TD/B/C.4/125/Supp.

^N ^^£٥ N A T IO N S € O N £ £ £ £ N € £ O N T £ A O £ A N O 0 £ ¥ £ £ 0 ? ^ £ N T

Review
of maritime transport, 1974

UNITED NATIONS
U N IT E D N ^ T I D N ^ C O N F E R E N C E O N T R ^ D E ^ N D D E ¥E L O ?^E N T
G eneva

Review
of maritime 1974
(Reriew of and lon^-te^m aspects
of maritime t^anspo^t)

^٠٢^‫؛‬ /
by the secretariat ٠ UNCTAD

UN ITED N ^T IO N ^
N e w Y o rk , 1975
 NOTE

Sym bols o f U nited N ations docum ents are com posed o f capital letters
com bined w ith heures. M ention o f such a sym bol indicates a reference to a U nited
N atio n s docum ent.

TD/B/C.4/125/Supp.l

U N IT E D NATIONS E U E T I^ T IO N

Sales No. E.75.II.D.1

Price: s u .s . 6.00
(or equivalent in other currencies)
 CONTENTS

Explanatory n o t e s ......................................................................................................................................................................... VI

A bbreviations ............................................................................................................................................................................. VII

Paragraphs
I n t r o d u c t i o n .................................................................................................................................................................. 1-2

Chapter
I. The developm ent o f international seaborne t r a d e ............................................................................ 3-17
A. G eneral d e v e lo p m e n t.......................................................................................................... 3-8
B. O evelopm ents by types o f c o m m o d itie s ........................................................................................... 9-13
C .O e v e lo p m e n t by groups o f c o u n t r i e s .................................................................................................... 14-17

II. The developm ent o f the ^vorld m erchant d e e t .......................................................................................... 18-b3

A. C hanges in the w orld d e e t .......................................................................................................................... 18-21
B. T onnage distribution by groups o f countries, with particular reference to developing
countries . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 22-36 о
1. C hanges in to tal shares o f groups o f co u n tries......................................................................... 23-27 О
2. Changes by types o f vessel o f groups o f c o u n t r i e s ................................................................ 28-36
c . tr e n d s in types, si^e and age d i s t r i b u t i o n ....................................................................................... 37-50
1. T e n d s in t y p e s .......................................... ...................................................................................... 37-39
2. Trends in s i^ e ..................................................................................................................................... 40-41
3. Trends in age d i s t r i b u t i o n ........................................................................................................... 42-50
D . The productivity o f shipping s p a e e ................................................................................................... 51-53
£ . T onnage on o r d e r .................................................................................................................................. 54-63
1. G e n e r a l ......................................................................................................................................... .... 54-57
2. D istribution o f tonnage by groups o f c o u n t r i e s .................................................................... 58-63 17

III. W orld ship prices and the deets o f developing c o u n t r i e s ................................................................. 64-100 20
A. Changes in prices o f new v e s s e l s ...................................................................................................... 64-69 20
B. C hanges in prices o f second-hand v e s s e l s .....................................................................................
€٠ A cquisition o f new an d second-hand vessels by developing countries . . . . . . . .
70-75
76-100 ‫إق‬
IV. T rends in s h ip b u ild in g ...................................................................................................................................... 101-132 27
A. C eneral developm ents............................................................................................................................ 101-106 27
B. ? a rtic u la r developm ents by type o f v e s s e l ..................................................................................... 107-127
1. Bullc cargo v e s s e ls............................................................................................................................. 107-114
2. C e n tra l cargo an d u n it load system v e s s e ls ............................................................................. 115-119 29
3. D ther v e s s e l s ..................................................................................................................................... 120-127 30
c. T rends in p r o p u l s i o n ............................................................................................................................ 128-131 32
D. A utom ation an d other technological a d v a n c e s .................................................................................. 132 34

iii
Chapter Paragraphs Page

V. F reight m a r k e ts 133-168 35
A. G eneral developm ents 133-1351‫ه‬
F. Ghanges in freight rates in 1‫ه?و‬ 36 142
160-
1. Gr^^ cargo tram p m arket freight r a t e s 142-145 36
2. Gargo liner freight r a t e s . 146-156 38
3. T n k e r freight r a t e s 152-160 41
G. F reight rate indices o f selected com m odities exported by developing countries . . . . . 161-162 41
D . Fevel o f freight rates, laying up and s c r a p p in g 163-165 42
E. F iner freight rates ^s ‫ﺓ‬ percentage o f prices o f selected com m odities, 145 168-166 . . . . 3? ‫و‬ 641-‫و‬

VI. G ther t o p i c s 164 222- ‫?و‬

A. Institutional developm ents in w orld sh ip p in g 169-190 4?

1. G e n e r a l 169-125 42
2. ? a rtic u la r examples o f institutional d e v e lo p m e n ts 126-190 48
E .G n iti^ a tio n 191-200 49
1. T e n d s in u n it load tran sp o rt s y s t e n r s 191-195 49
2. P articular developm ents w ith regard to unit load systems in liner cargo trades . . . . 196-200 50
G. ? h e prospects fo r the reopening o f the ^ u e ^ G a n a l 201-202 52
D . ٧ N G ? A ‫ ه‬training c o u r s e s 208-210 52
1. F h ird training course in p o rt m anagem ent . . ٠ . . . . . . . . . . . . . . . . 208-209 52
2. E erth th ro u g h p u t s e m in a r s 210 53
? .A ir tra n s p o r t 211-214 53
F. ? a n d b rid g es 215-218 53
1. ? h e Siberian land b r i d g e 215-216 53
2. ? h e G nited States land b rid g e 212-218 54
G. W orld cruise h e e t 219-222 54

L IS T OF TABLES A N D G RAPH S

?ABLES

1. ‫ ه‬evelopm ent o f international seaborne trade, 1965-1923 ................................................................................. 3

2. W orld seaborne trade in 1965, 1921, 1922 and 1923 by types o f cargo and shares o f groups o f countries 4
3. W orld seaborne trade, 1965-1924 ................................................................................................................................. 2
4. W orld shipping tonnage, 1965-1924 ............................................................................................................................ 8
5. D istribution o f w orld tonnage (grt) by groups o f countries o f registration 1965 and 192d-1924 . . . . 9
6. P e r c e n ta g € s h a r e o f w o r ld to n n a g e b y ty p e o f v e s s e la s a tl3 u ly , 1965, 1923 and 1924 . . . . . . . . Id
2. Percentage share o f developing countries in the w orld heet by type of vessel, 1965 and 1921-1924. ٠ . 12
8. Analysis o f w orld fleets by principal types in the period 192^-1924 .......................................... 13
9. ? re n d s in average si^e o f w orld fleet by selected types o f vessels, 1922-1924 ................................................... 14
0. Age distribution o f w orld m erchant fleet by type o f vessel ^s a t 1 3uly 1924 ................................................... 14
1. E stim ated ton-m iles o f oil shipm ents p er dwt, in 1962-1923, by oil tankers o f 10,000 dw t and above . . 16
2. E stim ated ton-m iles o f bulk com m odities carried per dw t between 1962 and 1923 by bulk carriers, inclu-
ding bulk/oil carriers o f 18,000 dw t an d ab o v e ............................................................................................................ 16
3. Gargo carried per dw t o f w orld fleet, 1962-1923 ....................................................................................................... 16
4. W orld tonnage on order as at 31 O ctober, 1920-1924.............................................................................................. 18
5. Representative new building prices for bulk carriers and tin k ers, 1962-1924 . . . . . . . . . . . . . 20

iv
 Page

16. Estim ated prices for new an d read)? liner type vessels 11,000/13,000 d ^ t, 1967-1974........................ 21
17. TanEers: second-hand prices, average v a i n e s ............................................................................................. 21
18. U ry bulk carriers: second-hand prices, average v a l u e s ........................................................................... 22
19. Liner type vessels: second-hand prices, average v a l u e s ........................................................................... 22
20. The course o f the estim ated freight rates and second-hand values for a 38,000 dw t bulk carrier built in
1966 (1,660,000/1,760,000 cubic feet w ith cran es)........................................................................................ 22
21. Estim ated developm ents o f freight rates and values fo r a good class 10,600/12,600 dw t shelter-decker 23
22. €han g es in the ocean-going m erchant heets o f developing countries in 1973: acquisition o f new and
second-hand ships by type o f vessel— ocean-going ships o f 1,000 grt and o v e r ................................ 24
23. Ueliveries o f new buildings, 1968-1974 ......................................................................................................................... 27
24. N um bers o f u n it load system vessels on o rder at mid-1973 and mid-1974 ........................................................ 30
26. E iquid gas carriers— type and capacity analysis, January 1974 .............................................................................. 31
26. Existing and projected E N G schemes which include the building o f E N G c a r r i e r s ........................ 32
27. Trends in propulsion o f vessels und er construction and on order a t 30 Septem ber, 1972-1974 . . . . . 33
28. Ereight rate indices 1970-1974 37
29. Nummary o f liner freight rate changes an d surcharges announced during the years 1972-1974 . . . . . 39
30. Indices o f freight rates o f selected com m odities exported by developing c o u n t r i e s ........................ 42
31. R elationship betw een changes in freight rates and changes in laid-up t o n n a g e ................................ 46
32. T he ratio o f liner freight rates to prices o f selected com m odities, 1964-1973 .................................................... 46
33. ^hare o f cargo m oved in containers in the m ajor liner trades to and from the U nited States o f A m erica,
1 9 7 1 a n d l9 7 2 ......................................................................................................................................................... 61
34. Trends in air freight volum e and in air freight operating revenues, 1968-1973 ................................................ 63
36. U evelopm ent o f the w orld cruise heet, 1966-1974 ................................................................................................... 64
36. Flag distribution o f the w orld cruise heet, 1973 and 1974 ..................................................................................... 66

G ra ph s

1. The course o f freight rate indices and laying-up and scrapping as percentages o f w orld tonnage, 1968-1974:
dry cargo v e s s e l s ................................................................................................................................................ 43
2. The course o f freight rate indices an d laying-up and scrapping as percentages o f w orld tonnage, 1968-1974:
oil t a n k e r s ....................................................................................................... 44

ANNEXES

I. C lassihcation o f countries and te rrito rie s 66

II. W orld seaborne trad e according to geographical areas, 1966 and 1969-1972. . . . . . . . . . . . 68
III. U istribution o f w orld tonnage by hag o f registration and type o f ship, in order o f size o f heets, in grt
and dw t, as at 1 July 1974 61
IV. U istribution o f w orld heet by geographical areas, as at 1 July 1974 67
V. A dditions to and n et changes in the m erchant fleets o f developing countries and territories during 1973 69
VI. A m endm ent to the G E C U U nderstanding on E xport Gredits for S h i p s 76
VIE Selected m axim um and m inim um tram p freight rates, 197 1974 -‫ه‬ 76
VUE L iner freight rate changes an d surcharges announced during the year 1974 77
 EXPLANATORY NOTES

R eferences to dollars ($) are to O nlted State dollars unless otherwise stated.
References to tons are to m etric tons, unless otherwise specified.
The term “billion” signifies 1,000 million.
U se o f a h^^phen betw een ‫?؛‬ears, e.g., 1965-1966, signifies the full period involved,
including th e beginning an d end ‫?؛‬ears.
A n oblique strode (/) betw een ‫?؛‬ears, e.g., 1965/66, signifies a season o r crop
‫?؛‬ear.
D etails an d percentages in tables do n o t necessaril‫ ?؛‬add up to totals, because
o f rounding.
*
‫ﺀ‬ *

The following s‫?؛‬mbols have been used in the tables in this R eview ;
A full stop (.) is used to indicate decimals.
Tw o dots ( . . ) signif‫ ?؛‬th a t d ata are n o t available or are n o t separatel‫ ?؛‬reported.
A dash ( - ) signifies th a t the am ount is nil, o r less th an h a lf the u n it used.

٠
* *

The description an d classification o f countries and territories in this docum ent

an d the arrangem ent o f m aterial, should n o t be considered as im plying any judge-
m ent by the S ecretariat o f the U nited N ations regarding the legal status o f any
country o r territo ry o r in respect o f the delineation o f its boundaries, o r regarding
its econom ic system o r degree o f developm ent. Inclusion o f a p articular country
o r territo ry in any econom ic o r geographical grouping (or its exclusion) has been
dictated by econom ic an d statistical considerations.
 ABBREVIATIONS

N am es o f organizations

A SE A N A ssociation o f S onth E ast A sian N ations

€ A IE A Oouncil o f A ll-Japan Exporters A ssociation
EE€ E uropean Econonric € o n m m n it‫?؛‬
FA O F o o d an d A griculture O rganisation o f the U nited N ations
FEFU F a r E astern F reight Conference
F^€ F e d e ra lh la ritiin e C n m rissio n (U nited States)
lA T A In tern atio n al A ir T ran sp o rt A ssociation
IC A O In tern atio n al Civil A viation O rganisation
O A FE C O rganisation o f A rah Fetroleum E xporting Countries
OECO O rganisation for Econom ic C o-operation and Oevelopnrent
0?E C O rganisation o f ?etro leu m E xporting C ountries
UNCTAD U n ited N atio n s Conference on T rade and D evelopm ent

Other abbreviations

B A CA T Barge a b o ard catam aran

CAF C urrency adjustm ent factor
c.i.f. C ost, insurance, freight
d^vt D eadw eight tons
f.i.o. F ree in an d o u t o f ship
f.o.b. Free o n b o ard
g rt C ro ss registered tons
Intascale In tern atio n al T an h er N om inal Scale
E A SU L ighter a b o ard ship
LNG Liquefied n atu ral gas
L ?c Liquefied petroleum gas
n.e.s. N o t elsewhere specified
OBO O re/bulL/oil
pw c F ahistan w hite cuttings (jute)
R o /R o R o ll-o n , ‫ آ‬0 ‫ ا‬0-
1‫ﺀ‬
RSS R ibbed s m o ^ d sheet (rubber)
shp Shaft horse-pow er
TEU Tw em y-foot equivalent unit
ULCC U ltra large crude carrier
V LCC Very large crude carrier

٢١‫؛‬
 IN T R O D U C T IO N

1. As ]‫ آل‬previous years, this revie^v has bee!^ prepared by the secretariat of

U N C T A D in accordance ^vith item V o f the program m e o f w ork o f the Com m ittee
on Shipping.^
2. 8tatisticai evidence an d other inform ation w ith regard to the developm ent
o f intern atio n al m aritim e tra n sp o rt is presented and discussed in the review with
a view to relating year-to-year developm ents to relatively longer-term trends in
w orld shipping, ? a rtic u la r attention is given to factors and developm ents a^ecting
the trad e an d shipping o f developing countries. In order to keep the size o f the
tables w ithin m anageable lim its, in m ost cases d ^ta for the m ost recent years only
have been included. D a t^ fo r earlier years can be fou‫^؛‬d in the review fo r 1922
an d 1923.2

‫ أ‬Official Records o f the Trade and Development Board, Fifth Session, Supplement No. 2 (TD/
B/116/Rev.l), annex 11.
2 Review o f maritime transport, 1972-1973 : ‫ ؛‬٠٠٢^
٢ by the secretariat ٠/ U NC TAD (United
N ations ^nhlieation. Sales N o. E.75.II.D.3).
 Chapter I

THE DEVELO PM ENT OF INTERNATIONAL SEABORNE TRADE

A. General development altered the whole International trade picture, particu-

lari)? as regards the trad e in oil, ^ r w hich dem and has
3. T rade d ata for a com plete review o f trad e develop- slackened.
m ents in 1974 are n o t yet available. N evertheless the
5. T he statistical inform ation relating to international
scattered inform ation which is available a t the tim e o f
seaborne trade in selected )?ears betw een 1965 and 1973
the prep aratio n o f this review conhrm s th a t the e je c ts on
is found in table 1. Since trade d ata fo r 1974 are n o t
w orld trad e o f the im p o rtan t developm ents w hich occurred
yet available, only lim ited reference is m ade in this chapter
a t the very end o f 1973 w ith regard to the supply, an d in
to the particular changes in international seaborne trade
particu lar to the rise in prices, o f oil have been apparent
which occurred in 1974 and this is done on the basis o f
thro u g h o u t 1974.
the general inform ation available.
4. O ver the long term international seaborne trade
6. A lthough over the long term the volum e o f inter-
has followed a rising trend, b u t its short-term develop-
national seaborne trade, as p a rt o f w orld trade, has
m ent has been subject to huctuations. A lthough there is
a wide range o f factors th a t m ay a№ ct th e course o f followed a rising trend, the annual grow th rate has
w orld trad e as a w hole, it appears th a t a few industrial varied considerably. Even w hen the grow th rates ^re
countries exert a d om inant inhuence o n w orld trade and averaged over three-ye^r periods huctuations in the rate
o f grow th rem ain. The hgures are:
consequently on seaborne trade. F o r exam ple, the
relatively high rates o f grow th in these countries in 1972, Average annual
an d particularly in 1973, were accom panied by high 3-year period rate o f growth
rates o f grow th in the volum e o f international seaborne 1962-1964 . . . . . . 9.7 p e rcen t
trade. Oonversely, th e repercussions o f the sharp in- 1966-1967. ... .. 8.3 per cent
crease in oil prices on the econom ies o f the m ain industrial 1968-1970 . . . . . . 11.0 p e rcen t
countries in W estern E urope an d N o rth A m erica have 1971-1973. ... .. 7.0 per cent

T able 1
Development of international seaborn 1965-1973‫؛‬،
trade‫؛‬
(Goods loaded)

٠٢ ^ cargo

O f w hich:
rrtain b ulk
T anker cargo Total T o ta l (a ll goods)

Percentage Percentage Percentage Percentage

increasel increasel increasel increase!
decrease decrease decrease
over over over
M illions previous M illions M illions previous M illions previous
Year o ft o n s yea r o fto n s o fto n s ^٠٢ o ft o n s year

1 9 6 6 . . . . . . 862 9 812 13 327 ‫ا‬, 4?

