WORLD SHIPPING

Hokitika Guardian, 5 December 1932, Page 7

WORLD SHIPPING

MANY VESSELS LAID UP

IMMEDIATE IMPROVEMENT UNLIKELY.

LONDON, October 28. According to the review of Lloyd’s Register of Shipping for the year ended June 30th, the depressed condition of shipping, which- continued during the past year, shows no indication of immediate improvement, and the freight market, on which the prosperity of shipping mainly depends, lias continued on a very low’ level- throughout the year under review, with the result that large numbers of ships have "been unemployed and many vessels kept running have been opera- ' 'ted at «. loss. “Two years ago,” states the review, “the gross tonnage of vessels laid up throughout the world owing to lack of employment was estimated at 5,000,000 tons. Last year the laid up figures had reached 10,500,000 tons, or more than 20 per cent of the world’s available tonnage. On the other hand, however, statistics show that for the first time for some years there has been x a decrease of 400,000 tons this year 'in the .world’s merchant shipping tonnage, which is now slightly less than 70,000,000 grmss tons. “This decrease has occurred' notwithstanding the large amount of new tonnage which has been completed in the last few years-, and is, of course, partly attributable to the fact that during this period the average amount of old tonnage broken up has been approximately 1,000,000 tons annually in addition to an average drop of 400,000 tons a year through casualties.”

NEW TONNAGE. During the twelve months' ended June 33th last 263 vessels, of 920,902 tons gross, were completed 1 and assigned the Society’s classification. These figures show a considerable falling off compared with those of the previous year, when 557 vessels, of 1,758,610 tons gross, were similarly classed. Practically one-half of the new tonnage classed by the committee this year was intended for the carriage of oil in bulk. A similar decrease occurred in the number of plans submitted of new vessels to be classed by the committee of Lloyd’s Register. In the year ended June 30th, 1 1932, plans for, 139 vessels, of 258,110 tons gross, were approved for classification with the Society, compared with plans for 240 vessels, of 561,280 tons, similarly passed last year. The major portion oi this decrease is accounted for by the drop of 225,000 tons in projected tanker tontvye, this year’s figure reaching only 22,960 tons, as ‘ compared with nearly 250,00,0 tons last year. Approximately 60 per cent of this year’s <onteinplated tonnage (i.e., 92vessels, of 153,890 tons) was intended for construction in Great Britain and Ireland), the remaining 40 per cent (47 vessels, .of 104,220 tons) beng for construction abroad.