Page images
PDF
EPUB

Passenger—Bareboat Dead-weight Wessel Built tonnage Annual hire ----------------------------------------------- 1942 7,405 $160,308 -------- 1943 10, 900 1267,024 1941 7,440 1288,576 1923 2,239 1 195,000 1941 9,338 178,830 ------------------------------- 1941 9,053 177,932 -------------------------------- 1906 2,837 1274,800 ---------------------------------- 1932 4, 750 421, 200 ----------------------------------- 1924 3,380 1 181,056 ------------------------------------------ 1943 9,469 1 281, 148 Baranos ------------------------------------------- 1919 3,945 1215, 568 Bienville------------------------------------------ 1943 10,875 1266,328 Cape Cod----------------------------------------- 1941 7, 340 167,688 Cape Neddick--------------------------------------- 1941 7, 340 167,688 Columbia------------------------------------------ 1907 2, 527 1 227,664 Cordova------------------------------------------- 1912 1,620 1 90,240 Penali -------------------------------------------- 1927 3,035 I 145, 368 Exchange------------------------------------------ 1940 7, 114 188, 377 Exchequer----------------------------------------- 1943 9,900 230, 466 Poiria--------------------------------------------- 1942 6,078 174,270 Explorer--------------------------------------------- 1939 7,674 176,960 Extavia---------------------------------------------- 1941 6,350 164,850 Fairfax---------------------------------------------- 1926 2,600 211,224 Fairisle---------------------------------------------- 1942 10,850 1385,908 Fairland--------------------------------------------- 1942 10,87 1365,556 Hualalai--------------------------------------------- 1929 1,775 128,304 Idaho------------------------------------------------ 1941 8,664 1291,864 Island Mail------------------------------------------ 1941 9,600 213,991 on------------------------------------------------- 1918 7,080 1211,764 Jean La Fitte---------------------------------------- 1943 9, 581 1267,024 John Lykes- 1941 9,476 166,680 Lakina-- 1913 1,680 188,944 Lurline-- 1932 11, 176 1,080,000 Mariposa---------------------------------------- 1931 11,295 1,087. 344 Matsonia------------------------------------------ 1927 6, 770 976,752 ------------------------------- 1932 3,011 322,704 ------------------------------- 1932 11,300 1,085, 616 ----------------------------------- 1942 9,075 174,796 ----------------------------------- 1942 9,075 174,796 Mormacmoon.--------------------------------------- 1940 11, 184 1289, 920 Mormacport----------------------------------------- 1940 12,445 1335,796 Mormacwren---------------------------------------- 1942 9,075 1174,796 North King------------------------------------------ 1903 6,420 1213, 140 North Sea------------------------------------------- 1918 2,705 132, 192 Northland------------------------------------------- 1911 815 57,912 Pan Crescent---------------------------------------- 1901 5,769 1197,472 Permanente----------------------------------------- 1902 11, 114 1432,216 Philippa--------------------------------------------- 1902 11, 158 1 414, 888 President Johnson.----------------------------------- 1904 15, 267 302,400 President Tyler---------------------------------------- 1920 13,050 262,656 Robin Locksley-------------------------------------- 1941 10,048 1306,768 Robin Tuxford-------------------------------------- 1941 9,873 1306,768 Robin Wentley-------------------------------------- 1941 9, 198 1306, 67 Santa Cruz-------------------------------------------- 1943 9,334 167,220 Santa Isabel- 1939 9, 1313, 116 Santa Marga 1942 8,893 197,344 Santa Marta. 1909 3,095 , 296 Santa Monica--------------- 1939 8,539 171,410 Santa Paula----------------------------------------- 1932 6, 524 700,704 Santa Rosa------------------------------------------ *1932 6, 524 700,704 Santa Teresa--------------------------------------- 1940 9, 313 192. 326 Sea Pike.------------------------------------------ 1943 12,235 1 342,960 Sea Witch----------------------------------------- 1940 8,407 1 260, 112 Tacoma.------------------------------------------- 1930 10, 550 1357, 180 Toloa---------------------------------------------- 1918 4, 130 Wirrinian------------------------------------------ 1903 11, 200 1344. 952 Waialeale-------------------------------------------- 1928 1,675 168,480 Yukon----------------------------------------------- 1899 285 1248,232 Zoella Lykes----------------------------------------- 1940 9,506 155,568 Charles H. Cramp.---------------------------------- 1920 9,238 146,288 Pelaires------------------------------------------- 1942 9.012 209,813 orte------------------------------------------- 1919 7,392 118, 122 Mormaesea---------------------------------------- 1941 12, 124 281,936 Mormactern--------------------------------------- 1942 9,075 174,796 Robin Sherwood----------------------------------- 1941 9,898 218,579 Santa Barbara------------------------------------- 1943 9,085 216,921 Santa Cecilia-------------------------------------- 1942 8,871 204,4 Total.--------------------------------------------------------------- 598,908 21,956,701