6 11
1 9 6 6 . . . . . . 960 10 820 1 340 770‫؛‬,

،‫ة‬
1967 . . . . . . 1,023 8 887 8 362 910],
1968 . . . . . . 1,141 12 966 9 384 107‫؛‬,
1969 . . . . . . 1,276 12 1,036 7 419 ‫أ‬, 312 10
1 9 7 0 . . . . . . 1,440 13 1,166 13 488 16 606‫؛‬,
1971 . . . . . . 1,626 ‫ﺀ‬ 61,173 ‫ﺀ‬ 1 4
1972 ...... 1,646 ٠ 71,271 ٠ 6
1973 . . . . . . 1,841 12 1,349 10 699 19 ,190

S o u rc e : F o r ta n k e r ea r^ o , t ‫ ه‬ta ‫ ل‬d ry ea r^ o a n d all g o o d s: U n ite d N a tio n s, M o n th ly Bulletin o f S ta tistics, ^an n ary

Issnes; ^or m a in b u lk co m m o d ities: F earn ley a n d E gers C h arterin g C o . L td ., W o r ld B u lk Trades, 1973 (C slo , 1974).
٠ Including in tern atio n al cargoes lo a d ed a t p o rts o ^ th e G re a t L ak es a n d S t. L aw rence system fo r u n lo a d in g a t p o rts
o f th e sam e system , b u t excluding m a n y b u lk com m o d ities. In clu d in g p etro leu m im p o rts im o N eth e rlan d s A ntilles a n d
L ^ n id a d fo r refining a n d re،export.
١١ D a ta o n iro n o re, grain, co al, b au x ite/alu m in a a n d p h o sp h ate .
٠ Revised on the basis 0‫ك‬revised trade data included in United Nations, Monthly Bulletin o f Statistics, vol. XXIX,
N ٠٠ 1 J a n u a r y ‫ل‬97 ‫)ك‬, special ta b le D .
 ‫‪٠‬‬ ‫‪٠‬‬ ‫ﺩ‬ ‫‪٦٩‬‬ ‫‪ ٩‬ﺑﻢ‬
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‫ﻱ‬ ‫‪٠١‬‬ ‫)‪S‬‬ ‫’* ‪0‬‬ ‫‪(N‬‬ ‫‪٠‬‬
‫|ق‬

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‫©‬ ‫ﻫﺎ‬ ‫‪ " S‬؟‪1‬‬ ‫ﻩ‪٠١ 4‬‬ ‫‪٠١‬‬
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‫‪٠‬‬ ‫ﻫﺎ‬

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‫‪Q‬‬ ‫‪٠‬‬ ‫*‪* ،٨‬ب‬ ‫‪00‬ﺹ‬
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‫‪00‬‬
‫|‬ ‫|ﻕ‬
‫‪о‬‬ ‫‪٢٢‬‬ ‫ﻣﺤﺎ ‪٠٨‬‬ ‫‪٢٠١ 00‬‬ ‫*© ي‬
‫‪.٢٢.‬‬

‫‪о ٢٢ 1-Н‬‬
‫‪oàо ٢٠١‬‬ ‫'‪٢٠١ ٢٠٠٠‬‬ ‫‪٧٦ о‬‬

‫صأم‬ ‫‪о р ٣٦‬‬ ‫‪ ٣٦‬؟‪٠‬‬ ‫ﺑﻤﻢ‪VO‬‬

‫‪ООО‬‬ ‫أ}‬ ‫ج‬
‫‪Р‬‬

‫‪as‬‬ ‫‪٠‬‬ ‫‪ ٠١. о‬ﺑﻢﺀ‬

‫‪٢٢‬‬
‫©‪V‬‬

‫‪оо‬‬ ‫‪٢٢ <N‬‬

‫‪٢٢‬‬ ‫‪٢٢٢٢‬‬ ‫*‪٢٢ 00‬‬ ‫’‪٢٢ o‬‬

‫و‬
‫‪٢٢‬‬ ‫‪ ٩‬ع‬ ‫‪٢٠١٠ Р‬‬ ‫آم‪VO‬‬ ‫‪00 ٢٠٠‬‬

‫؟‪1‬‬
‫‪ 8‬ة‬
‫‪٢٠١‬‬ ‫ﺑﻢ^‬ ‫ﻣﺤﺎ^‬
‫‪٢٢.‬‬
‫‪и‬‬

‫‪ ٢٠١‬ﺗﻮ‬ ‫ﺑﻢ أم‬

‫ة ﺀ‬
‫ج‬ ‫؛‪5‬‬

‫‪о‬‬ ‫رم ‪٢٣١‬‬ ‫‪р VO‬‬ ‫‪ о‬ﺑﻤﻢ‬

‫‪٢٢٠١‬‬
‫ج‬ ‫‪,‬و‬
‫ةق |‬

‫‪٩ ٩‬‬ ‫‪оо‬‬ ‫‪٩٢٢‬‬

‫‪٢٠٠ es‬‬ ‫‪VOо‬‬

‫!‬ ‫‪٩‬‬
‫‪00‬‬
‫‪о‬‬
‫‪о‬‬
‫‪٢٢٠٧١‬‬
‫آم *‪VO‬‬
‫‪٢٢‬‬
‫|ف‬

‫&‬ ‫ة‬
‫‪.‬‬ ‫ﻕ‬
‫ا;ك‬

‫!آ‬ ‫ئ ئ إل‬

‫‪а 0‬‬
‫ﺟﻖ‬ ‫‪0‬‬ ‫‪{III:‬‬
‫م|‬ ‫ه‬
 7. The rate o f grow th o f international seaborne trade, 12. The rem aining 55.6 per cent o f the dry cargoes
which was less th an 4 p er cent in 1971 and 6 p er cent in carried by sea in 1973 consisted o f a great variety o f
1972, rose to 11 p er cent in 1973, which was a year o f heterogeneous products. M ost were “ general cargo ” ,
strong econom ic activity an d trad e prosperity despite which is transported by liner vessels, including container
the continuing m onetary instability and the restrictions and other vessels carrying unitized cargo, and also by
in the supplies o f oil applied during the last ٩ u a rt ‫ ه‬r o ftram ps and specialized carriers w hich in m any trades
the year, ?reh m in ary estim ates, however, p o in t to a com pete w ith liners; the rest consisted o f a num ber o f
new slackening in the rate o f grow th o f international “ m inor ” bulk com m odities, w hich increasingly tend to
seaborne trade, particularly in trad e in oil in 1974 .‫و‬ be transported in bulk and full ship loads. A lthough
com plete d ata illustrating the e^act dim ensions o f the
8. $uch differing an d fluctuating rates o f grow th o f
trade in these “ m inor ” com m odities are n o t available,
international seaborne trad e have direct short-term
some indication is provided by the d ata showing the
e je c ts on freight m arkets an d also, to some extent, on
volum e o f “ m inor ” bulk com m odities lifted by bulk
developm ents in the supply o f tonnage, as will be discussed
carriers o f over 18,000 dwt. ‫ ﺀ‬In 1973, 134 m illion tons
in chapter II below.
were lifted, as against 125 m illion tons in 1972 an d 94
m illion tons in 1971. Tim ber, sugar, salt, soya beans,
B. Developments by types of commodities fertilizers, cement, gypsum, sulphur, pyrites, ilmenite,
m anganese and chrom e ores, petroleum coke, scrap
9. T able 1 also shows the volum e o f international iron, pig iron and steel products are included in this group
trad e by m ajo r types o f cargo. In 1973 tan k er cargo o f comm odities.
continued to increase faster th a n to tal cargo traded 13. T able 3 gives d ata reflecting w orld shipping
despite the setback in p roduction an d trad e which has perform ance in term s o f ton/m iles. D istances, which
occurred since D ctober 1973. T an k er cargo grew a t a have played a signiflcant role in the rapid expansion o f
rate o f 12 p er cent to reach a level o f 1,841 m illion tons, dem and for shipping services in previous years, do n o t
while dry cargo increased by 1 ‫ ه‬per cent to 1,349 m illion seem to have increased substantially in 1974. The
tons. As a result o f this higher grow th rate, tanker increases in shipping perform ance were m ainly due to
cargo accounted for 57.7 p er cent o f the to tal tonnage o f increases in tonnage carried.
cargo loadings in 1973 as com pared w ith 57.2 per cent in
1972 an d 5© p er cent in 196©. The prelim inary inform -
ation available suggests th a t in 1974, however, tanker c. Developments by groups of counties
cargo increased a t a m uch low er rate (1.6 per cent) as
against an increase o f a b o u t 8.3 per cent in dry cargo 14. The percentage shares o f various groups o f
trade. ٠ T hus the share o f tan k er cargo in to tal trade countries in the volum e o f international seaborne load-
is likely to be substantially low er in 1974 th a n in 1973. ings and unloadings o f cargoes by categories o f goods
!©. I t can be seen from table 2 th a t the m ajor p ortion in 1965, 1971 and 1972 are show n in table 2. This
o f tank er cargo consists o f crude petroleum , the rem ainder table also shows the shares o f various groups o f countries
being various petroleum products. In 1972 petroleum in total loadings an d unloadings in 1973. G ertain
products accounted fo r 19.6 p er cent o f to tal tanker changes in the long-term p attern o f w orld seaborne
cargo as com pared w ith 2©.9 p er cent in 1971 and 28 trade can be observed y following the changes which
per cent in 1965. I t has been observed from additional have taken place in the shares o f goods loaded and un-
inform ation® th a t the share o f petroleum products loaded in the foreign trade o f di^erent groups o f countries.
declined fu rth er in 1973 an d 1974, although a t a slower 15. The com bined share o f developed m arket-
rate. T he tendency to expand reflning capacity in oil econom y countries and countries o f southern E urope
producing countries a t a faster rate th a n in p ast years decreased slightly from 3fl.6 per cent in 1972 to 3fl.5
m ay help to check or possibly reverse the declining trend per cent in 1973. T he share o f socialist countries o f
in the share o f oil products in the com ing years. eastern E urope and A sia declined over the same period
11. T here are no d a ta showing the change‫ ؛‬in inter- from 5.6 to 5.2 per cent, wh^le the share o f developing
national seaborne trad e by all types o f cargo separately. countries increased from 63.8 to 64.3 per cent.
Now ever, the developm ent o f w orld seaborne trade in 16. In term s o f goods unloaded the share o f develop-
the flve m ain dry b ulk com m odities, i.e., iron ore, grain, ing countries showed a slight increase from 17.4 per cent
coal, bauxite/alum ina an d p hosphate rock, is indicated in 1972 to 17.5 per cent in 1973, while the com bined
in table 1. In the p eriod 1968 to 1973 tr^de in the m ain share o f the developed m arket-econom y countries and
bulk com m odities grew a t an accelerated rate com pared countries o f southern E urope decreased slightly from
w ith earlier years and it appears th a t in 1974 shipm ents 79.2 per cent to 79.1 per cent over the same period. The
o f these com m odities have fu rth er increased. T heir share o f the socialist countries o f E astern E urope and
share in w orld seaborne dry cargo trad e was 44.4 per A si^ rem ained constant a t 3.4 per cent.
cent in 1973 as com pared w ith 41.3 p er cent in 1972.
17. Table 2 also gives an indication o f the develop-
m ent o f the shares o f d i^eren t groups o f countries in the
‫ ﺀ‬Fearnley and Chartering Ce. Ltd., Review, 1974 (Cslo,
1974).
٠ Ibid. ‫ ﺀ‬Fearnley and Egers Chartering Co. Ltd., World Bulk Trades,
‫ ﺀ‬Ibid. 1973 , 0‫ وﺛﻢ‬/ ‫ ه) د‬$‫) ا‬, table 30.
 T able

World seaborne trade, 1965-1974

(In 1,000 million ton-miles)

Crude Iron O ther Total

oil products Coal Grain cargo trade

963 2,480 640 327 216 1,600

966 2,6^9 700 373 226 408 1.700
967 3,400 730 631 269 380 1,800 7,230
968 4,197 730 773 310 340 2,000 8,372
969 4,833 760 919 383 307 2,130 9,374
970 3,397 890 1,093 481 2,200
971 6,334 900 1,183 434 406 2,230
972 7,719 930 1,136 442 2,400 13,101
973 9,171 1,010 1,398 467 2.700
974 (estimated) . . . . . . 9,330 1,013 1,300 300 380 3,030 16‫؛‬000

‫ ا‬by F earn ley a n d ] s C h arterin g c© . L td ., Review , 1974 (1974 ‫ ه‬$‫( ) ﻣﻬﻞ‬R evised figures fo r 197^

various t ‫?؛‬pes o f goods loaded an d unloaded from 1971
to 1972. T he share o f developing countries in loadings
o f crude petroleum and d r ‫ ?؛‬cargoes changed onl ‫ ?؛‬slightl ‫?؛‬
while their share o f petroleum products loaded declined
from 64.1 per cent to 61.8 per cent. In term s o f goods
unloaded the share o f developing countries decreased
significant !‫ ?؛‬-w ith respect to crude petroleum an d p etro
leum products, while their share in the unloadings o f
dr ‫ ?؛‬cargo showed an increase. T he shares o f developed
m arhet-econom ‫ ?؛‬countries and countries o f southern
Europe tahen together increased fo r all three t ‫?؛‬pes o f
com m odities in term s o f goods loaded, while in term s of
goods nnloaded their share increased w ith respect to
crude petroleum and petroleum products and decreased
w ith respect to d r ‫ ?؛‬cargo from 78.4 per cent in 1971
to 77.6 per cent in 1972. T he shares o f the socialist
countries o f E astern E urope and A sia decreased with
regard to all three t ‫?؛‬pe$ o f goods loaded; while their
share in unloadings increased slightl ‫ ?؛‬w ith regard to
crude petroleum and signihcantl ‫ ?؛‬w ith respect to d r ‫?؛‬
cargo, and decreased slightl ‫?؛‬, w ith respect to petroleum
pro d u cts .
 Chapter II

