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British Shipping Busy (Continued from Page 25) ers for £40,000 ($194,000). The steamer CARDIFF of 6000 tons dead- weight, built in 1898, was sold to Italian buyers for about £10,000 ($48,500); in 1920 this vessel changed hands for £90,000 ($436,500) after having been practically rebuilt. In December, 1921, she realized about £15,000 ($72,750), early in 1924 she changed hands for about £11,000 ($53,350), and in February, 1926, again for £7250 ($35,000). A motorship of 9485 tons dead- weight, built in 1925, was sold by the Hall Line, Ltd., of Liverpool to owners of Newcastle-on-Tyne. The London owned steamer CITY OF CANDIA, of about 6700 tons carrying capacity and built in 19038, was acquired by the Otter Trading & Steamship Co., Ltd., Cardiff, for £17,000 ($82,450); the same vessel changed hands for £12,- 500 ($60,625) at the beginning of this year. British shipowners have pur- chased two Hungarian steamers, one of 6770 tons built in 1912, the other of 4760 tons built in 1906, for a total price of £34,000 ($164,900), and on the understanding that the vessels will not be used for trading with the United States. In June, a Norwegian ship of 8200 tons carrying capacity, built in 1920, was acquired by a Liver- pool firm for £46,000 ($223,100). An ex-German steamer of 8115 tons, which had been damaged by fire, was bought by Italian shipbreakers for £8500 ($41,225). Freight Market More Active The activities of the freight mar- ket have substantially increased dur- ing the past three months. Rates have fluctuated but were higher than at this time last year; the improve- ment is seen on the accompanying chart of index numbers compiled from The Statist, London. Figures pre- pared by the chamber of shipping show an important reduction in the tonnage of British and foreign ves- sels laid up idle. The decrease on April 1, as compared with Jan. 1, amounts. to 125,193 tons net, or 34.3 per cent, the actual figures being 364,874 on Jan. 1 and 239,681 on April 1. Present indications are to- ward the maintenance of this im- provement. Early in the spring there was a burst of activity in the Argentine chartering market, notwithstanding the Easter holidays. The Mississippi floods are said to have influenced the stimulating of grain business with the River Plate. Australian chartering and Montreal rates also revived. Sharp 54 rate reductions were effected on cer- {ain commodities going to South Africa. For example, the freight on fencing was reduced in April from 27s 6d ($6.65) to 15s ($3.64) per 20 hundredweight. In May a further reduction was made to 5s ($1.20), which leaves very little margin when one takes into account loading and discharging expenses, and port charges. At the beginning of June there was a revival in the demand from eastern markets, particularly India, but a decline of trade with the North American market. The Near East was dull. The homeward River Plate market remained strong. Some Rates Unsatisfactory At the end of the month conditions became patchy. There was more ac- tivity in outward coal to South America, but homeward rates from the River Plate collapsed. However, there still is a large surplus of grain afloat. Montreal rates at present are unsatisfactory and Cuban sugar re- mains quiet. Eastern trade has de- clined, while Australia again is show- ing more interest. There is an ample supply of tonnage offering in outward coal but owners are reserved owing to the poor homeward conditions from the River Plate. Ore chartering from the Mediterranean is fairly active. The Baltic and the White Sea markets have revived. The following are char- acteristic rates quoted at the end of the month: River Plate to United Kingdom 22s ($5.85), Cuban sugar 19s ($4.60), outward coal from Wales to Buenos Aires 13s 6d ($3.25), Mon- treal grain to Mediterranean 10c, ore from Benisaf to Philadelphia 8s 6d ($2.05). The Board of Trade figures giving the movements of vessels at British ports show more activity now than a year ago. In May, 1927, 5667 vessels of 5,330,073 tons entered British ports with cargoes, and 5169 vessels of 5,- 516,134 tons cleared with cargoes to foreign destinations. During the first five months of the year a total of 24,- 045 vessels, trading foreign, aggre- gating 23,999,951 tons, entered Brit- ish ports with cargoes. This com- pares with 21,301 vessels and 21,233,- 667 tons in the corresponding period of 1926. Of this year’s tonnage, 22.3 per cent came from the Atlantic coast of North America, as against 21.5 per cent in the corresponding period of last year. The total clear- ances from British ports'in the period ending May 31, 1927, were 24,661 vessels of 25,647,472 tons, as com- pared with 21,400 vessels of 22,768,142 tons in the first five months of .1926. Of these clearances, 15.4 per cent went MARINE REVIEW—August, 1927 to the Atlantic coast of North Amer- ica this year, as compared with 17.6 per cent last year. The Great Western railway is lay- ing plans to improve dock facilities in South Wales. The principal South “Wales docks came into possession of the railroad in 1921 and it is claimed that the company owns the world’s largest dock system. At present a scheme costing over £2,000,000 ($9,- 700,000) is in hand at the ports of Cardiff, Swansea, Newport, Barry, Port Talbot and Penarth for the adaptation or reconstruction of coal shipping appliances for dealing with the new type of 20-ton trucks re- cently introduced. At the port of London, the Thames Ironworks, Silver- town, which has been closed down for several years, has been leased by Samuel Instone, Ltd., colliery pro- prietors and exporters. The site will be equipped with up-to-date wharves, warehouses and sheds, and will be linked by railroad connections with all parts of the country. Recent statistics presented to the Port of London Authority show that the ton- nage of vessels arriving in or depart- ing from the port of London with cargoes is on the increase; the ton- nage for the year ending March 31 was 32,626,229 tons, an increase of 933,352 tons on the preceding year. Exports of British coal for the five months ended May 31 exceeded last year’s figures, although they did not quite reach those of 1925. For the first five months of this year exports amounted to 22,005,967 tons, as against 18,929,604 tons in 1926 and 22,114,598 tons in 1925. Coal shipped for the use of steamers engaged in foreign trade during the same period was 6,707,525 tons this year, 5,842,717 tons in 1926 and 6,968,212 tons in 1925. Last year in May the effects of the coal stoppage were beginning to make themselves felt. The total value of exports of British goods, exclusive of bullion and specie, for the first five months of this year was £341,963,359 ($1,655.000,000), as com- pared with £343,952,854 ($1,670,000,- 000) in the corresponding period of last year. As compared with last year, there was a considerable drop in exports of cotton yarns and manu- factures; oil seeds, fats, ete. and vehicles also decreased. There was an increase in exports of coal, wool and woolens. The value of imports for the first five months of this year was £518,037,620 ($2,500,000,000), as against £505,135,426 ($2,450,000,000) in the corresponding period of last year. The principal increase was for iron and steel.