Word: fleetly
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Dates: during 1950-1959
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...Latin America to pay a courtesy call on Colombia's Strongman Gustavo Rojas Pinilla. since kicked out. The recent U.S. Ambassador to Venezuela. beaming Dempster Mclntosh. was photographed in the foolish act of making Venezuela's Dictator Marcos Perez Jimenez an "honorary member of the U.S. submarine fleet...
...will be almost as big as Hanna's Labrador project, which shipped about 12.5 million tons last year. It plans to spend something like $300 million for equipment, a railroad and a port to get the ore to market. In winter, Hanna's fleet of 40,000-ton ore carriers will shift southward from ice-locked Labrador to Brazil, cut around the world carrying 10 million tons of ore annually to U.S. and European customers. Nor will the ships go down to Brazil empty. Hanna will load them with U.S. coal, hopes to supply Brazil's entire...
...trouble with shipping is overexpansion coupled with a recession-and the glut of oil (see below). In 1957, tanker operators expanded their fleets by 5,500,000 deadweight tons, or 11%, to 49.6 million tons overall. But free-world oil production-and thus the need for tankers-will increase by 4% or less this year. Result: nearly 3,000,000 tons (6%) of the world's tanker fleet lie idle, and the total may mount to 4,000,000 tons by midsummer...
...year ago), many shipowners are going $10,000 to $20,000 in the red on each voyage. And like tankermen, Greek tramp operators are busy laying up vessels, have already mothballed about 20% of their ships. Altogether, the Greeks control a 5,500,000-ton fleet comprising half the world's tramp tonnage...
...costs and increase revenues. One idea is to set up a series of unbreakable dry-cargo rates to ensure an operating profit on each voyage. Failing in that, the Greeks may be forced to reduce their surplus tramp tonnage by laying up still another 20% of the fleet, assessing each owner with a vessel still in service a fixed fee to help maintain the idle ships...