THE DEVELOPM ENT OF THE W ORLD M ERCHANT FLEET

A. Changes in the world fieet num ber and tennage capacity o f certain types o f vessels
included in this category, e.g., small-size and specialized
18. Between mid-1973 and mid-1974 the w orld active vessels, are increasing rapidly, although the relevant
sea-going m erchant fieet increased by 7.7 per cent in grt developm ents are n o t re jec ted in the aggregate tonnage
o r by 9.5 per cent in term s o f dw t, as com pared with an figures discussed here. C ertain developm e ‫ س‬s are dis-
increase o f 9 p er cent in g rt an d 10 per cent in dw t in cussed further in section с below.
1972-1973, an d 9.1 per cent an d 10.7 p er cent, respectively,
in 1971-1972 (see table 4). 21. The tendency for the dw t/grt ratio to increase has
persisted during 1974. This is show n below, where the
19. T an k er tonnage grew m ore rapidly th an th a t o f ratios in selected years are com pared with those o f 1974:
non-tankers in 1973-1974. T ankers registered a rate o f
grow th o f 13.8 p er cent in term s o f dw t as against an Estimated dwt/grt ratios fo r tankers and bulk >->•>>»■.
increase o f l l . b p er cent in 1972-1973 and 10.9 per cent
Year T ankers B u lk carriers
in 1971-1972. The grow th o f non-tan k er tonnage slowed
dow n to a rate o f 5.7 per cent in 1973-1974 as com pared 1965 1.58 1.53
w ith 8.6 p er cent and 10.4 per cent in the tw o preceding 197^ 1.79 1.69
years. H ow ever, w ithin this group, bulk carrier (includ- 1973 1.8^ 1.7‫ه‬
ing com bined carrier) tonnage recorded a relatively 1974.... . . . . . . . . . . . . 1.84 1.71
high rate o f increase (10.3 per cent). This, however,
represents a considerable slow-down in the grow th rate
from the figures o f 16.1 per cent in 1972-1973 and 21 per Since the grt is calculated on the basis o f the cubic
cent in 1971-1972. space o f vessels and, hence, is related to vessel dimen-
sions, and dw t refers to the carrying capacity o f vessels,
20. In 1973-1974, as in previous years, “other ships” the increased dw t/grt ratio implies rising productivity o f
showed relatively small increases. Nevertheless, the t a n ^ r s and b u l^ carriers.

T able 4

World shipping tonnage,“ 1965-1974 ‫ه‬

(Mid-year figures)

Tankers B u lk carriers ٥ O ther ships T otal

Year M illion g rt M illion d w t M illio n g rt M illion d w t M illio n g rt M illio n d w t M illion g rt M illio n dw t

S o u rces: L lo y d 's R egister o f S hipping: Sta tistica l Tables (L o n d o n ), 1965-1974, a n d su p p lem en tary d a ta reg ard in g th e U n ite d S tates R eserve fleet a n d th e G re a t L akes
fleets 0 ‫ ؟‬th e U n ite d States a n d C a n a d a p ublished by th e U n ite d S tates D e p a rtm e n t o f C om m erce, ^^ arh im e A d m in istratio n . F igures in d w t u p to a n d in cluding 1969
figures in dw t a r^ b a s e d , regarding ^ a n ^ ^ s , o ^ d a t a fro m th e In stitu te o f sh ip p in g E conom ics, Shipping S ta tistics (Brem en), a n d reg ard in g b u lk ca rriers o n d a ta p u b lish ed
in F earnley a n d E gers C h arterin g C o. L td ., Review , 1973 (G slo).
٠ E xcluding th e U n h e d ‫ة‬ ‫ إ‬R eserve fleet a n d th e G re a t L a^es fleets o f th e U n ite d S tates o f A m erica ٤ ‫ ؛‬ta b le 5, n o te a, fo r vario u s estim ates o f these

١١ U p to a n d including ] 969, figures in g rt a re n o t strictly co m p arab le w ith th o se in dw t, as th e grt series refers to all co m m ercial vessels (including e.g. fishing an d
research ships) o f 100 g rt anc above, w hile th e dw t series includes only sea-going carg o a n d /o r passenger-carrying vessels a n d to n n a g e fo r eo m m ercial p u rp o ses o f 300 g rt
a n d over.
٠ U p to a n d including ' figures in dw t ‫ ؛ أ‬n o t strictly co m p arab le w ith th o se in ; ft, as th e d w t figures refer to b u lk ca rriers o f 10,000 d w t a n d ab o v e ١
th e g rt figures refer to b u l^ ca rriers o f 6,000 g^t ‫ أ‬1 above.
 ‫‪٣٠١ ٢٠١‬‬ ‫‪00‬‬ ‫‪٢٢١‬‬ ‫‪00‬‬ ‫‪٢٢‬‬ ‫‪٢٢‬‬

‫‪q‬‬ ‫‪٧٦٠١‬‬ ‫‪ ٢٩‬ﺑﻤﺎ ﺑﻤﺎ‬ ‫؟©‬

‫‪ ٢٦‬ﺑﻢ ‪٠٩‬‬
‫ك‬ ‫أم‬
‫ﻳﻢ‬

‫ﺀا ‪О ٠ ١‬‬ ‫‪00 ٢٢ ٢٣ ٧٦‬‬

‫‪ ٢٣ о о‬ام ‪٠١ ٢٢ о‬‬
‫ﺑﻢ|ﺗﻢ‬

‫‪q‬‬ ‫‪ ٩٠١‬ام^‬ ‫‪٢٢ 00 ٠١ ٢٢ ٢٢ ٢٦ ٢٠٠‬‬

‫‪P‬‬ ‫‪٢٢ ٢‬‬‫‪٠‬‬
‫‪٠‬‬‫؛‪٠©٠٢٢ N О О‬‬

‫‪q‬‬ ‫‪٢٠١٢٦‬‬
‫‪О‬‬ ‫‪ ٠‬ي‬ ‫ﺓمبﺄ ‪ 0‬ﻗ ﺔ‬ ‫‪I‬‬

‫‪I‬‬
‫ﻳﻢ‬ ‫ﻳﺂﻣﺐ©ﻫﻢ‬ ‫‪،٨‬‬
‫ة‬ ‫‪٧١‬‬ ‫ام‬
‫ﻣ ﺤ ﺎ ‪oôvoorSo'i‬‬

‫‪٢٢‬‬
‫‪٢٢‬‬
‫ج‬ ‫‪00‬‬ ‫‪٢٠٢٣٢٢٢٠١٢٢‬‬ ‫ﻣﺎ‬
‫ﻳﻢ‬

‫‪q ٢٢‬‬ ‫‪،٨‬‬

‫‪٠١ 00‬‬ ‫ﺤﺑﻲ‬
‫ﻣﺎ‬ ‫‪ ٢‬ئ‬
‫‪٢‬‬‫‪١‬‬
‫ﺛﻢ*‬ ‫؛ﺀ ر‬

‫ﺤ^‬
‫ﺛﻢ ؛‪ ٢٢‬ئ ﻣ ﺎ‬ ‫ئ ا‬

‫‪o p‬‬ ‫‪٩ ٢٦ ٢٢‬‬ ‫‪00‬‬ ‫‪٦‬‬

‫‪Л1‬‬
‫‪٧٦ 00‬‬

‫‪٧١‬‬ ‫ﺑﻤﺎإﻣﺎ ^ ‪q‬‬ ‫؟^‬ ‫آل ﺑﻢ‬

‫؟‪f o-‬‬ ‫‪٧٦ 00 ٢٢ ٠١ ٢‬‬
‫‪٠‬‬‫‪٠‬‬
‫‪• о ٢٣‬‬

‫‪41‬‬ ‫ﻳﻢ‬
‫‪' ٢٣ ٠١ VO‬‬

‫‪OP‬‬ ‫‪^ ١٠‬‬

‫‪٢٦^٢٠١١‬‬
‫‪٠‬‬ ‫*ص‬
‫*ﻳﻢ‬ ‫ﺷﻤﺄي*ﻳﻢ‬ ‫ﻧﺤﺎﻣﺢ‪0‬‬ ‫ا‬
‫‪VO‬‬ ‫^ ميمي ‪٧١‬‬

‫‪I о ٢٦ q‬‬
‫‪S‬‬ ‫ه‬ ‫ﺻﺎ ‪ ©٠‬س!‬
‫‪٦٠‬‬
‫!‬
‫‪٧١ ٧٦ о 00 ٣٠‬‬
‫غ‬ ‫ا *‪ 00*٧١‬ك^‬ ‫وآ>‪й‬‬ ‫‪H-‬‬

‫ص‬
‫‪о‬‬
‫ﻣﺎرﻣﺎﻣﺎﻣﻢ\م‬
‫ئ ر ‪о о 0 * ٧٦ ٢٢‬‬
‫‪١٠٠‬‬ ‫‪I‬‬
‫‪ ٠٠٩‬ﺯﻡ ﻩ ﺓ‬
‫•‬ ‫■‪Л глго‬‬

‫ﻑ‬ ‫؟‬
‫هﺀ‬
‫ئ‬
‫ه‬
‫‪а‬‬

‫‪II‬‬ ‫ح‬ ‫ق‪ ،‬ة‬

‫؟ﺀق‬

‫ةة‬ ‫!‬ ‫ﺝ‬

‫|‪.‬ة‬ ‫■■ائ‬
‫‪٥٠‬‬
‫' ة ﺀ‪ .‬ق ة‬ ‫وئ‬ ‫ج* ق<‬
‫ﻗﺄأ ‪s‬‬ ‫■•‬
‫ة||ﺀ‬
‫أ'! اامﺀ‬ ‫صﺀ‬ ‫جﺀ‬
‫|‪ 1‬ا !‬
 B. Tonnage distribution by groups of countries ‫ل‬. Changes in total shares ٠/ groups ٠/ countries ‫أ‬
with particular reference to developing countries
23. The particular tonnage changes from 1973 to
22. A nnex II! below gives the distribution o f w orld 1974 were sim ilar to those observed in previous ‫؛‬/ears.
tonnage by flags o f registration an d by type o f vessel. T he share o f tonnage general!‫؛‬/ regarded as being bene-
The distribution o f w orld tonnage by groups o f countries ficially owned in developed m arket-econom y countries,
is sum m arized in table 5 while table 6 gives inform ation including southern Europe, increased from 84.6 per cent
concerning the distribution by groups o f countries for in 1972 to 85.2 per cent in 1973 and 85.3 per cent in 1974.
di^eren t types o f vessels in selected years. G ountries are
‫ أ‬Whenever particular country data are used in this discussion,
classifled in accordance w ith the classiflcation given in they are derived from Lloyd's Register ٠/ Shipping: Statistical
anne^ I. ? ‫هﺀآ‬/‫( ﺀﺀ‬London), various issues.

T able 6

Percentage share of world tonnage by type of vessel a at 1 July, 1965, 1973 and 1974■
(In terms o fg r t)

carriers including G eneral Container Barge carrying

Croups o f countries Year A ll ships ^ T ankers com bined carriers cargo ‫ﺀ‬ ships vessels O ther ships

ndex o f tonnage increase: 1965 = 100

W erld total 974 100.0 42.2 25.1 0.3
973 100.0 40.5 24.5 23.8 0.3 S.9
100.0 11.1
O f which:
Developed market economy countries (ex-
eluding southern E u ro p e ) ............................. 974
973
965
50.9

61.8
53.;

62‫؛؛‬
‫ةق‬:‫ة‬ 41.7
91.5
94.9
64.6
100.0
100.0 50.6

Southern Europe, excluding Cyprus . . . 974 10.1 11.5 1.0 6.9

973 10.3 7.5
8.0 4.9 6.2
Open registry countries 974 24.3 30.9 18.2 4.5 4.9
973 23.2 30.3 16.4 3.4 4.8
5.0 23.8 20.3 6.7
Socialist countries of Eastern Europe and Asia 974 2.9 0.8 30.0
973 3.7 14.5 30.5
4.5
Developing countries, excluding Liberia,
Panam a, Singapore, ^onralia. . . . . . . 974 6.0 4.3 3.0
973 6.0 3.7 1.7 6.0
7.3
O f which:
in Africa . . . . . . . . . . . . . . . 974 0.5 0.2 0.8
0.4 0.2 0.8
9‫ﻗ آل‬ 0.4 0.1 0.5
in A s i a .............................................................. 974
973 1.7
0.7 5.4
in Latin America and the Oaribbean ‫ ة‬7‫آل‬ 1.9 3.0
973 1.0
3.0 0.3
Other—unallocated 974 0.4 0.2 0.5 0.9 0.4
973 0.5 0.3 0.6 1.0 0.4
0.5 0.1 0.7

Source ; C om piled fro m L lo y d ’s R egister o fS h ip p in g .- Statistical Tables (L o n d o n ), 1965, 1973 a n d 1974, an d su p p lem en tary in fo rm atio n o n tlte U n ite d S tates R eserve
fleet a n d th e U n ite d S tates a n d C a n a d ia n fleets.
‫ ﺀ‬R xeludin^, respectively, in 1965, 1973 a n d 1974:
(!) U n ite d S tates R eserve fleet o f ab o u t 10.4, 2.5 a n d 2.0 m illion grt.
(ii) U n ite d S tates G re a t L akes fleet o f ab o u t 2.0, 1.7 a n d 1.7 m illion grt.
(iii) C an a d ian G re a t L akes fleet o f a b o u t 1.2, 1.5 a n d 1.5 m illion grt.

٠ G re a n d b u lk ca rriers o f 6,000 g rt a n d m ore, including co m bined ore/o il a n d o re/b u lk /o il carriers; co m b in ed carriers am o u n ted in :
1974 to ‫ﻣﺤﻤﺢ‬،‫ر‬sbips w ith a to ta l to n n ag e o f 2 2 , 0 3 2$ ‫ج‬,‫ أ‬g rt;
1973 to 349 ships w ith a to m l to n n a g e o f 19,53S,?46 g rt;
1965 to 90 ships w ith a to ta l to n n a g e o f 2 , 5 , 0 0 0 ‫ ﻟ ﺔ‬g rt (U N C T A D secretaria t’s estim ate).
‫ ه‬T his ca tegory includes passenger/cargo vessels (b o th liner a n d tram p).

