The cargo rate .of losses shows wider fluctuations tlian the hull rates; the highest monthly rate lias been 1.64 per cent., and the lowest .02 per cent., and the detailed figures do not show a steady, progressive tendency, either up or down. "My warrant for calculating the percentages of loss throughout the twenty-. seven months on the 3600 ocean-going vessels in existence when war was declared is the fact that in great measure our losses have been replaced by new vessels. The association which I represent covered on the outbreak of the war 1137 vessels, representing 6,500,000 tons gross; to-day it covers 1080 ves sels, representing 6,280,0011 tons gross. This tonnage, by reason of the trades in which it is employed, and of its average speed, carries probably nearer one-half than one-third of the total trade of tho world which is earned in British ships. "A 10s. in the £100 blockade will never starve ns. The shortage of oceancarrying power from which we are suffering docs not arise from the enemy's success in destroying our ships. It arises from the use, or the want of use, to which we are putting our ships."