The Hokitika Guardian FRIDAY, DEC. 29th, 1922. WORLD’S MERCANTILE, MARINE.

Hokitika Guardian, 29 December 1922, Page 2

The Hokitika Guardian FRIDAY, DEC. 29th, 1922. WORLD’S MERCANTILE, MARINE.

I Tub annual report of Lloyd's Register of Shipping for 1921-22 makes interesting reading, although stagnation of international trade and its effect in the decline in shipbuilding rather detracts from what would otherwse have afforded much satisfaction to all interests associated with the merchant marine. Figures given show that the total tonnage of merchant vessels afloat at the end of June last, holding the classification of Lloyd’s Register, exceeded 27000,000 tons and was the highest figure ever recorded. To this total* should bo added 296 vessels of 1,524,013 tons, which appear in the Register Book with the notation “class contemplated,” and which bring the aggregate of shipping under Lloyd’s Register classification to 10,325 vessels of more than 28,750,000 tons gross. Of the total first mentioned, 5,878 vessels, with a. tonnage of 13,506,567 tons belong to other countries. Tt is pointed out that the tonnage now afloat exceeds the pre-war mercantile tonnago by some fifteen mil lion tons—a fact that may occasion a little surprise to those not intimately acquainted with the shipbuilding activities which took place some few 1 yoars hack. This excess of tonnage, Imwcver. doubtless includes pinny

sels which on account of age or other reasons a,re not likely to bo aible, even when trade revives, to enter successfully into competition for freights; and it is perhaps not possible to determine whether, given a restoration of normal conditions; the tonnage now afloat would he found to exceed the demand. The number of blnns for new vessels passed by tile society during the year inevitably reflects the prevailing conditions. The figures comprise only 138 vessels of 230,920 tons, and are the lowest recorded for more than thirty five years. Included among the vessels built during the year which have received the society’s classification are thirty-two exceeding 10,000 tons each, as compared with only ten falling within this category during the previous twelve months. Steam turbines were installed in ninety-eight vessels of 870,037 tons, included among which were a large number of ships of over 10,000 tons each, and all those of over 15,000 tons, classed by the society during tlie post year. Vessels of all types of construction intended for bulk , oil carrying and built to class in the last twelve months amounted to 11-1 of 002,399 tons gross and the progres- !

sive demand for oil-carrying vessels is shown by the fact- that the registered tonnage of ships of this class lias increased from 1. 478,988 tons to 5.062,690 tons during the past eight years. Vessels to the number of 209. representing 1.395,929 gross tons—or 55 per cent of the total tonnage of new vessels classed during the year under review—were fitted for burning oil fuel. Whereas in July, 1914, vessels fitted for burning oil fuel bad a gross tonnage of 1,310,209, the figures for July 1922, were 14,464,162 tons. Among the large passenger vessels converted during the year were the Aquitania, the Berengaria, and Mauretania. Other interesting figures show t' o progress that has been made in the use of nioto vessels, which in July last numbered 1.620, with a tonnage of 1,542.160. as compared with 297, with a tonnage of 234.287 in July 1914. Of the motor vessels in existence in July last, no fewer than 341 were of 1,000 tons and upwards, while sixty six were above 6,000 tons. As to the prospects of a revival of the shipbuilding industry, the report states that it will take much more than is at present on the horizon to enable builders to have any confident expectation of refilling berths left vacant by the completion of tonnage now in hand. With the world outlook ns it is. it would seem that the only consideration which would

dispose shipowners to make themselves responsible for outlay on new tonnage, except as regards passenger liners and vessels intended for special trades, would be the knowledge that there will he a sharp demand for the most up-to-date types as soon as the upward move- ( nient of freights begins. !