10
A lthough the share o f the group was co n stan t between 2. Changes by types ٠/ vessel and groups o f countries
1973 an d 1974, w ithin it the share o f tonnage under the
28. It can be seen from table 6 tb a t from 1973 to 1974
fiags o f open registry countries increased from 23.2 per
there was a farth e r Increase in the relative im portance
cent in 1973 to 24.3 per cent in 1974.
o f tankers and bulk carriers in to tal w orld tonnage, while
24. T he p opularity o f fiags o f open registry countries the dow nw ard trend in the relative share o f general
has continued to grow. ® A t m id-1974 a to tal o f 74.5 mil- car §0 tonnage persisted. W ith regard to the shares o f
lion g rt was registered u n d er these fiags; this shows an groups o f countries in the d i^eren t types o f vessels, the
increase o f 12.9 per cent over the previous year. T rade trends observed between 1965 and 1973 persisted in 1974.
unions are becom ing increasingly reluctant to accept this
29. The com bined share o f flags o f developed m arket-
move tow ards fiags o f open registry countries.®
econom y countries, countries o f southern E urope and
25. W ithin the group o f open registry countries, the open registry countries, in w orld tanker tonnage increased
share o f Liberia declined fu rth er from 75.6 p er cent in slightly from 1973 to 1974 while their share in bulk carrier
1973 to 74.2 per cent in 1974, b u t a t a m uch slower pace tonnage declined by 0.9 per cent. As a t 1 July 1974,
th a n from w hen it was 79.3 p er cent, to 1972, 1973, while 92.6 per cent o f tan k er tonnage and 92.3 per cent
the share o f the fiag o f Singapore increased from 1.5 per o f ore and bulk carrier tonnage (including com bined
cent in 1972 to 3 per cent in 1973 an d 3.9 per cent in 1974. carriers) was registered under the fiags o f these three
26. T he share o f w orld tonnage und er the fiags o f the groups o f countries.
socialist countries o f E astern E urope an d A sia rem ained 30. O n the other hand, their com bined share in
unchanged from 1973 to 1974. general cargo vessels declined by 1.3 per cent from 1973 to
27. T he share o f fiags o f developing countries also 1974, and their share in container tonnage decreased from
rem ained unchanged in term s o f g rt during the same 98.3 per cent in 1973 to 97.6 per cent in 1974 to the beneht
period, although a very slight increase (0.1 p er cent) has o f socialist countries w hose share in container tonnage,
been recorded in their share in term s o f dw t. The per- although still very small, increased from 0.1 per cent in
centage share o f developing countries in the w orld fieet 1972 to 0.8 per cent in 1974. A ll barge-carrying vessels
in term s o f dw t w as: ١٠ and virtually all vehicle carriers continued to be registered
1970 1971 1972 1973 1974 u nder the fiags o f developed m arket-econom y countries.
(P ercentages)
31. A p a rt from their increased participatio n in
A s i a .................................................. 4 0 3 .3 33 3.0 3.0 container tonnage, ١١ some o th er signihcant changes have
A f r i c a ............................................. 0 3 0.3 0.3 0.3 0.4
been recorded in the percentage shares o f fiags o f socialist
Latin America attd Caribbean . ٠ 2.6 z.z 2.1 2.0 2.0
countries o f Eastern E urope an d A sia in the w orld fieet
Total developing countries 6.9 5.8 5.5 5.3 5.4 by type o f vessel betw een 1973 and 1974 and in earlier
years. T he percentage shares by type o f vessel were
In 1974, for the first tim e since 1970, the share o f as follows : ١‫؛‬
developing countries did n o t decline. T he years to come
٠ // O rejbulk eral C ontainer O ther Share ٠/ (،>،،>/
will show w hether this declining tren d has been checked. ta n kers carriers cargo ships vesseis w o rld fieet
H ow ever, durin g the first fo u r ^ears o f the Second (Percentages)
U nited N atio n s U evelopm ent U ecade, n o t only have 1971
. . . . ٠ 4.4
developing countries been unable to increase their share 1972
. . . . . 13.9 0.1 4.2
30.7 8.7
in w orld m erchant fieet tonnage b u t their share as a 1973 ...٠ 14.5 — 3.7
30.5
. 8.3
group has declined from 6.9 p er cent in 1970 to 5.4 per 1974. . . . . 15.7 0.8 3.6
30.0 8.3
cent in 1974. Similarly, in respect o f tonnage according
to types o f vessel n o significant changes have occurred T he tendency to increase activities in the field o f bulk
in the position o f developing countries, as can be seen carriers can again be observed.
from sub-section 2 below.
32. Table 7 shows the share o f developing countries
‫ ﺀ‬It is reported that Japanese shipowners are increasin ‫? راة‬ by type o f vessel, container ships and general cargo
starting operations under the fla^s o f open registry eountries. They tonnage, also the relative shares o f the various regions
are, for example, increasingly makin§ use of the possibility of w ithin the group o f developing countries by type o f
transferring or registering tonnage under such flags and o f chartering vessel in 1974, as com pared with selected earliers years.
back the ships. According to a survey o f the Japanese ^^inistry
o f Transport a total of 1,145,‫ ﺳﻢ‬grt was operated under such It can be observed from the table th a t the trends noticed
conditions at the end of M arch 1974 (Japan Maritime Gazette in earlier years persisted in 1974.
(Tokyo), June 1974.)
It is also reported that about 200 vessels aggregating 1.2 million 33. F o r instance, the share o f developing countries
tons are currently registered by shipowners in the fed eral Republic in general cargo tonnage continued to increase during
of Uermany under flags o f open registry countries. These ships 1974, although in absolute term s general cargo tonnage
are mainly in the size range o f 6,000 to 7,000 tons and are especially under the flags o f developing countries rem ained constant
labour-intensive (Shipping and Trade News (Tokyo), 12 August 1974).
‫ ﺀ‬It has been reported that, in an attem pt to improve relations
with the trade unions and to improve the negative image of the ١١ Container tonnage nnder the flag o f the USSR increased from
Uyprus fleet, a Uyprus Shipowners’ Association has been founded. 7 vessels of 35,2flO grt in 1973 to 9 vessels of 48,156 in 1974 (Lloyd's
(Lloyd’s List (Lobdon), 15 June 1974, and Shipping and Trade News Register o f Shipping : Statistical Tables (London), 1973 and 1974).
(Tokyo), 19 June 1974.) ١‫ ؛‬D ata derived from table 6, except for 1972 and 1971 data
١٠ Derived from L loyd’s Register o f Shipping : Statistical Tables which are derived from Review ٠/ maritime transport, 1972-1973
(London), various issues. (op. cit.), table 7‫م‬

11
 T able 7

Percentage share of developing countries in the world fleet by type of vessel, 1965 and 1971-1974
(In g rt)

1965 1971 1972 1973 1974

T ype o fs h ip C ountries (Percentages)

Tankers T otal developing countries

O f which:
in Africa . . . . . . . 0.1 »? 0.2 »? 0.2
in A s i a ............................. 0.7 1.6 1.3
in Tatin America. . . . 3.0 2.0 1.9
©re a^d bulk carriers, including combined
c a rr te rs .............................................................. Total developing countries 4.3 4.3
O f which:
in Africa . . . . . . . 0.1
?»
‫؛‬:‫ة‬
in A s i a ............................. 2.7
in Latin America. . . . 0.3 1.1 1.0

©ontainer ships Total developing countries 2.0 1.7 1.6

O f which:
in Africa . . . . . . .
in A s i a ............................. 2.0 1.7
in Latin America. ٠ . .

General cargo slri^s Total developing countries 12.0 13.0

O f which:
in Africa . . . . . . . 0.3 0.9 1.0
in A s i a ............................. 3.4» 6.9 7.0 7.3
in Latin America. . . . 4.2 4.3 4.3

Other ships Total developing countries 3.7 6.0

O f which:
in Africa . . . . ٠ ٠ ٠ 0.9 0.8 0.8 0.8
in A s i a ............................. 2.4 2.4
in Latin A!rrerica. . . . 2.4 3.0

S o u rc e : T a b le 6, except fo r th e years 1971 a n d 197^, th e d a ta fo r w hich w ere derived fro m Review o f m aritim e transport, 1972-1973 (op. c it.) , ta b le i
Less th a n 0.05 p er cent.
‫ ظ‬R efers to “general cargo ships” a n d “o th e r ships” .
٥ See figures fo r “general carg o ships” .

at 8.7 m illion grt. Therefore, the increase in their have n o t been able to ad ap t their fleets to world trends
share is due to the contraction in w orld general cargo in seaborne trade, w hich favonred oil and d r ‫ ?؛‬bulk
tonnage, © n the oth er hand, although liner shipping cargoes m ore th an an ‫ ?؛‬.other cargoes
has in recent ‫?؛‬ears been undergoing a process o f change
W hile the share o f tan k er tonnage ow ned b .35 ‫?؛‬
which has led to dom ination o f m an‫ ?؛‬o f the m ajor liner
developing countries as a group has rem ained unchanged
trades b‫ ?؛‬u n it load vessels, the participation o f devel-
over the last three ‫?؛‬ears and has actuall ‫ ?؛‬declined since
oping countries in this new t‫?؛‬pe o f tonnage is still negli-
and the share o f bulk carrier tonnage has done no 1965
gible. Therefore the increase in the developing countries’
-m ore th a n return to its 1971 level, there have been im prove
share in the w orld tonnage o f genera! cargo vessels does
m ents in the relative position o f individual countries, ft
n o t m ean their increased participation in liner shipping.
can be seen from table 7, however, th a t the com m ents
34. T he participation o f this group o f countries in m ade in the preceding paragraphs on the participation o f
tan k er tonnage rem ained unchanged in 1974, b u t their developing countries in w orld tonnage are also general !‫?؛‬
share o f bulk carrier tonnage returned to the 1971 level valid w ith regard to the regional groups o f developing
o f 4.3 per cent after having fallen in 1972 and 1973. .countries
A lthough this is an encouraging sign, the share o f devel-
Some indications o f possible future im provem ents .36
oping countries in the w orld tonnage o f tankers and d r‫?؛‬
in the t ‫؛‬ ? pe com position - o f the fleets o f developing coun
bulk carriers rem ains substantial!‫ ?؛‬below their to tal share
tries are discussed in chapter III below. U owever, it
o f w orld tonnage, and this shows th a t to date the‫?؛‬
rem ains to be seen w hether these developm ents will
‫ ﺀأ‬Lloyd’s Register ٠/ Shipping : Statistical Tables (London), increase the share o f developing countries in world
!974. tonnage b ‫ ?؛‬t ‫?؛‬pe o f vessels .
 c . Trends in types, size and age distributinn
1. Trends in types
37. The long-term tren d tow ards specialization o f
tonnage has continued in the period 1973-1974.
38. Table 8 shows in m ore detail the trends in the
com position o f the w orld m erchant fleet by different types
o f vessels from 1973 to 1974, an d also in the period
197‫ه‬- 1974 ‫ م‬It can be seen from the table th a t there
continues to be diversiflcation o f w orld tonnage in
response to a grow ing dem and fo r specialized tonnage in
w orld trade, an d also in response to the necessity for
carriers to seek versatility a n d /o r efficiency th ro ug h spe-
cialization an d ado p tio n o f technological advances.
39. It can also be seen from the table th a t higher
rates o f expansion have been recorded in 1974 for vehicle
carriers, barge carriers, chem ical carriers, com bined
carriers, oil tankers, and ore an d b u lk carriers, in th a t
order. Surprisingly enough, th e increase in liquefied gas
carrier tonnage has been m oderate (6.1 per cent), while
container ship tonnage increased by only 6.6 per cent
as against a corresponding increase o f 36.9 per cent i^
1973. T he com inuing decline in the w orld tonnage o f
general cargo, miscellaneous cargo an d passenger vessels
is signiflcant. T he decline in passenger tonnage is
hkely to continue as vessels are retired because their
operation is uneconom ic a t curren t bu n k er prices.
2. Trends in size ،٠
40. The average size o f different types o f existing
ships and the average size o f vesseis on order for 1974 as
com pared with 1973 and 1972 are show n in table 9. It can
be seen th a t the tendency fo r the size o f vessels—p arti-
cnlarly o f tankers and o f bnlk carriers—to increase in
recent years persisted in 1974. Nevertheless, the d a ta
on the average size o f vessels on order in 1974 suggest
th a t in the next few years the tendency to bnild even larger
tankers and bulk carriers is likely to slow down.
41. The d ata on the average size o f vessels in service
do n o t fully reflect the rap id and continuing changes in
the actual size o f vessels built, particularly w ith regard
to the distribution o f tonnage by si^e groups o f vessels.
F o r example, in 1974 a b o u t 52.3 per cent o f tan k er
tonnage was in the size group o f 80,000 dw t and above,
as com pared with 47.2 per cent in 1973 and only 4 per
cent in 1965. The share o f tan k er tonnage o f 200,000 dw t
and above increased from 30.6 per cent in 1973 to 36.1 per
cent in 1974. Sim ilar trends have been observed w ith
regard to the size o f bulk carrier tonnage. In mid-1974
9.6 per cent o f the ore and bulk carrier tonnage and
74.2 p er cent o f the com bined carrier tonnage in service
were in the size group o f 80,000 dw t and over as com pared
w ith 8.6 per cent and 71.3 per cent, respectively, in 1973.
‫ ﺀأ‬The discussion is based on data derived from ‫ﺀ‬/،‫ ﺀ’ ﻣﺤﻤﺮ‬Register
٠/ Shipping: Statistical Tables (London), corresponding issues
uniess otherwise stated.

T able 8

Analysis “ o f worid ‫ا‬ ‫ا‬ by principal types i■ the period 1970-1974

(In 1,000 grt)

Percentage
change
1970 1971 1972 1973 1974 1973Ц 974

Oil tankers...................................................... 146‫؛‬, 96,141 165,129 129,491

Liquefled^as carriers، . . . . . . . . ,356 1,622 1,887 2,415
€lremical c a rrie rs......................................... 451 557 551 748 14.7
Miscellaneous tankers . . . . . . . . . 126 115 122
Bulk/oil c a r r i e r s ......................................... ;,317 16,673 15,673
Ore and bulk carriers . . . . . . . . . ;,334 43,124 48,415 53,110 57,403
Oeneral car^o (including passenger cargo) 396‫؛‬, 71,931 76,591 68,674
Miscellaneous cargo slri^s . . . . . . . 547 574 381
?o n tain er ships (fully cellular) . . . . . ,968 2,781 4,316 6,291
Barge-carrying vessels . . . . . . . . . 484 ъьъ 666 17.8
Vehicle carriers ......................................... 359 469 36.6
Fishing factories and carriers 1
',864 9,637 9,626 16,275 16,683 4.6
Fishing (including trawlers) ‫ر‬
Fassenger l i n e r s ......................................... ,991 3,662 3,361 2,851 -1 3 .6
Ferries and other passenger• vessels . . . 3,787 4,189 4,341 3.6
All other v e s s e l s » ..................................... ,799 8,335 4,281 4,562 4,756 5.5

S o u rce: L lo y d ’s R egister o fS h ip p in g : Sta tistica l Tables (L o n d o n ), 1970-1974.

