CHAPTER XXVI

SHIPS AND CHARTERS—Continued

Freight Reports. The following are a few specimens of freight market reports in which several phrases in reference to chartering are introduced. These phrases will be readily understood by reference to the list of abbreviations, &c., appended hereto.

TRANSPORT AND FREIGHTS.

UNITED KINGDOM.

Last month, with weak grain markets, there was a general collapse in homeward chartering. Tonnage has been rushed out across the Atlantic and through the Mediterranean, with an utter disregard of such a question as that of return employment, the result being that many owners of prompt vessels have been practically forced to accept the low rates offering homewards. However, within a few weeks the freight market should take an upward turn, as, for instance, there will be the new grain for shipment from the States, while the cotton season is also rapidly approaching.

Appended is our usual short list of fixtures:-Cardiff to Havre, 4s. 1d.; Charente, 6f.; Piræus, 9s.; Marseilles, 10f. to 123f.; Genoa, 7s. 7 d. to 10s. 3d.; Alexandria, 9s. to 9s. 9d.; Trincomalee, 17s.; Colombo, 12s. 6d. to 13s.; Rio, 17s. to 18s.; and River Plate, 17s. 9d. to 18s. 9d. Glasgow to Marseilles, 9s.; Naples, 9s. 9d. to 12s.; Port Said, 9s. 6d. to 10s. 6d.; Alexandria, 10s. to 11s.; Genoa, 8s. 44d. to 11s. 11d.; Cronstadt, 5s. 1d. to 5s. 44d.; Rio, 17s.; and Buenos Ayres, 18s. 6d. Liverpool to Chittagong, 10s. 9d. to 11s. 9d. sail; Calcutta, 11s. 9d. sail; Melbourne, 16s. 6d., option Adelaide, 17s. 6d., sail; Colon, 15s.; and Buenos Ayres, 18s. London to Cape Town, 16s. 3d. sail; Melbourne, 25s. sail; Mauritius, £950 (the barque Craignair); and Kinilind, 22s. 6d. Newcastle to London, 3s. 14d. to 3s. 6d.; Havre, 4s. to 4s. 1d.; Lisbon, 5s. 6d. to 6s. 9d. coal, 8s. 9d. coke; Barcelona, 10s. 3d. to 11s. coal, 12s. 9d. goods; Venice, 9s. 3d. to 11s. 9d. coal, 11s. 3d. coke; Savona, 9s. 6d. to 10s. 9d. coal, 11s. 3d. pig iron; Genoa, 7s. 6d. to 10s. 6d. coal, 9s. 6d. to 11s. coke; Civita Vecchia, 9s. 6d. to 11s. 3d.; Algiers, 8s. to 9s. 6d.; Gibraltar, 6s. 103d. to 8s. 6d.; Port Said, 8s. 6d. to 10s. 6d.; Cronstadt, 4s. to 5s. coal, 6s. 6d. to 6s. 9d. coke; Stettin, 4s. 10d. to 5s. 3d.; Swinemunde, 3s. 10d. to 4s. 9d.; Stockholm, 4s. 1 d. to 4s. 6d.; Hamburg, 4s. to 4s. 3d.; Cape Verdes, 9s. to 13s.; Cape Town, 19s.; Hong Kong, 25s.; and Rio, 16s. 6d. sail.

COLONIES.

Australasia. On this market, Messrs. Weddel, Turner & Co. report :-"(New South Wales.)-Sydney.-For the London berth a spot ship secured 40s., while a backward one accepted 35s.; rates have since improved to 41s. 9d., with option of Boston, U.S. A., at 43s. 9d. Newcastle.-'Frisco firm at 20s. up to December loading. West Coast eased off a little, but is now steady at 17s. 6d. to 17s. 9d. Pisagua range, 16s. 3d. Coquimbo, option, Iquique, 15s. 3d. Panama done at 20s., Acapulco 20s. Steamers fixed 17s. to 18s. Java, 23s. Macassar, 17s. Singapore. (New Zealand.)—A vessel of 1,400 register has been fixed from Calcutta to two ports and home to London at 50s. on d.w. A backward ship gets 27s. 6d. Auckland to London. (Queensland.)— Brisbane has taken a small ship for the London berth for SeptemberOctober loading at 42s. 6d. on regs. (South Australia.)-A large vessel accepted 31s. 3d. for ore, Port Pirie to U.K.C., while a small ship secured wheat to South Africa at 26s. 3d. (Victoria.)—A spot ship has been fixed for wheat to Callao at 22s. 6d., with option of Europe at 30s., while 26s. has been paid for a small vessel to South Africa. London berth neglected."

