A vast improvement in the trade of the European coal-exporting countries was reflected in greatly increased demand for tonnage for outward coal cargoes. Outward rates for the first ten months of the year were consequently mich above those for the corresponding period of 1996.
Subsequently the shrinking scope in the homeward markets for employment of ballast tonnage led to an influx of tonnage seeking outward employment with tħe result that rates for coal cargoes fell sharply, and in December were below the average rates for 1936.
There was a remarkable expansion in the demand for tonnage on time charter, the various cargo liner companies, British and foreign, employing many tramp vessels in this way, Rates for average tramp steamers of 7-9,000 tons deadweight ranged between 5s and 10s per ton deadweight per month, though even more than the latter figure was paid in special circumstances.
Below is a table showing highest and: lowest rates in 1937 and approximate averages for 1937 and 1936 in ten leading homeward and two outward trades
Highest Lowest Average Average 1937 1996 sd d sd 5 2
41 20 2
Text read from the printed page and cleaned; old type leaves the occasional error.