٠ The presented In th is ta b le a re n o t co m p arab le w ith th e d a ta in ta b les 4 a n d 5, b ecau se th e U n ited $ ta tes R eserve fleet a n d th e U n ite d $ ta tes a n d C an a d ian
G re a t L akes fleets a re included in th e d a ta in th is table.
١١T h e te rm “l^ u e fle d gas ca rriers” refers to ships capable ٠٢ tra n sp o rtin g ‫ل‬i٩u id n a tu ra l gas (L N G ) o r liq u id p etro leu m gas (L ? G ) o r o th e r sin^ilar h y d ro carb o n an d
chem ical p ro d u cts w hich a re all ca rried a t pressures g re a te r th a n atm o sp h ere o r a t su b -am b ien t te m p eratu re o r a co m b in atio n o f b o th .
٠ In cluding livestock carriers, supply ships a n d tenders, tugs, cab le ships, dred g ers, icebreakers, research ships a n d others.
 T able 9

Trends in ‫ ؛‬of world fleet by selected types of vessels, 1972-1974

1972 1973 1974

Oil tankers of 100 grt and above in grt 16,270 17,460 19,083
Equivalent average size in d w t 29,016 31,740 33,136
Ore/bulk carriers of 6,000 grt and above (including bulk/oil
carriers) in g r t 20,830 21,990 22,733
Equivalent average size in d w t 33,203 37,330 38,832
©ontainer ships of 100 grt and above ‫ ط‬grt . . . . . . . 13,810 14,970 13,270
Liquefled gas carriers in g r t 3,370 6,090 6,032
All other ships of 100 grt and above ‫ ط‬g r t . . . . . . . . 1,980 1,920 1,870

E stimated average si^ es oe vessels on order

A t end o f A t en d o f A t en d o f
1972 1973 1974
Estimates ٠/.•
Tankers of 10,000 dwt and above in dNvt 163,720 170,370 162,414
Ore/bulk carriers of 10,000 dwt and above in dwt . . . . . 63,020 33,830 33,209
©ontainer ships in dwt (vessels of capacity of 300 or nrore
co n ta in e rs) 18,380 17,090 18,783
Liquefled gas carriers in dwt (vessels of 12,000 dwt and over) 26,330 31,620 33,123
All other ships o f 1,000 grt and above in d w t . . . . . . . 9,670 9,820 10,497

Sources ; E x istin g fle e t; estim ated b y th e U N C T A Ü secretariat o n th e b asis o r d a ta p u b lish ed in L lo y d 's R egister ٠/
Shipping ; ‫ﺀك‬،‫ ا‬،،‫ﺀ‬،،'‫ ﻣﺢﺀ‬Tables (L o n d o n ), 1972-1974.
N ew O rd ers: estim ated by th e U N C T A D secretaria t fro m d a ta given in E earn ley a n d E gers C h arterin g C o . L td .,
1974 , ‫( ﺀ« ﺀﺀ^ ﺀﺀ‬O slo, 1974), fo r oil ta n k ers, bull، earriers a n d o th e r sh ip s; size estim ates o f co n tain er ships ' " gas
ca rriers w ere based o n d a ta given in W orld Sliip s ٠« Order, su p p lem en t to ‫م‬،‫؛‬،< ‫ ﺀ‬/»‫ م‬International Shipping Journal, N o v em b er
issues o f years 1972-1974.

T able 10

‫ ؛‬distrlbutinn of world merchant flee! by type of vessel as at 1 July !974

(Percentage o f total tonnage (grt) o f each group)

0-4 5-9 10-14 ) years

T ype o f vessel T otal yea rs y e a rs yea rs Id over

W orld t o t a l .......................................................... All vessels 22

Tankers 19
^ u lk carriers
©eveloped market-economy countries (ex-
eluding southern Europe) . . . . . . . All vessels 14
Tankers
Bulk carriers
Southern E u r o p e .................................................. All vessels
Tankers 29
Bulk carriers
Open registry c o u n tr ie s ......................................All vessels 30
Tankers 27
Bulk carriers
Total o f all three g ro u p s......................................All vessels
Tankers 18
Bulk carriers
Socialist countries of Eastern Europe and
A sia.......................................................................All vessels 21
Tankers 20
Bulk carriers 10
Oeveloping countries * ......................................All vessels 30
Tankers
Bulk carriers

S o u rce: L lo y d ’s o f Shipping : Sta tistica l Tables (L o n d o n ), 1974, an d su p p lem en ta ry in fo rm atio n p ro v id ed to

tire seeretariat o f U N C T A D by L lo y d ’s R eg ister o f S hipping.
* T h e d a ta fo r th e age d is trib u tio n o f developing co u n tries refer to all developing co u n tries a n d hence a re n o t com -
p arab le w ith th e d a ta presented in R eview o f m aritim e transport, 1972-1973 (op. cit.)y ta b le 11.

!4
 3. Trends in age distribution
42. T he age distribution o f the w orld m erchant fieet
in mid-1974 by groups o f countries an d by type o f vessel
is show n in table 10. I t can be observed th a t the rela-
tively younger fieets are to be found in developed m arket-
econom y countries.
43. In the period 1973-1974 the age com position o f
the w orld fieet rem ained fairly constant, © f to tal w orld
tonnage, in 1974 38 p er cent was less th a n five years old
as against 39 per cent in 1973١.‫ ؛‬T he share o f tonnage in
the age bracket o f 15 years an d over increased slightly
from 21 p er cent in 1973 to 22 per cent in 1974.
44. In 1974, as in previous years, the tonnage registered
under the fiags o f developed m arket-econom y countries
had th e largest prop o rfio n o f vessels less ^ a n five years
old. As in 1973,45 per cent o f the fieets o f these countries
were in this age bracket. A t the other end o f the scale,
i.e., vessels o f 15 years o r older, 14 p er cent in 1974
(15 per cent in 1973) o f th e tonnage und er the fiags o f
developed m arket-econom y countries was in this age
bracket. I t can also be seen, however, th a t the age
com position o f th e fieets o f developed m arket-econom y
countries diners significantly from the age com position
o f fieets o f southern E uro p ean countries an d o f those
sailing und er the fiags o f open registry countries, ©nly
31 per cent o f the fieets o f southern E uropean countries
and 37 per cent o f the fieets o f open registry countries were
less th a n five years old. © n th e o th er hand, 31 p e rc e n t
o f the tonnage und er fiags o f countries o f southern
E urope an d 2 ‫ ه‬p er cent o f tonnage und er fiags o f open
registry countries were 15 years or older. I t appears
th a t th e reason for the significant di^erences in the age
com position o f the tonnage registered in developed
m arket-econom y countries on the one h an d an d in the
countries o f southern E urope an d o f open registry
countries on th e oth er m ay be due to the fact th a t the
latter countries have com parably low er lab o u r costs,
thus enabling owners to m aintain und er these fiags older
vessels—w hich are lab o u r intensive— in operation.
45. In 1974, only 23 p er cent o f the fieets o f socialist
countries o f E astern E urope an d A sia were below five
years o f age as com pared w ith 27 p er cent in 1973 and
38 per cent o f the w orld average, ©n the o th e r hand,
21 per cent o f the tonnage o f this group o f countries were
15 years o r older as against 18 per cent in 1973.
46. Finally, 3‫ ه‬per cent o f the fieets o f developing
countries were less th a n five years old, which is substan-
tially sm aller th a n th e w orld average (38 p er cent), while
30 per cent o f their tonnage belonged to the bracket o f
15 years a n d over, w hich again was m uch less favourable
th an the w orld average (22 per cent).
47. W ith regard to the age com position o f di^erent
types o f vessels it can be seen th a t 47 p er cent o f bulk
carrier tonnage is u nder five years o f age (48 per cent
in 1973) while the percentage fo r tankers in this age
bracket was 43 p er cent in 1974 (42 per cent in 1973).
© n the oth er hand, th e share o f bulk carriers an d tankers
o f 15 years o r older on the corresponding to tal fieets was
١٠ ^ o r 1973 figures used rhroughou‫ ؛‬the discussion in this sub-
seetion, see Review ٠/ maritime transport, 1972-1973 (op. ‫ﺀ'ﺀﺀ‬.‫ ر‬,
table 11.
9 and 19 per cent, respective!)?, tbe figures for 1973 being
9 and per cent.
48. G om parlng the age distribution fo r tankers o f the
various groups o f countries. It can be seen th a t the tankers
o f developed m arket-есопош)? countries and o f open
registry countries tend to be m uch younger th a n those
o f any o th er group o f countries. T he m ain reason fo r
this can be found In the com position o f sizes o f tankers
operated under the fiag o f countries o f these groups.
W hile developed m arket-econom y countries and countries
o f open registry Operate a large fieet o f U L C C s and
VLCCs, which tend to be relatively new, the partiel-
potion o f the other groups o f c o u n tie s In these types
o f vessels Is relatively small, especially In the case o f the
socialist countries o f E astern Europe and Asia, where only
13 per cent o f the tan k er fieet Is less th a n five years old.
49. The p o int m ade regarding tankers Is to a large
extent also valid fo r bulk carriers. The newest and
largest vessels are owned m ainly by developed m arket-
econom y countries, thus explaining the exceptionally
high share o f 53 p er cent fo r bulk carriers in the age
bracket o f under five years ow ned by those countries.
The share o f bulk carriers in this age group is 45 per cent
In southern E uropean countries, 42 per cent in open
registry countries, 44 per cent in developing countries
and 28 per cent in socialist countries o f E astern E urope
and Asia. Owing to the com paratively late emergence o f
specialized bulk carriers, only very sm all proportions
o f bulk carriers are in the age group o f 15 years o r over.
50. O om paring the age distribution o f the fieets
o f developing countries w ith th a t o f the to tal w orld fieet,
it can be seen th a t the developing countries’ fieets are
substantially older. This occurs in spite o f the very
favourable age com position o f their bulk carrier tonnage
and the relatively good age com position o f their tanker
tonnage. Gbviously it is the age com position o f other
th a n bulk carrier and tan k er tonnage, in w hich general
cargo tonnage is included, w hich creates this unfavour-
able picture.
D. The productivity of shipping space
51. T he developm ent o f productivity o f tankers o f
10,000 dw t and above and o f bulk carriers o f 18,000 dw t
and above m easured by the num ber o f ton-m iles o f
cargo carried per year per deadw eight to n o f the existing
active fieet is given in tables 11 and 12.
52. T here was a tendency fo r tanker productivity
to increase in 1973, w hen it rose by 4 points relative to
1972, while b u lk carriers productivity rem ained un-
changed. This tendency is unlikely to persist in 1974,
in view o f the corrective action taken by tanker operators
in response to the reduced dem and for tanker tonnage
resulting from the new energy situation. ١®
53. I t is n o t possible to com pute productivity figures
fo r the total w orld fieet sim ilar to those fo r oil tankers and
bulk carriers. Table 13, however, gives an index based
on the num ber o f tons o f cargo carried per dw t o f the
total w orld fieet. After• having dropped in 1972 to the
١٠ See para. 137 below.
 T able
Estimated ton-miles of oil shipments per dwt, in 1962-1973, by oi! tankers “ of 10,000 dwt and abo^e ‫ﺀ‬

E stim a ted
ton-m iles
o fo illg ra in
Total shipm ents T otal Ton-miles In d ex o f
O il Grain oiljgrain (thousand T otal active p er active a ctiveflee t
shipm ents shipm ents shipm ents m illion productivity
Year (m illion tons) (m illion tons) (m illion tons) ton-m iles) (m illion d w t) (m illion d w t) (in thousands) (1962-= 100)

Source ; C om piled o n th e basis o f F earn ley a n d E gers C h arterin g C o. E td ., Review , 1974 a n d W orld B u lk Trades, 1973 (O slo, 1974).
٠ E stim ated grain shipm ents in ton-m iles h ave been included.
‫ ﺀ‬Since oil a n d g rain shipm ents o f oil ta n k ers— e.g. excluding com b in ed ca rriers— on ly a re ta k e n in to co n sid eratio n , th e figures are n o t directly co m p arab le to th o se
reco rded in R eview o fm a r itim e transport, 1972-1973 (op. c it.), ta b le 12, a lth o u g h th e tre n d d id n o t change.
٠ R evised figures.

T able
Estimated ton-miles of bulk commodities carried per dwt,، between 1967 and 1975
by bulk carriers, including bulk/oil carriers of 18,000 dwt and above

E stim ated
ton-m iles ٠/
b u lk cargo
carried,
Total including ٠// T otal Ton-m iles In d ex o f
b u lk ٠٠٢^٠٠ (thousand Total a ctive p e r active a c tiv e fle e t
B u lk cargo ٠ // cargo including ٠// m illion ‫ﺀﺀﺀم‬ dwt p roductivity
Year (m illion tons) (m illion tons) (m illion to n s) ton-m iles) (m illion d w t) b (m illion d w t) (in thousands) (1960 = 100)

967. 29
‫ج‬ 1,330 33.2 33.2 40.1 119

‫أة‬
968. 54 1,903 44.0 44.0 43.3 128
969. 374 433 2,2^5 53.3 53.3 41.7 1^3
970. 439 500 2,636 ‫ ة‬2.2 62.2 42.4 125
971. 97 555 3,043 72.8 72.5 42.0 124
972. 3,632“ 87.9 86.6 42.0 124
973. 613 166 779 4,411 106.1 105.4 41.9 124

Sources ; C om piled o n ‫؟‬١ ‫ ؛‬١ basis o f F earn ley a n d Egers C h arterin g C o. L td ., Trades ٠/ W orld B u lk Carriers, 19fi9 « ٨ ٨ 1970; a n d W orld B u lk Trades, 1973 (O slo, 1974),
١ o n in fo rm atio n co m m u n ic ated by th e so u rce to t^ e U N C T A D secretariat.
“ In clu d in g oil cargoes in co m bined carriers. ، M id-year figures. ٠ E stim ated b y th e U N C T A D seeretariat. ‫ ﺀ‬R evised figure.

low est level r e o r d e d since 1961, the index recovered E. Tonnage on order
slightly and rose in 1973 to 1^5 points.
T a b le ! 3 1. General
Cargo carried ‫ا‬ • dwt of world fleet, 1967-1973
54. D uring the 12-m onth ^er!o،f ending oh 31 O ctober
W orld fle e t ‫ﺀ‬ T otal carried cargo ‫دا‬
Cargo carried
p er dw t In d ex
1974, w orld tonnage on order increased by 2.3 million
Year (m illion d w t) (m illion m etric tons) (m etric tons) (1960 = 100) dw t o r by 0.9 per cent as com pared w ith an increase o f
87.4 million dw t o r 51.3 per cent in the corresponding
967. 240.9 1,910 7.92 116
period ending on 31 O ctober 1973. T he changes in
2,107 8.04 117
2,312 8.02 117 tonnage on order betw een 31 O ctober 1973 and 31 Oc-
970. 2,605 8.00 117 to b er 1974 are given b e lo w : ‫ل‬-‫أ‬
971 ; 2.697 7.38 108
404.2 2,866 ‫ﺀ‬ 7.08 103
973. 444.6 3,190 7.17 105 ‫ ﺀأ‬Compiled on the basis o f ‫ ام^ﺀ‬-/‫ ﻣﺢ‬Ships ٠ »‫ﺀم‬-‫■ﺀﺀﻣﺢ‬, supple-
m ent to Fairplay International Shipping ‫ ا» ﻣﺮ‬-‫ س‬/ (London), various
T a k en f™ m ta b ie 4. ٠ T a k en fro m ta b ie : ‫ ا‬figure. issues.

