Word: isbrandtsen
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Dates: during 1950-1959
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Among U.S. shippers, the Isbrandtsen Steamship Line is a lone sea wolf. The biggest independent line operator in the world, Isbrandtsen has fought governments around the globe in the name of freedom of the seas, has battled fellow shippers to establish free rates. Last week, after a ten-year battle, Isbrandtsen recorded the most important victory in its log book. Ruling in Isbrandtsen's favor, the U.S. Supreme Court struck down the rate-setting practices of the international shipping conferences-voluntary groups of U.S. and foreign lines-thus opening the way for a flurry of price-cutting...
About half the 112 freight shipping conferences operating in U.S. foreign trade try to freeze out the independent shippers by a "dual rate" policy, i.e., rates up to 10% lower than standard for customers who use only conference ships. Isbrandtsen has refused to join such conferences, holding that they are cartels that add to the cost of foreign trade and discourage free competition. In the early 1950s the line captured 30% of cargoes between Japan and the U.S. East Coast (with only 11% of the sailings) by setting prices 10% below those of the Japan-Atlantic & Gulf Freight Conference...
...Tough Isbrandtsen Founder Hans Isbrandtsen challenged the legality of the dual rate, fought it through many courts before he died in 1953. Since then, the company has carried on his battle under .the leadership of his son Jakob, 36, now company president. The Department of Agriculture, which ships huge quantities of surplus food, and the Justice Department joined the fray-but on Isbrandtsen's side...
...wind. In the damaged lifeboat, five men died of exhaustion and exposure during the next 54 hours. By the third morning the remaining five, living armpit-deep in water, were almost too weak to move. That afternoon, as if by magic, the great steel bow of the U.S. Isbrandtsen Co. freighter Saxon loomed almost directly over their heads, framed by a rainbow as a sudden rain squall cut into the sunlight. Minutes later, the five survivors, of whom the eldest was 24, were safe on board. A sixth, the only man left in the lifeboat that had once held...
FIRST SHIPS released by Maritime Commission under emergency program to relieve ship shortage (TIME, July 2) will go to Isbrandtsen Line, which will get 15 mothballed Liberty ships from reserve fleet, use them to carry coal to Western European markets, where demand far outstrips supply. Lease arrangement is for 15% of ships' sale price, or $1,225,000 for total one-year charter...