SHIPS FOR SCRAP

Hokitika Guardian, 11 March 1938, Page 7

SHIPS FOR SCRAP

SCARCITY OF TONNAGE.',' HIGH FREIGHT RATES RULE. ’ • .V -Vv. J 1 ' -' • • . > : • LONDON,-March 5. Leas than 400,000 tons gross of world shipping, excluding American, w*3 sold for demolition purposes duriiig. 1937, which is the lowest level touched for many years.: The high freight rates ruliiig throughout theyear \ inade it evident almost from the* beginning that there would be a heavy fall in the amount of tonnage which owners were prepared to sell for; scrapping, and even the decline in freights which took place in the last few months did not have the slightest effect’on owners’ views. According to Lloyd’s List records* the aggregate tonnage sold last year was 398,912 tons gross, the vessels numbering 338. This compares with 425 snips, of 932,726 tons gross, sold in 1936. Of the total tonnage for last year, 194 vessels, aggregating 36,787 tons gross, were of under 300 tons gross, this total including 144 trawlers, of 27,543 tons. This continued scarcity of tonnage has caused shipbreaking firms in Britain to look abroad for vessels, and ; they were successful during the last quarter in tendering for 10 of the shipsof the former United States Shipping Board’s fleet. These totalled 59,496 tons gross, and, in addition, they also purchased the American liner. Leviathan, of 48,943 tons gross, thus bringing the total purchases from America to tons gross. Of foreign tonnage sold, France disposed of 10 vessels, 0f1,6,606 tons, Greece of five, totalling .3287 tons;: Holland, three, of 1427 tons; Spain, two, of 2941 tons; and Italy, one, of 578 tons. Only one vessel of outstanding importance, excluding the Leviathan, changed hands during the quarter, this being the Fyeneh passenger and cargo liner Lutetia of 14,783 toils gross, which realised about £45,000 from a British firm. ,