16
 B u lk
carriers
(including
Tonnage on A ll Change Change com bined Change O ther Change
order as ‫؛‬٠ ; ships (per ce n t) Tankers (per ‫ر ﺀ»ﺀﺀ‬ carriers) (‫ • ﺀﺀم‬cen t) ships (per cent)

31 1973. . 257.9 16.4

+ 4.1 2.9 +
31 January 1974 . . 219.9 8.4 16.7
+ 1.7 + 2.0 !. ‫و‬+
30 April 1 9 7 4 . . . 273.0 223.7 8.4 10.9
-2 .6 4 .+‫ﺀ‬
31 July 1974. ٠ . . 218.0 6.4 11.4
- 0 .3 6.1 +
31 October 1974 . . 211.8 36.3

55. It can be seen from the d ata above th a t the over-
all increase in total tonnage on o rd er betw een O ctober
1973 and O ctober 1974 did n o t follow a steady p attern.
O uring the q u arter ending on 31 la n u a ry 1974 there was
an increase o f 1 5 .‫ ه‬m illion dw t (4.1 p er cent), b u t in the
following q u arter there was a distinct slowing dow n in
the rate o f increase which declined to 1.7 per cent. This
declining tre^d persisted during the next tw o quarters,
ending on 31 July an d 31 O ctober 1974 respectively,
during w hich to tal tonnage on order also declined in
absolute terms.
56. T he volum e o f tonnage ordered in the third
q u arter o f 1974 declined to the low est level recorded
since the q u arter ending in Septem ber 1972. M oreover,
the volum e o f tonnage delivered exceeded new orders
in the second an d th ird q u arters o f 1974. This points
to a distinct slowing dow n in future shipbuilding acti-
vities. ‫ﺀل‬
57. T he absolute decline in tonnage on o rd er th a t
has been observed since the q u arter ending in July 1974
was caused by a decline in the o rd er books for b o th
tankers an d bulk carriers (including com bined carriers).
By fu rth er differentiating betw een various sizes and
types o f vessels it m ay be observed th a t in the case o f
tankers there was a decline in the size g ro u p o f 150,000
dw t and over, while the tonnage in th e size group under
150,000 dw t showed a steady increase. U ow ever, this
increase was n o t strong enough to offset the decrease
in orders fo r larger-sized tankers. In the case o f bulk
carriers (including com bined carriers), th e decline was
due to decreasing orders fo r com bined carriers .‫ﺀ ل‬
2. Distribution o f tonnage by groups ٠/ countries
58. It can be seen from table 14 th a t the flags o f
developed m ark et econom y countries, countries o f
the above groups o f coutitrles, the share o f the flags
o f the three groups com bined w ould am ount to 89.1 per
cent for 1974, 9^.9 in 1973 and 9^.3 per cent in 1972.
59. Table 14 also shows th a t, in relation to the dis-
ffibution o f tonnage on order by vessel type, there h^ve
been some changes for the com bined group o f flags o f
developed m arket econom y countries, countries o f
southern Europe, open registry countries and “flag not
yet ^now n” . W hile the share o f this com bined group
fo r tankers over 150,000 dw t showed a slight decrease
from 97.2 per cent in 1973 to 94.2 per cent in 1974, their
share o f tankers in the size group under 150,000 dwt
increased further to 85 .‫ ة‬per cent in 1974 as com pared
w ith 84.6 per cent in 1973. T heir share in ore/oil and
ore/bulk/oil carriers decreased further to 80.2 per cent
as com pared with 82.3 per cent in 1973.
60. The decline in the com bined share o f the three
groups o f countries in container tonnage in 1973 was
reversed in 1974, w hen this group o f countries accounted
fo r 82.6 per cent as com pared w ith 74.3 per cent in 1973.
61. The share o f the socialist countries o f Eastern
E urope and A sia in tonnage on order was 3.6 per cent
in 1974 as com pared w ith 4.2 per cent in 1973 and 4.8 per
cent in 1972. Uowever, there is an uneven distribution
according to types o f vessel. W hile p a rt container ships
ordered by these countries accounted fo r 25.9 per cent o f
to tal w orld tonnage on order o f this type, tankers o f
over 150,000 dwt and bulk carriers accounted fo r only
0.9 and 4 per cent respectively o f the respective total
w orld tonnage on order. T he corresponding flgures for
1973 were 33.7, 0.8 and 8 per cent.
62. T here were some noticeable changes the share of
developing countries in tonnage on order in 1974. The
developm ents w ithin the different types o f vessels are
given below:
1971 1972 1973 1974

southern E urope an d open registry countries taken as Oil tankers above 150,000 dwt . . . . . 0.8 0.5 1.8 4.8
a group accounted fo r 85 p er cent o f tonnage on order Oil tankers under 150,000 d w ،. . . . . 7.2 9.4 5.1 6.9
on 31 G ctober 1974, as com pared w ith 84.2 p er cent in Ore/nil and nre/bulk/nil carriers . . . . 4.3 6.7 15.4 16.4
1973 an d 83 p er cent in 1972. The percentage on order Offier bulk carriers 6.5 9.2 10.4 9.9
recorded u n d er “flags n o t yet know n” for each o f the Full container s h i p s 1.5 1.5 1.5 1.0
corresponding years was 4.1 per cent, 6.7 p er cent and F art container s b i p s 11.1 8.4 12.4 22.2
7.3 per cent respectively. A ssum ing th a t the tonnage O ther dry cargo ships. . . . . . . . . 12.7 19.0 17.7 19.8
recorded und er “flags n o t yet know n” is for owners in
I t can be seen from these d ata th a t som e signiflcant
‫ ﺀأ‬Lloyd's Register o fS h ip p in g : Merchant Shipbuilding ^ ‫؛‬،،٢« changes occurred in the shares o f developing countries
(London), several Issnes. by types o f vessels on order. T heir continuing prefer-
١٠ F o r farther dis№ssion o f these points, see chap. ! ٧ below. ence for liner type vessels is noticeable, b u t the increase

17
 T able

World 1 ‫ ؛‬on order at at 31 October, 1970-1974

T ankers T ankers O reloil a n d Full Part

ISO,ООО d w t under orefbulkloil O ther b u lk container container O ther ٠^٢^
Groups o f countries Year A ll ships an d over 150,000 dw t carriers carriers ships ships cargo ships ‫ﺀ‬

(In million dwt)

World total 1970 132.0 65.5 11.7 20.0 20.S 10.1 ь
1971 171.6 87.0 16‫ؤ‬ 26.2 8.0 2.7 4.4
1972 170.5 93.7 19.5 2 ‫ ل‬2.
1973 155.9 52.7 2‫و‬.‫ل‬
1974 260.2 149.2 62.6 7.0 4.0

(In percentage share by type o f vessel)

World total 197© 100 49.6 2.9 ‫ه‬ 7.7،
1971 100 50.7 16.3 4.0
1972 100 55.0 14.8 11.4 1.1 2.0
1973 100 60.5 20.4 5.4 9.7 0.5
1974 100 24.1 10.4 0.7 2.4

(Percentage share ٠ ٠٧٠٢

/ ^ tonnage by groups ofcountries)
Developed market-economy
countries (excluding southern
Europe) . . . . . . . . . . 972
973
974
56.‫و‬
47.6
52.3
43.9
39.2
9.0
8.4 ‫;ة‬ 78.5
62.6
32.4
22.0
24.0
39.7
32.8
32.2
Dpen registry countries: Eiberia,
Panama, Cyprus, Somalia,
Singapore . . . . . . . . . 972 20.6 25.3 22.2 3.0 4.8 6.0
973 25.6 22.1 11.7 17.7
974 36.2 34.4 3.0 20.5
Southern Europe . ٠ ٠ . . . . 4.0 7.5 17.8 4.6
973 87 8.4 4^4 8.0 26.3
974 7.2 6.7 25.6
Socialist countries 0^ Eastern
Europe and Asia . . . . . . 972 4.8 8.0 14.2 33.1 29.9
973 4.2 0.8 9.2 24.2 ^3.8

Developing countries—total . .
974

973
‫ت‬
4.5
0 ‫وم‬
0.5 9.4
4.0

1‫ ﺀ‬4
16.4 25.2
8.4
12.4
18.3
19.0
17.7
974 4.8 16.4 1.0 22.2 19.8
O f which:
in Africa . . . . ٠ ٠ . . ٠ 0.3 0.5 5.0
973 0.3 1.0 2.4 4.6
974 0.6 0.3
Asia . . . . . . . . . . 0.5 4.5 2.0
2.5 2.4 3.7 7.2 4.4
4.4 4.2 77 77 1.0
in Latin America and the

i:‫؛‬
Caribbean . . . . . . . . 4.7
1.7 0.3 1.7 11.7
0.9 1.4 1o!4
?lag not yet known . . . . . 972 7.3 10.8 5.4 2.9 0.5 0.5
973 4.5
974 4.1 4.7 5.1 2.7

‫؛‬:‫؛‬
Dther—unallocated . . . . . . 972 0.5 0.3
973 0.4 0.2 0.9
974 0.4 0.1 0.5

S o u rce: C om piled fro m W orld Ships ٠« Order, supplem ent to Fairplay Internatiorml Shipping Journal (L o n d o n ), N o v em b er issues 0 ( 1970-1974.
‫ ﺀ‬Including general cargD vessels, b arg e carrying vessels, R o /R o vessels, vehicle carriers, p allet ships a n d ©thers.
١١In clu d in g p a rt cp n ta in e r ships.

18
in their share o f p a rt co ntainer ships on order (22.2 per
cent in 1974 as com pared w ith 12.4 per cent in 1973) is
indicative o f a m ove tow ards m ore m odern types o f
vessels, ^ i t h regard to the com bined (ore/oil and
ore/bulk/oil) carrier tonnage on order, the share o f
developing countries has increased to 16.4 per cent in
1974 as com pared w ith 15.4 per cent in 1973. F u rth er
inform ation available ‫ ؛‬٠ shows th a t In d ia an d Brazil
accounted fo r slightly m ore th a n 90 per cent o f this
tonnage. T he trad e o f b o th countries appears to offer
good chances fo r com bined operations which could help
them to reduce their tra n sp o rt costs, particularly for
products such as iron ore.
World Ships ٠ » ‫ﺀم‬-‫ ;■اﺀﻣﺢ‬Fairplay International Shipping
Journal (London), N o. 41 (November 1974).
63. A n im p o rtan t increase has been recorded in the
share o f developing countries in oi! tankers o f 150,000 dw t
and above, while their share in oil tan k er tonnage nnder
150.000 dw t has also increased b u t a t a m uch slower rate.
T e s e developm ents give evidence o f the efforts o f oil
producing countries to expand their activities in the
carriage o f the oil trade which they generate themselves.
Indeed, K uw ait accounts fo r a b o u t 40 per cent o f the
developing countries’ share o f tankers o f m ore th an
150.000 dw t on order, and for a b o u t 27 per cent o f all
tankers on order fo r developing countries (11.4 mil-
lion dwt), while Ira q accounts fo r 14.6 per cent, the
Libyan A rab R epublic fo r 6.6 per cent and Ira n for
4 per 06‫ﻣﺢ‬.‫ﻟﻖ‬
‫؛‬،١ Ibid .

19
 Chapter III

W ORLD SH IP PRICES A ND THE FLEETS OF DEYELOPINC COUNTRIES

A. Changes in priees of new vessels to the levels they reached in 1973, also In 197‫ ه‬, particularly
fo r the types o f vessels m ost in dem and. '
64. Bhipbnilding prices rose furth er in 1974 b u t the
rates o f increase differed widely for different classes and 67. A dditional evidence regarding the course o f
sizes o f vessels. T able 15 gives the developm ent o f shipbuilding prices in the hrst h alf o f 1974 as eom pared
prices from 1967 to 1974 fo r tankers an d bulk earriers w ith D ecem ber 1973 for vessels seheduled fo r delivery in
(including com bined earriers), based on actual contracts. 1976 ‫ ؛؛؛؛‬can be found below :
D ecem ber June
65. I t can be seen from tahle 15 th a t prices in U nited S ize 1973 1974 Percentage
Vessel type (d w t) (thousands o f pounds sterling) change
$tates dollars fo r all except the very large crude earriers
rose fa rth e r in 1974, b u t a t a m uch slower paee th an in D ry cargo . . 16.000 3,000 4,200 40.0
1973, w hile prices in U nited States dollars for VLCCs Bulk carrier . . 16.000 2,500 3,000 20.0
Bulk carrier . . 28.000 4,000 4,500
deelined by slightly m ore th a n 1 ‫ ه‬p er eent. As contracts 9.0
Bulk carrier . . 100,000 11,000 12,000
are usually m ade in the currency o f the country o f build Dre/bulk/oii . 170,000 18,000 20,000 11.1
now adays, the expression o f the co n tract prices in U nited Ore/oil . . . . . . 120,000 14,000 16,000 14.3
States dollars m akes it very difficult to know the extent Tanker . . . . . . 250,000 18,000 22,000 22.2
to which the price changes shown are due to changing Container ship (30"/o
eosts or to changes in exchange rates. re e ^ r container) . 2 5 ,0 0 0 1 3 ,5 0 0 2 0 ,0 0 0

66. T he high rates o f inflation in m ost shiphuiiding
countries have nndouhtedly h a d their im pact on the
evolution o f shipbuilding prices in recent years. In
addition to inflationary pressures, the boom in the
dem and fo r ships exerted pressure on steel prices and
thus eo ntrlbuted to rising eosts. However, the sharp
increases in shipbuilding prices in the last few years
should n o t be seen solely in the light o f w orld-wide
inflation an d rising eosts, b u t should also be ''
in conjunction w ith the fact th a t since 1969 shipyards
have been fully booked fo r a num ber o f years ahead, thus
enabling shipbuilders to take advantage o f a very tight
supply situation. T he very strong freight m arket eondi-
tions in 1973, which eontinned during the flrst h a lf o f
1974, w ith regard to varions types o f tonnage created a
sharp dem and fo r new buildings. U n d er such conditions
it is n o t surprising th a t shipbuilding prices were pushed
68. A ttention should be draw n to the fact th a t prices
for different types o f vessels developed d i^ re n tly .
Prices increased m uch faster for dry cargo and container
ships than fo r bulk earriers and tankers, and the di№ rence
in price m ovem ents w ithin the last tw o categories o f
vessels cannot easily be explained on the basis o f eons-
truction costs alone.
69. Tahle 16 shows the evolution o f new huilding
prices for liner-type vessels ‫ ﺀﺀ‬from 1967 to 1974. I t is
signihcant th a t from 1973 to 1974, when there was a very
Extracted from Fairplay International Shipping Weekly
(Eondon), vol. 252, N o. 4714 (4 3uly 1974).
‫ ﺀﺀ‬The Fairplay data refer to a hypothetieal closed/open shelter-
decker o f 11,000/15,000 dwt, propelled by a 7,000 b.h.p. diesel
engine giving a speed o f 15 knots. The ship is for delivery within
the year and the quoted price does not include interest on loans.

