Owing to big profits from the freight boom, Welsh shipowners who bought vessels during the slump ten years ago have received back in the last six months more than they paid for them.
With profitable employment offered in all directions owners are able to pick and choose employment whereas a year ago they were glad to jump at almost any cargo offer.
For two months Russia has sought 30 ships, and so far has managed to secure only half a dozen. Owners are demanding fifty per cent, more freight than a year ago.
Text read from the printed page and cleaned; old type leaves the occasional error.