[graphic]
[graphic]
[graphic]
[graphic]
[graphic]
[graphic]
[graphic]
[graphic]
[graphic]
[graphic]
[graphic]
[graphic]
[graphic]
[graphic]
[graphic]
[graphic]
[graphic]
[graphic]
[graphic]
[graphic]
[graphic]
[graphic]
[graphic]
[graphic]
[graphic]
[graphic]
[graphic]
[graphic]
[graphic]
[graphic]
[graphic]
[graphic]
[graphic]
[graphic]
[graphic]
[graphic]

Passenger—Bareboat special

DeadVessel Flag Built weight Annual hire tonnage Athos 2------------------------------ 1925 10, 318 624.00 Colombie- do--- 1931 6,800 321,384.00 Gripsholm-- 1925 10,000 1,260,000,00 Jamaiaue-- - 1922 8,750 , 133.20 Wisconsin---------------------------- 1929 9, 400 239,492.16 Total.-------------------------------------------------------------- 45,268 2,880,633.35 Fassenger–Time charter TYead* Vessel Built weight Annual hire tonnage Examiner------------------------------------------------------- 1942 9,702 $585,600 Exceller 1941 7,628 366,450 Ponce----------------------------------------------------------- 1899 3, 240,755 Steel Engineer-------------------------------------------------- 1920 9,370 457,968 Ville d’Anvers------------------------------------ -------------- 1920 6,981 496,970 Total----------------------------------------------------------------- 36,970 2, 147,743 Passenger–Time-charter special DeadVessel Flag Built weight Annual hire tonnage Iris------------------------------------- 1901 938 $119,242 Roseville_- d 1930 9, 136 434,714 Saturnia.-- 1927 7, 548 (1) Torrens-------------------------------- 1939 10, 150 520,356 Total---------------------------------------------------------------- 27,772 1,074,312 1 Undetermined. Miscellaneous—Bareboat r - Dead-weight at ht Wessel Built tonnage Annual hire Conrad Starke------------------------------------------------ 1913 1 500 $14,400 Hawaii------------------- ------------------ 1924 730 30,744 Humula------------------------------ 1929 1, 140 62,472 Pure Waco Pep. 1903 5, 146 48,960 Purei Van__- 1912 5, 250 48,960 Purol----- 1916 4,879 48,960 Welcome------------------- 1925 1 100 14,400 King No. 3 Barge----------- (2) 1 500 6,000 W. No. 10 Barge------------ § 1 300 3,600 W. No. 7 Barge----------------------------- 2) 1 300 3,600 Total--------------------------------------------------------------- 18,845 282,096. 1 Estimated dead-weight tonnage. 2 Not available. Miscellaneous—Time charter special Dead-weight Vessel Built tonnage Annual hire Clio (Dutch) 1935 628 $162,000 Ino (Dutch) - 1936 628 162,000 Total 1, 256 324,000

[graphic]
[graphic]
[graphic]
[graphic]
[graphic]
[graphic]
[graphic]
[graphic]
[graphic]
[graphic]
[graphic]
[graphic]

Miscellaneous–M iscellaneous craft

Annual Annual hire * - hire

O. Barge No. 4------------------------ $6,000

O 6,000

. & O -- 6,000 . & O. Barge No. 7------------ - 6,000 M. Barge No. 5861------- - 6,300 M. Barge No. 5862------- - 6,300 M. Barge No. 5863------- - 6,300 Total--------------------------------- 608, 004

* Estimated annual hire.