T able 15
Representative new building prices for buik carriers and tankers, f96?-19?4 *
(Prices in millions ofdollars at year ‫ﻟﻣﺢ»ء‬

1967 1969 1970 1971 1972 1973 1974

18,000dw tbu]k . . . . 3.8 4.3 4.6 5.4

30,‫ س‬4 ^ ‫ ا‬bulk . . . .
87,000 dwt tanker . . .
96,000 dwt D B D . . . .
4. 9
9.0
10.0
5. 4
9.4
11.0
5. 7
10.0
12.0
‫ة‬
23.0
17.3
7.5
15.0
2‫ ل‬0.
12.‫م‬
25.9
29.0
16.5

210,000 dwt tanker . . . 14.7 16.6 19.0 31.0 31.0 47.0 42 ‫ﻫﻢ‬

S o u rce: F earn ley a n d E gers C h arterin g c©. L td ., Review , 1974 (C slo , 1974).
* F o r th e years 1963-1966, see Review o fm a r itim e transport, 1972-1973 (op. ، ta b17
le .:

20
high dem and for this type o f vessel, the increase in prices steel prices. Generally, steelm akers felt uncertain ab o u t
is estim ated a t 55 p er cent. Such a high percentage tire industry’s prospects in 1975 ‫ ﺀﺀ‬and there appears to be
can n o t be explained w ithout including the boom in the little d o u b t th a t the boom in the steel industry and steel
dry cargo freight m arket (see table 28) as the m ost prices have reached their peak. I t is fo r such reasons
im p o rtan t causal factor. T h a t current levels o f ship- th a t certain observers felt th a t there w ould soon be a
building prices have been strongly infiuenced also by retu rn to fixed prices fo r building berths rem aining open
m arket factors is fu rth er supported by the evidence fo r 1976-1977 . ‫ﺀﺀ‬
(table 15) th a t shipbuilding prices fo r ¥ L C G s dropped
a t the end o f 1974 despite accelerating infiation pressures.
В. Changes In prices of second-hand vessels
T able 16
7 ‫ ﻣﻪ‬The course o f prices fo r second-hand, tanker,
Estimated prices for new and ready liner-type vesseis bulk carrier an d liner type vessels is given in tables 17, 18
11,000/13,000 dwt, 1967-1974 and 19 respectively.
71. © uring 197d the m arket fo r second-hand tonnage
C losed
P r ic e s fo r shelter- has been characterized by significant di^erences in the
constructing decker level o f activity, depending b o th on the tim e o f transaction
M id -Y ea r new vessels per dw t Change
(pounds sterling) (percentage)
and on the type o f tonnage. G enerally, there has been
a relatively lim ited am ount o f tonnage fo r sale, particular-
.................................................. 1,095,500 84.25 ly in the case o f bulk carriers and shelter-deckers, the
6 ‫ام‬ dem and for which has rem ained a t very high levels . ‫ﺀﺀ‬
. . . . . . . . . . . . . 1,165,000 89.60 7^. By com paring the d ata given in tables 17, 18 and
3 ,‫ا‬
19 w ith the d a ta on the developm ent o f freight rates
- - 1,200,000 92.10
given in chapter ٧ it can be see© th a t the prices o f second-
................................................. 1,350,000 100.80 han d vessels are strongly infiuenced by m ovem ents in the
18.: levels o f freight rates. ‫? أﺀ‬rices for all types and sizes o f
٠. . . . . . . . . . ٠ 1,600,000 . 123.00 tankers had fallen sharply by th e e n d o f 197d as com pared
18.: w ith 1978, whereas fo r bulk carriers they had rem ained
- - - - - - - - - - - - - 1,900,000 146.15 stable and fo r liner type vessels h ad fu rther increased.
18.. It can be observed from tables 20 and 21 th a t the prices
. . . . . . . . . . . . . 2,250,000 165.38 fo r bulk carriers o f 88,000 dw t and shelter-deckers of
55..
. . . . . . ٠ .٠ .٠ ٠ 3,500,000 . 269.23
‫ ؛‬٠ See M etal Bulletin ; World Steel and M etal News (London),
S o u rce: Fairplay International Shipping Journal (L o n d o n ), m id-year issue, N o. 5933 (18 October 1974), p. 31, where the annual meeting o f the
; Ju ly 1972, ^8id-year issue, 5 July 197$ a n d m id-year issue, 4 July 1974. International Iron and Steel Institute is reviewed.
٠٠ See Lloyd’s List (London), 5 November 1974, p. 3, where a
report by the Norwegian firm p .p . Bassoe A /s is reviewed.
G n the other hand, cancellations o f new orders o f drop-
‫ ءء‬Shipping World and Shipbuilder (London), vol. 167, No. 3895
ping o f b erth reservations, leaving gaps in the p roduction (July 1974).
program m es, particularly o f medium -size yards, tend to ‫ أﺀ‬Bowever, in the short term this link may be somewhat less
ease dem and for steel and this in its tu rn should infiuence clear than it is in the long term.

T able 17
Tankers: second-hand prices, average values
/ ‫ءم‬-‫ ءءء'ء‬in millions ‫م‬/‫ ﻫﻣﺢ‬//،‫ءأ‬-‫ ء‬at end ofyea r)

dw t Built 1970 1971 1972 ‫ﺀا‬/‫ل‬ 1974

15/16,000 ............................. . . . . . . 1951/52 0.9 0.5 0.4 1.5 0.5

18,‫س‬ ................................. . . . . . . 1952/53 1. ‫ت‬ 0.8 0.7 1.9
19/20,000 ............................. . . . . . . 1959/60 3.3 2.0 2.0 4.0
25,000 ................................. . . . . . . 1958/59 4.0 2 .2،‫؟‬.)<
2 .2
35,000 ................................. . . . . . . 1958/59 6.0 3 .5 3 .5 7 .5 3.5
50,000 ................................. . . . . . . 1963/64 10.0 7.0 6.0 13.0
60,000 ................................. . . . . . . 1964/65 12.0 8.5 7.5 16.0
80,000 ................................. . . . . . . 1966/67 19.0 12.0 10.5 25.0
100,000 ................................. . . . . . . 1967/68 26.0 16.0 13.5 30.0 11.0
200,000 ................................. . . . . . . 1969/70 40-45 30.0 30.0 52.0 23.0
300,000 ٠ ٠ ٠ . ٠ ٠ . .٠ . . . . . . 1971/72 42.0 78.0 36.0
- -

S o u rc e : F earnley a n d E gers C h arterin g C o. L td ., R eview , 1974 (C slo , 1974).

N o t e : T h e ^riee$ a re m a rk et-v alu e estim ates a t existing exchange rates fo r a charter■! ‫ ؛‬ta n k e r in g o o d c o n d itio n
a n d w ith fairly p ro m p t delivery o n cash basis.
 T a b l e 18

Dry bulk carriers: second-hand prices, average vaines

(Prices in millions o f dollars ٠‫ ؛‬end o fyea r)

dw t 1969 ‫ﺀا‬/‫م‬ 1971 1972 1973 1974

18,000 963 2.1

25,000 4.8 3.1 4.1 7.2
35,‫س‬ 965 4.0 4.2 6.0 3.7 4.9 9.0
50.000 967 5.0 5.2 9.0 5.7 7.0 11.5 13.0
60.000 972 — — 11.0 17.0 17.0

S o u rc e : A s fo r ta b le 17.
N o t e : T h e prices a r e m a rk et-v alu e estim ates a t existing exchange rates fo r a ch arter-fi ‫ ؛‬vessel in g o o d c o n d itio n and
w ith fairly p ro m p t delivery o n ca sh basis. B u lk ca rriers o f 50,000 d w t a n d ov er are gear

T able 19

Liner-type vessels: second-hand pvlces, average vaines

(Prices in millions ofdollars at end o f year)

dw t Built 1969 1970 1971 1972 1973 1974

6,600 19580.880.891.00.79
1‫ ة‬50‫ م‬٠ ٠ . . . . . . ٠ .. 1956 1.4 1.4 1.5 0.85 0.95
13,500 19591.61.61.71.2
16,000 3.42.3
19632.42.83.0

S o u rce: ^ s fo r ta b le 1?.
N o t e : T h e prices are m a rket-vaiue estim ates a t existing exchange rates fo r a ch arter-ft Î vessel in g o o d co n d itio n an d
w ith fairly p ro m p t delivery on cash basis.

T able 20

The course of the estimated h-eight rates * and second-hand values

for a 38,000 dwt bulk carrier built in 1966
(1,650,000/1,750,000 cubic feet with cranes)
(Values in thousands ofdollars)

1972 1973 1974

Freight rate Freight rate Freight rate

A s ،،/ end ٠/; (doiiars) Value ) ‫ س‬/،،‫رﺀأ‬ Value (dollars) Value

January , 4.20 5.400 6.20 9.400

February 4.20 6,900 6.25 9.400
M arch . , 4.50 6.400 11,000
A pril. . 4.50 6.500 6.50 11,000
May . ٠ 7,000 7.10 11.500
Ju n e. . 5.40 7.500 6.50 11.500
July . . . . . . ٠٠ . . . . . 1.65 3,300 5.80 8,100 5.50 11,000
August . . . . . . . . . . . 2.10 3,600 6.50 8,500 5.50 10,500
Septenrber . . . . . . . . . . 3.00 4,000 7.00 8,650 5.75 9,750
O ctober - - - - - - - . . . . 3.65 5,000 6.75 8,650 5.85 9,750
Novenrber - - - - - - . . . . 3.45 4,900 6.00 9,500 6.00 9,750
December - - - - - - . . . . 3.85 5,000 6.20 9,500 5.50 9,750

S o u rc e : V arious issues o f “Sale a n d p u rch ase m o n th ly re p o rt fo r ^ a y 1973” , p u b lish ed b y R . s. ‫ ؟‬la to n ٨ /$ (G slo)

٠ B stim ated ra te fo r 1^-m onth tim e c h a rte r p e r d w t p er m o n th .

22
 T a b l e 21

Estimated developments of freight rates * and vaines for a good-class 10,500/12,500 dwt sheiter-deci،er
(Values in thousands ofdollars)

1972 1973 1974

Freight Values fo r vessels Freight Values fo r vessels Freight Values fo r vessels

rate built in rate built in rate built in

A s at < l o f : (dollars) 56 1960 (dollars) 1956 1960 (dollars) 1956 I9 6 0

J a n u a ry .................................................................. 3.50 5.50 1,500 8.50 1.700 2.500

F e b r u a r y .............................................................. 3.40 , 3‫ ؛؛‬r » 0 6.00 1,700 8.00 1.700 2.500
M a r c h .................................................................. 3.30 800 6.10 1,200 9.00 1,850 2,650
A p r i l ...................................................................... 3.30 800 1,200 6.10 1,200 1,800 10.00 2,000 3.000
M a y ...................................................................... 3.20 750 1,150 6.10 1,350 2,100 10.75 2.400 3.200
J u n e ...................................................................... 3.30 725 1,100 6.40 1,400 2,150 10.50 2.400 3.200
J u l y ...................................................................... 3.30 725 1,100 6.70 1.500 2.300 10.00 2.300 3.100
A u g u s t .................................................................. 3.30 725 1,100 6.90 1.500 2.300 1 0 .0 0 2,200 3.000
S e p t e m b e r .......................................................... 3.40 725 7.50 1,600 2,450 10.50 2,200 3.000
October .............................................................. 3.65 850 1,400 7.50 1,800 2,600 10.50 2.300 3.100
N o v e m b e r .......................................................... 4.60 900 1.450 8.00 1,800 2,600 10.25 2.400 3.500
D e cem b er.............................................................. 5.00 900 1.450 8.00 1,750 2,550 10.00 ^,300 3,400

Source : A s fo r ta b le 20.
٠ E stim ated ra te fo r 12-m onth tim e eh a rter.

10,500/12,500 dw t reached very high levels during the m ight be created by the reopening o f the Suez Ganal.
first h alf o f the year w hen freight rates also reached their G ther factors affecting the dem and fo r vessels o f this
highest levels, an d as th e dry cargo freight m arkets size group are discussed in parag rap h 110 below.
rem ained firm till the late m onths o f the year, prices o f
75. T he extent to which interest in the different types
these vessels also rem ained firm, although a t low er than
and sizes o f vessels varies is reflected in the prices fo r the
the peak levels reached during th e flrst h a lf o f the year.
corresponding types o f tonnage. F o r instance, as is
72. T he m ark et fo r second-hand tan k er tonnage shown in table 17, p^ces for tankers o f the size groups
developed quite differently. T he weakness o f the tanker 200,000-299,000 dw t and 200,000 dw t dropped furth er
freight m arkets, coupled w ith uncertainty regarding the below their 1972 levels th an could be accounted fo r by
prospects fo r these m arkets an d difficulties in the inter- greater age, while prices fo r tanlcers in the 50,000-
n atio n al m ark et capital, exercised a dow nw ard 100,000 dw t size gronps were aro u n d their 1972 levels
pressure o n dem and fo r second-hand tankers from the and those fo r smaller sizes rem ained a t higher levels th an
early m onths o f the year. This pressure was conseqnentiy in 1972. These price developm ents appear to he very
ffilt in the prices p aid fo r such vessels. I t appears th a t m uch in line with the m ovem ents in tanker freight rates
th e expected reopening o f the Suez C anal has also caused n 1974 described in chapter V below.
som e hesitancy am ong p otential bnyers.
74 W ithin each b ro a d sector o f th e second-hand c . Acquisition of new and seeond-hand vessels
tonnage m ark et (tankers, bnlk carriers, etc.), particu lar by developing countries ‫او‬
dem and conditions and different levels o f prices are
found, depending again o n th e corresponding dem and 7b. Inform ation regarding the to tal additions o f newly
conditions in the freight m arkets. F o r instance, the bnilt and second-hand vessels to the m erchant fleets o f
dem and fo r dry cargo tonnage has been particularly developing countries in 1972 is given in table 22. T o tal
concen trated on shelter-deck tonnage w hich coffid also gross additions to these fleets am ounted to 192 ships,
be ns^d in liner trades w here boom conditions prevailed aggregating 2 m illion dwt.®^
th ro u g h o u t the year, an d on bnlk tonnage in the F anam ax
60.000 dw t ٠٠ size range w hich has been considered ad- 77. ^ixty-eight newly built vessels aggregating 1.9 mil-
vantageous in th e light o f the expected reopening o f the lion dw t were acquired in 1972 by developing countries,
Suez C anal. ٠٠ In addition, dem and fo r tankers o f up to as com pared with 72 vessels o f 1.1 m illion dw t in 1972.
150.000 dw t ٠٠ has been stronger th a n fo r ATCCs, As in previous years the new vessels were m ainly acquired
and this m ay also reflect the new m ark et conditions which
٠١ The discussion in this section is based on data communicated
to the N N €T A D secretariat by the N n i^ d States D epartm ent
٠٠ Maximum size ‫ ( ه‬VI whieh ean the Panam a Canal o f €ommerce، Maritime Administration.
٠٠ Since information re^ardin^ the acquisition o f new and second-
٠٠ Shipping World and Shipbuilder (London), vol. 167, N o. : hand vessels by developing countries in 4?9 ‫ ل‬is n o t yet avaiiable,
July 1974. some scattered information which has been extracted from published
٠٠ / ‫ﻣﻤﺢ؛ ﺀ‬ sources Is given in paragraph 90-99 below.