Canada.-Deal ships have been in great demand, but, in consequence of excessive offerings of tonnage, rates have ruled in charterers' favour. Among business done may be mentioned :-St. John to W.C.U.K., 42s. 6d. to 52s. 6d.; Miramichi to Belfast, 48s.; Montreal to London, 40s. to 45s.; Quebec to Liverpool or Greenock, 75s. timber, 47s. Gd. deals, W.C.E., 70s. timber, 45s. deals; Campbeltown to W.C.E. or E.C.I., 46s. 3d. to 57s. 3d.; Cape Tormentine to U.K.C., 52s. 6d.; Pugwash to W. C. E., 52s. 6d.; and Sheet Harbour to Grimsby, 51s. 3d.

INDIA.

Eastern business has been very quiet after the spurt of the previous month. Scarcely anything has been done at Bombay, where quotations for p.p. sunk to as low as 18s. for June-July loading. In one case a vessel originally fixed at 30s. was re-let at 19s. Burma has taken steam tonnage at 30s. and 32s., o.c., while Rangoon to Mauritius has been done at 20a. Calcutta steam quotations to London have been chiefly nominal, and ranged between 25s. and 32s. 6d. for wheat, 27s. 6d. and 32s. 6d. linseed, 30s. and 37s. 6d. rape, and 27s. 6d. and 35s. for jute. New Zealand and home to U.K.C. was done at 47s. 6d. to 50s. ; Hamburg, 30s.; Singapore, 6r. to 7r.; Colombo, 6r.; Madras, 51r. to 5r.; Bombay, 64r.; and Red Sea, 22a. From Karachi a little business has been effected at from 22s. to 26s. 3d. June, 19s. 6d. July.

FOREIGN COUNTRIES.

American Market.-Grain business has collapsed, berth rates from the Northern range to p.p. U.K.C. being quoted at 2s. 6d. to 3s. 3d.; on C.f.o. 2s. 10 d. to 3s. 6d.; and at the Gulf 13s. to 17s. 6d.

A fairly large amount of tonnage has been taken from the timber ports, Pensacola to U.K. making 102s. 6d. to 127s. 6d., Cont., 115s. to 130s.; Alexandria, 127s. 6d.; Pensacola or Mobile to U.K.C., 135s., Baltic, 140s.; Mobile to U.K.C., 122s. 6d. to 125s.; Pascagoula to Dordrecht, 130s.; Apalachicola to U.K., 120s., and Ship Island to Bordeaux, 45s. Phosphate charterers, too, have seized the opportunity of the abundance of tonnage to secure cheap room, from Fernandina to Stockholm at 20s.; Coosaw to Cork or Dublin, 17s.; Tampa to Antwerp, 17s. 6d. July-Aug.; 21s. 6d. June-July; and Port Royal to Londonderry, 15s. 6d. Case-oil has taken several boats from New York at 16c. to Calcutta, 23c. Hong Kong, and 25c. Shanghai. San Francisco and Tacoma have been dull and nominal. Portland (Or.) has booked forward tonnage at from 30s. to 37s. 6d. At the W.C.S.A. there has been a firm market, prices ruling at from 27s. to 31s. 6d., according to size and position; for guano a prompt ship secured 35s.