REDUCTION IN INSURANCE RATES

Mr. WIGGLEsworth. The insurance item is a little less this year, dropping from $142,000,000 to $121,100,000. Admiral LAND. Yes. Mr. WIGGLEsworth. Is that due to the reduction in the rate which you now propose? Admiral LAND. It is due to the reduction in the rate and also due to the reduction in hazards, and it follows the standard business practice. The reduction is due to those conditions. Mr. WIGGLEsworth. The rate at present is $56.25 per dead-weight ton above 25 percent below previous rates, as I understand it. Admiral LAND. Yes. It goes down 12% percent per year. Mr. WIGGLEsworth. That went down to $47 per Hooght ton as of April 1 of this year? Admiral LAND. It went down, as of April 20. Mr. WIGGLEsworth. Is the insurance paid out of insurance funds exclusively, or has it come at times out of the revolving fund? Admiral LAND. Insurance premiums are paid out of the revolving fund and insurance losses come out of the insurance fund. Mr. CHUBB. There is one exception; certain insurance was written * the 1920 act and cannot be paid out of the insurance fund under the law. Mr. WIGGLEsworth. Are the British paying insurance on comparable ships at this time? Admiral LAND. The British are paying or providing insurance; yes. Mr. W1GGLEsworth. Do you know whether the rate is higher or lower than what we are proposing to pay? Mr. CHUBB. The British provide war-risk insurance to their owners in the commercial war risk insurance and P. and I. clubs, and the values are based on 1939 values plus 25 percent. Mr. WIGGLEsworth. Do you know how that works out on a dollars-and-cents basis? Is it more or less? Mr. CHUBB. I would imagine it would be less. Mr. W1GGLEsworth. Would you say that the British comparable rates were more than one-third of the rates we are paying? Mr. CHUBB. British values vary as between individual vessels. I would not want to express an opinion on that. Mr. W1GGLEsworth. It has been represented to me that for comparable ships on the Atlantic the insurance rate paid by the British was about one-third of the rates we are paying. I should like to know whether that is a fact, and if that is not the fact, what is the fact. -

[graphic]

Mr. CHUBB. The insurance rates would be about comparable. Supposedly the valuation of the individual ships would be variable. Mr. RADNER. The last time we looked into that, the basic British insurance values for 20-year-old freighters were in the neighborhood of $40 a ton. That was the information we received. That is about 85 percent of our $47.50 value. Perhaps we can find more data on that for you. Mr. Wigglesworth. Have you any available information along that line? Mr. RADNER. We did get something about a year ago. Mr. WIGGLEsworth. # you have anything, }. like to know what the fact is. Mr. RADNER. I am quite sure that the statement that British insurance values are only one-third of ours is incorrect. Mr. WIGGLEsworth. Has your agency ever supplied Congress with a detailed statement of its activities and expenditures and rates for any given year? Admiral LAND. On what basis—an over-all basis? Mr. WIGGLEsworth. In this insurance field. o Admiral LAND. Yes; we have. s Mr. Johnson. Each year we supply that, and we have it this year. Mr. WIGGLEsworth. You have supplied it each year? Mr. Johnson. Yes. w Mr. WIGGLEsworth. A detailed statement of its insurance activities and expenses and receipts, and so forth? Mr. Johnson. Yes, sir. I can refer you to last year's hearings, on F. 457. That has an insurance statement that is fairly compreensive on the subject. Admiral LAND. +. is a very brief statement on page 211 of the justifications, and the tables that go with it are also here.

BASIS FOR CHARTER HIRE RATES

Mr. Wigglesworth. Let me ask you this question: Does the rate of $56.25 per dead-weight ton apply to all classes of ships? Is there some differentiation as to ships under charter hire? Mr. RADNER. All the material on that is shown in General Order 37, which you will find printed in Document No. 20A. Mr. WIGGLEsworth. We have had so much material submitted at the last minute that I do not know what is in it and what is not in it. Mr. RADNER. We submitted that last year. Perhaps it should be made a part of this record also. Mr. WIGGLEsworth. Does it or does it not apply to all ships? Mr. RADNER. The $56.25 value is subject to adjustment for speed, age, and other characteristics. Admiral LAND. It is exactly on the same basis as charter hire for ships. It differs with different categories of ships. Mr. WIGGLEsworth. It is not a flat rate? Admiral LAND. This basic rate applies to 10-knot, 20-year-old freighters. Mr. Wigglesworth. How many ships have you insured during the last fiscal year? Is there a table in the justifications on that? d Mr. ScHELL. If you will look at page 64, that gives you some of that ata.

Admiral LAND. All the ships under charter to us are insured, and the total number is 874.

FINANCIAL STATEMENTS OF INSURANCE WRITTEN

Mr. TABER. There is not any statement here indicating the tonnage insured or the tonnage lost, nor is there a definite statement indicating what the profit or loss is. Admiral LAND. That is all in these tables here. Mr. TABER. Are they in the justifications? Mr. Johnson. No, sir; but I will insert those in the record. Mr. Wigglesworth. Is that an insurance table? Mr. Johnson. Yes; I believe there are statements in detail. (The matter referred to is as follows:)

« PreviousContinue »