FORTUNES IN SHIPS

Evening Post, Volume XCIII, Issue 1, 1 January 1917, Page 2

FORTUNES IN SHIPS

PROFITS FROM SALES. REMARKABLE FIGURES. High prices for vessels are still maintained, and show no signs of falling off, says Lloyd's List of 13th October. A new steamer, built in Japan this year at a cost of £60,000, has been sold at a profit 0f.£140,000. New British-built steamers are soiling at £30 to £35 per ton dead weight, as against £10 per ton last yoar, and second-hand steamers have been fetching enormous prices, as much as £19 per ton dead weight having been obtained for a vessel 38 years old. Sailing ships, which a few years ago were worth only a little over breakingup- prices, have been sold at £20 to £28 per ton. The Scottish Glens was recently sold for £47,250, or more than 15 times her value six years ago, when she was sold, for £3000. The Alcides was recently" sold for £66,750, or over 11 times her value in 1912, and £40,000 above her cost 24 years ago. The Syvstjeme, built 25 years ago, at a cost of £12,000, and sold in 1910 for £2300, was recently sojd for £33,250. The Brabloch, recently sold for £56,800, was worth only £425(> five years ago. Some idea of tho fabulous prices paid for ships may b© gained from a glance over the long list of ships -which changed ownership during July, August, and September of this year. The most remarkable figures are those of the- Kumi Maru, a vessel of 6700 tons, and built 14 years ago. Before the -war started she had earned more than 'twice the amount she costs, and in 1913 was sold for £31,500. In 1915 she brought £75,000, and three months ago again changed hands at £235,000. The Saint Nicholas brought £25,000 in 1914, and ithis year ■was transferred to a syndicate for £80,300. Two years ago the Calimeria, of 6180 tons, was worth only £26,150, but in •January last her value had increased to £100,000, and when the present owners took her over last August they paid £185,000. Tlia Dionyssios Strathos brought £35,000 four years'ago, but was recently resold for £185,000. When the Perth, a steamer of 5750 tons, was sold in 1912, the highest bid was £17.000. Two months ago she brought £178,000. Another extraordinary series of deals was made in connection with the Hjeltefjord, of 5400 tons. In July of last year she went for £37,000, in October of" the same year for £54,000, in January, 1916, she_ brought £83,500, and in September again found new owners, who paid £172,----000 for her. The Thomas Krag was sold for £37,000 in 1915, and in September of this year, after she hatl earned a fortune, changed hands at £155,500. One deal with the steamer Meikai Mao-u showed a profit of £140,000. Eleven, years ago the Panakhis Drakatos was worth £18,000 Early in 1915 her price was £28,000, and at the end of that yeax her value had gone up considerably," and in i September of this year she was sold for £110,000. Tn 1913 the Taiyo Maru, of 4000 ton's, was sold for £16,000, and recently changed-her house flag, the deal costing £80,000. The Gustav Vigeland, though only worth £16,500 in 1912, brought £83,500. Between January and August of this year the steamer Norman was sold and re-sold at a profit of £34,----000. The foregoing are only a few of the many instances of the fortunes that have been made in buying and' selling ships since the war started. Every vessel now held can be readily sold at a huge profit.