Baltic, &c.-Business is greatly restricted. Hernosand to Grimsby made 25s., West Hartlepool, 27s.; Haparanda and Lulea to Hull, 28s. 9d.; Pitea to Hull, 27s. 6d.; Archangel to London, 40s. d.b.; Soderhamn to Grimsby, 24s. 6d. ; Norway to Adelaide, 57s. 6d., flooring boards; Riga to Tyne, 23s., d. and b., 24s. boards; Neder Kalix to London, 30s.; Sundswall to Hull, 26s.; East London, 75s.

Black Sea, &c.-This market has become quite demoralised, and latterly scarcely any business has been done. Berth rates from Odessa, Sulina, &c., ruled at 7s. to 11s., and on charter 7s. 6d to 11s. At the Azoff, too, chartering has been small at 9s. to 10s. 9d. berth, 9s. to 12s. 6d. charter; while the Danube has, perhaps, been even quieter at 8s. 6d. to 9s. 6d., charter 9s. 6d. to 10s. 6d.

Mediterranean, &c. There is a brighter aspect in the Mediterranean market, and rates seem likely to improve. Fixtures included :--Elba to Rotterdam or Amsterdam, 7s. 9d. to 7s. 10žd.; Carthagena to Maryport, 9s. 14d. to 9s. 6d.; Alexandria to Hull, 7s. 3d. to 8s. c.s., ls. 6d. to ls. 74d. grain; Ergasteria to Rotterdam, 6s. 10d. to 7s. 44d.; Maryport, 8s. 3d.; Aguilas to Middlesbro', 8s. 6d. to 8s. 7d.; Benisaf to Rotterdam or Amsterdam, 7s. 3d.; Bona to Glasgow, 6s. 44d.; Stratoni to Philadelphia, 9s. 6d, Rates at the Spanish ore ports were poor but steady, Bilbao to Middlesbro' making 5s. 10 d. to 6s.; Dunkirk, 5s. 9d. to 6s.; Rotterdam, 5s. 10 d. to 6s. 1d.; Glasgow, 6s.; and Huelva to Rotterdam or Amsterdam, 8s. 9d.; Charleston, 11s.

River Plate, &c.-Continued bad weather in the Argentine, together with the fall of prices in the English grain markets, practically put a stop to business, although one or two up-river fixtures were recorded at 12s. to 15s. o.c., and from Buenos Ayres at 10s. For quebracho wood from Colastine to U.K.C. 18s. was paid.-Imperial Institute Journal.

Terms and Abbreviations used in reference to Freights and Charters.

re-let

First open water (Baltic trade).

For orders.

A vessel of convenient size.

One of a line of steamers running regularly to and

from a port.

Open charter.

Charterer to have option.

Port of Call.

Particular port (i.e., port named).

Shortly ready to load.

Registered tonnage.

Freight or charter transferred to another party.

Ship on the berth Ship ready to load and booking cargo.

CHAPTER XXVII

TELEGRAPHING TO PLACES ABROAD

Just as the introduction of steam power revolutionised the method of transporting goods from one place to another, so the introduction of telegraphy has revolutionised the method of transacting business between places distant from each other. Prior to the invention of the electric telegraph, all orders and execution of orders, market intelligence, and other commercial matters, were necessarily transmitted by letter; now, wherever a telegraph wire or cable extends, the telegraph is the means of conveying such intelligence.

The method of telegraphing from one place to another in the United Kingdom has been already dealt with, and as we are now chiefly concerned with telegraphing to places abroad, we need not further refer to inland telegrams beyond remarking that telegraphic communication was first established throughout the United Kingdom in the year 1846.

The great success of the inland telegraphs led to efforts being made to establish telegraphic communication with foreign countries, by means of wires laid under the ocean. The first submarine telegraph was laid from Dover to Calais in 1850, but it worked for one day only. Later efforts, however, were successful, and on the 13th November, 1851, telegraphic communication was established between Paris and London.

Afterwards wires, or, as we now call them, cables, were laid between England and other points on the Continental coast, until eventually telegraphic communication was opened up with all parts of the Continent.

In 1858 a cable was laid between Valentia (Ireland) and Newfoundland, with a view to establishing telegraphic communication with the United States, but this broke down after a month's working, and it was not until 1866 that the two countries were connected by telegraph.