22
 T able 22

Changes in the ocean-going merchant fleets of developing eoantries in 1973:

، of new and seeond-hand ships hy type of vessei—oeean-going ships of 1,000 grt and over
(In number o f ships and 1,000 dwt)

‫م‬/‫ س‬/'‫;ااﺀ‬
A ll ships Tankers B u lk carriers Freighters O ther ships

N um ber dw t N um ber dw t N um ber dwt N u m b er dw t N um ber dw t

New b u ild in g s 68 18 916 32 309

Flag ch an g es
Gther additions
G ross a d d it io n s
104
20
192
1,062

3 ,‫ة ﺀ‬
10 7

13
149

475
‫ة‬
120
561
81
970 29
87

D e d u c t io n s 101 810 206 6 59 76 496 49

o f which:
17 3 47 30 205
losses ! ! : 1 8! 215 136 ‫ت‬ ! :‫ت‬
::! 71
se rap p in g s 39 3 12 30 210 ^4
O ther d e d n c tio n s 7 14 10
N et A D D IT IO N S 91 217‫؛‬, 23 978 7 416 474 17 ?٨?
o f which:
in A f r i c a 19 153 102 35
in A s i ^ 36 ,315 .‫إ‬ 11 137
in Latin America and C a r ib b e a n 36 749 (-!)* 18 235

Source ; C om piled fro m d a ta o n to n n a g e a d d itio n s a n d deductio ns w hich w ere m a d e availab le to th e U N C T A D secretaria t by th e U n ite d S tates D e p a rtm e n t o f C o m -
m erce, M aritim e A dm inistration.
٠ T h e m inus sign indicates net deductions in th e n u m b e r o f vessels, w hich does n o t necessarily lead to a d ed u ctio n in to n n ag e, b ecau se o f th e increased size o f th e
vessels added to th e fleet.

from shipyarBs o f other th an Beveloping eountries;
35 vessels o f 1.4 m illion Bwt were built in BeveiopeB
m arket-eeonom y eountries anB 10 vessels o f 0.1 mil-
lion Bwt in soeialist eountries o f F astern F u ro p e anB
Asia. T he tonnage o f vessels built a t shipyarBs in
Beveloping countries inereaseB only m arginally from
0.31 m illion Bwt in 1972 to 0.34 miflion Bwt in 1973; in
relative term s a Beerease occurreB betw een 1972 anB
1973 anB the share tonnage bnilt a t own yarBs BecreaseB
from 27.5 per eent in 1972 to 18 p er eent in 1973.
78. T he seeonB-hanB tonnage acquireB increaseB
from 95 vessels o f 0.76 miflion Bwt in 1972 to 104 vessels
o f 1.1 m iflion Bwt in 1973. A t in previous years these
vessels were m ainly acqnireB from BeveiopeB m arket-
eeonom y countries anB open registry eountries (93 per
cent o r 1 m iflion Bwt); only 1 p er eent (10,000 Bwt) was
aequireB from socialist eonntries o f F astern F n ro p e anB
Asia, while the balance o f 6 per eent (59,000 Bwt) repre-
senteB flag ehanges w ithin the gronp o f Beveloping
countries.
79. A fter allow ing for Beietions, the net aBBitions to
the fleets o f Beveioping eountries in 1973 were 91 ships
totalling 2.2 miflion Bwt as eom pareB w ith 97 vessels
o f 1.2 miflion Bwt in 1972. © f this tonnage, in 1973
Beveloping countries in A friea acquireB 19 vessels o f
0.2 miflion Bwt, in A sia 36 vessels o f 1.3 miflion Bwt anB
in L atin A m erica ^nB the G aribbean 36 ships o f 0.7 mil-
lion Bwt. T he corresponBing tonnages for 1972 were
0.1, 0.6 anB 0.4 miflion, respectively.
80. By com paring the in fo ra a tio n given in table 22
w ith the coTTCsponding Bata for 19?2 ‫ وﺀ‬it can be seen
th a t there have been noticeable changes in the type anB
size com position o f the net aBBitions to the fleets o f
Beveloping countries. F o r instance, in 1973 o f tankers
1.2 m illion Bwt anB bulk carriers o f 0.5 m iiiion Bwt were
acquircB, as com parcB w ith tankers o f 0.3 m illion Bwt
anB bnlk carriers o f 0.3 miflion Bwt in 1972. In the case
o f tankers the average size o f the acquisitions increascB
from 16,600 Bwt in 1972 to 39,500 Bwt in 1973, anB in
the case o f bnlk carriers from 2^,200 Bwt in 1972 to
36,500 Bwt in 1973.
81. F aken as a whole, the various Bata on the Bevel-
opm ent o f the fleets o f Beveloping countries point to the
possible emergence o f a new trenB. This is shown by the
annual percentage rates o f grow th over the last fou r years,
which are:
«/«4.8 . . . . . . ‫ ا‬9701-‫و‬7 ‫ا‬
4.6 . . . . . .9 7 2 ‫ إ‬97 ‫ل‬- ‫»ل‬/o
t972-t973 . . . . . . 6.3»/o
1973-1974... . . . 9.5»/o
W hile current orBers fo r new tonnage are n o t sufficient
to increase the share o f Beveioping countries in the worlB
fleet, as table 22 shows the purchase o f seeonB-hanB
vessels is m ore im p o rtan t as a source o f fieet expansion.
H ence, Bespite the eviBenee from new orBers, the increas-
ing grow th rate o f the fieet o f Beveloping countries.
‫؛‬Review ofm aritime transport, 1972-1973 (op . ‫ﺀ‬،'‫ﺀ‬.‫ر‬ table
24 .,

24
cnupled w ith the arrest ©f the decline in their share o f
w orld tonnage, m ay indicate th a t a new tren d is emerging.
I t is clear, however, th a t m ueh m ore w ould be needed
—virtually m ore th a n is possible—if the objectives o f
the In tern atio n al © eveiopm ent Strategy fo r the Second
U nited N atio n s © evelopm ent © eeade are to be attained.
82. $om e individual developing countries were able
to add substantial am ounts o f tonnage to their existing
fieet in 1973 (see annex V). fu rth e rm o re , as the iufor-
m ation given in paragrap h s 91 to 99 below indicates,
qualitative changes in the fieets o f individual developing
countries are e^peeted. H ow ever, the general picture
fo r developing countries as a whole rem ains gloom y and
there ap p ear to he only a very lim ited num ber o fco u n tries
able to bring a b o u t significant im provem ents o f their
fieets.
83. One o f the m ain obstacles preventing developing
countries from signifieantly increasing their share in
w orld tonnage is the fact th a t insu® cient capital is
available to them on suitable term s. As is pointed out
above, developing countries acquire vesseis m ainly from
foreign countries an d thus they m ust have access to
foreign credit on suitable term s fo r any significant im-
pr©veme ‫ س‬s to be m ade in their fieet as a whole. Exist-
ing evidence, however, reveals th a t financing the acqui-
sition o f new vessels has becom e m ore d i^ c u lt in 1974
th an it was in earlier years.
84. I t is for snch reasons th a t, in the financing o f
new and second-hand tonnage by developing countries,
attentio n is being focused on the role o f international
financial institntions as suppliers o f capital for shipping
investm ents developing countries. U evelopm ents
appear to be very slow in this direction. In 1974, the
W orld Bank g r a c e d the ?hilippines a loan o f $12fi million
fo r the acquisition, conversion an d repairs o f ships in
order to im prove the inter-island fieet servicing in the
?hilippines.
85. In July 1974 the OEG © shipbuilding countries
am ended their export credit term s fo r new ships and
m ade them considerably less attractive for shipow ners
th an before. The am ended O E C D term s o f ©redit for
ships, the text o f which is reproduced in annex VI,
eoupled w ith increasing priees for newly built vessels,
m ade it even m ore di® cult fo r developing countries to
build up substantial and productive m erchant fieets by
acqniring new ships.
86. W ith the tightening o f shipyard credits, ship-
owners increasingly have to tu rn to banks for loans, h u t
hanks have hecome increasingly hesitant to finance new
tonnage an d show a m ore discrim inating and selective
attitude tow ards borrowers.®* This is particularly im-
p o rta n t w hen it comes to investm ents involving very
large capital requirem ents, as for instance ultra-large
©rude carriers, liquefied n atu ral gas carriers and large
container vessels.
87. F o r instance, a L N G vessel o f 125,000 cu m
carrying capacity, if ordered in mid-1974 for delivery in
٠٠ “Ship finance hit by banking problems” , L lo yd ’s List (London),
‫ ة‬October 1974.
25
raid-1977, would cost an estim ated $11 ‫ ه‬million.®‫ ؟‬In
order to appreciate the dim ension o f the hnancial require-
m ents for future investm ents in L N G carriers, it is w orth
noting th a t the capacity o f the w orld L N G fieet is
expected to he betw een 8.2 m illion and 9.7 m illion c u m
by the end o f 198fi as against an existing fleet o f2 .fi mil-
lion c u m at the heginning o f 1973 .‫ ﻣﻖ‬A t c u r r e ^ building
prices, event at the lower level, the investm ent require-
m ent is roughly $5,000 million. The very high costs
o f building T N G carriers m a^e it increasingly d i^ c u lt to
finance investm ents in such vessels. A ecording to press
reports, hanks find it di® cult to provide the capital
required for such investm ents w ithout additional safe-
guards. I t is perhaps fo r such reasons th a t the financing
o f the supply o f tonnage required to carry L N G to its
destinations is inereasingly becom ing an integrated p a rt
o f the developm ent projects concerned and is additionally
guaranteed by the whole operation.®‫؟‬
88. © oubts have been expressed in the press ®‫ و‬as to
w hether In d ia wiil he able to Im plem ent its national plan
program m e o f expanding its m erchant fleet to 8.fi mfi-
lion grt w ithin the next five years, because o f di® eulties
in raising the capital th a t is required to expand the
m erchant fieet by ah o u t 1 m illion grt per year, as called
fo r in the plan.
89. R c e n t developm ents in the availahility o f capital
in oil producing countries have eased di® culties regarding
the financing o f investm ents in shipping th a t previously
existed also in these countries.®® Thus a num ber of
investm ents in shipping projects have heen announced in
1974, while in other eases prospects for the developm ent
o f natural gas resources in developing countries have
also included plans fo r investm ents in the tra n sp o rt of
natural gas. A vailable inform ation regarding these and
other cases o f ship financing in developing countries is
given helow.
90. The A rab M aritim e ?etroleum T ran sp o rt Gom-
pany (A M ? T € ), form ed in 1978 hy the G overnm ents o f
eight A rab States under the auspices o f G A ? £ € , ordered
its first vessels at the beginning o f 1974. Two crude
carriers o f 275,000 dw t were ordered iu France for
delivery in 1977 and 1978 respectively, and tw o crude
carriers of 313,000 dwt, and also one o f 38fi,000 dwt,
were ordered in the fe d e ra l R epublic o f G erm any for
delivery in 197fi and 1977. T otal costs o f these order s
are reported to he $320 m illion.“ In the second phase
٠٠^N ٠ : 1974-1990—M arine ©^eraiion an4 m arket prospects
for liquefied natural ^as-p u b lislred by the £©onomk Intelligence
Ifn lt; reviewed in Fairplay Internatiorml Shipping Weekly (London),
vol. 252, No. 4742 (11 July 1974), p. 6.
٠٠ / ‫ﻣﻪﺀه‬
٠‫ﻣﺮ ؟‬،،‫»■ ا‬،‫؛‬
/ de la marine marchande et de la navigation ‫ءسء'ءﻣﺣﻪ‬
(Paris), 56th year. N o. 2836 (25 April 1974), and ‫ء‬/،‫ ء’ ﻣﺣﻣﺎ‬List
(£ondon), 14 Novenrber 1974. See also para. 123 below.
٠٠ L loyd's List (London), 11 June 1974, and Shipping and Trade
News (Tokyo), 17 June 1974.
٠٠ According to press reports, the total tanker tonnage on order
by developing oil produeing countries in Asia and Afriea anrounted
in 1974 to 5.74 nriiiion dwt including the tonnage ordered for the
A rab M aritime Petroleum Transport Lom pany; L PG /LN G and
chemieal carriers of 1.3 milhon cu m, were also on order (Norwegian
Shipping News (Oslo), vol. 30 N o. 19 (11 November 1974).
٠® The Petroleum Economist (London), vol. NLI, No. 8 (August
1974), and ‫ﻣﺢ'ءه'أ‬., N o. 9 (September 1974).
o f its operations, A M P T C plans to order six new tankers
in the size gronp 40,000-150,000 dw t, an d in the third
phase orders fo r gas carriers, especially L ? G vessels, are
envisaged.،^
91. T he M iddle E ast G as an d ?etrolenm Com pany,
in which K uw aiti interests hold a m ajority share, is
reported to be planning to bnild u p a large LE G carrier
fleet. I t will be assisted by its largest foreign share-
holder, the Liberian-registered M ultinational G as and
Eetrochem ical C om pany. The assistance offered will be
in the flelds o f construction an d design o f the fleet,
tran sp o rt, m arketing and term inal operations.^‫؛‬
92. A n agreem ent to set u p a jo in t tan k er com pany
between a D u tch firm an d the U nited A rab E m irates was
reported to have been reached in Septem ber 1974. It
will be know n as the U A E T T n k e r C om pany an d it
intends to build u p a fleet o f U LC Cs. The eom pany is
n o t expected to becom e operational im m ediately .٠٠
92. T he $audi A rab ian M aritim e C om pany ($am arco)
has been set u p as a jo in t venture o f $audi A rabian and
U nited States interests. A ccording to press reports,
im m ediate acquisitions o f vessels will am o unt to
approxim ately 600,000 to 800,000 dw t o f tanker tonnage
and additional vessels will be added a t a rate o f 750,000
to 1 m illion d ^ t p er year fo r several years.^،
94. Some oth er developm ents, in speciflc circum -
stances, which have also helped to widen the sources o f
capital fo r flnancing an d enabled developing countries
to acquire ships, are noted below.
95. In d ia an d Ira n are to set u p a jo in t shipping line
und er the titie Irano-N ind Shipping C om pany in which
Iran will have a 51 per cent share an d the Shipping
C o rp o ratio n o f In d ia a 49 per cent stake. The G overn-
m ent o f Ira n will provide credit fo r buying ships.،‫؛‬
96. In June 1974, a group o f 41 international banks
announced in L ondon tbe signing o f a loan agreem ent
w ith E m presa Lfneas M arftim as, s. A. (ELM A ) of
A rgentina for $152.5 m ilhon repayable over eight years.
A ccording to press reports,^® a to tal o f 12 cargo vessels
were being ordered b u t the loan is n o t speciflcally tied
to the vessels, since it is guaranteed by the Banco N acional
٠٠ Norwegian Shipping News (Oslo), vol. 30, N ٠ . 19(11 Ncvemb^r
1974).
٠٠ ‫ﺀ‬/‫ ﺀ’ ﻣﺤﻤﻢ‬List (London), 25 Febrnnry 1974.
٠٠ Ibid., 5 October 1974.
٠٠ Financial Times (London), 4 D e e m b e r 1974.
1 ,. ٠٠ / ‫ ﻣﺢ’ﺀه‬November 1974, nnd ‫ﺀسﺀك‬-‫( ﺀﻣﺤﻪ‬Colchester U.K.),
vol. 4, No. 11 (November 1974).
٠٠ ‫ﺀ‬/‫ ﺀﺀ’ ﻣﺤﻤﻢ‬/‫( ؛ﺀ‬London), 11 June 1974.
26
de D esarrollo, the governm ent-controlled developm ent
h an k In A rgentina.
97. N ational and G rindlays B ank in L ondon has
provided tw o loans o f a b o n t $7.7 m illion each to the
In dia Steam ship Go. o f G aleutta for the purehase o f two
second-hand dry cargo vessels, ? rio r to this loan agree-
m ent, the same b an k signed a loan for S20 m illion to
finance two new ships for an Indian shipping com pany.^‫؟‬
98. The M alaysian In ternational Shipping G orpora-
tion has reached an agreem ent w ith an international
consortium o f banks for a loan o f $600 m illion. The
loan will be used by the M alaysian national shipping line
to bnild up a fleet o f liquefied natu ral gas tankers and
oil tankers.^® T he cu rren t practice o f treating the
financing o f investm ents for L N G carriers as an inte-
grated p art o f developm ent projects for L N G production
is so w idespread th a t surprise has been expressed in a
press report th a t no decision has yet been reached
regarding the eventual em ploym ent o f the flve L N G
carriers, which are due fo r delivery in ‫ ل‬978 .‫ﺀه‬
99. On the other hand, in 1974 there has been an
exam ple o f dom estic flnancing fo r investm ents in shipping
in a developing country. C ontracts for 45 vessels o f
varions types and sizes w orth a b o u t £25fl m illion have
been granted to the shipyards C om panhia Com ercio e
N a v e g a ^ o (C C N ) o f Brazil fo r Brazilian owners. The
delivery o f vessels is to be spread over the period 1976-
1980 and the flnancing has been secured through loans
by the Brazilian G overnm ent, repayable in 15 years a t
8 per cent interest.‫“؛‬
100. These examples illnstrate the possibilities and
also the problem s th a t developing eountries have
encountered in raising the capital required for the
extension o f shipping activities. In the light o f the
increasing difficulties experienced by developing countries
in financing the acquisition o f vessels, the Com m ittee
on Shipping, in resolution 21 (VI) adopted a t its sixth
session, reqnesffid im provem ents in flnancial term s and
conditions for the purchase o f ships by developing
‫ أي‬Journal o f Commerce (Liverpool), 13 April 1974.
‫ ﺀي‬Financial Times (London), 28 Noveniber 1974.
٠٠ Lloyd’s List (London), 11 December 1974.
‫ ؛‬٠ Seatrade (Colchester U .K .). vol. 4, N o. 12 (December 1974),
and Journal de la marine marchande ‫ ﺀه‬de la navigation aérienne
(Paris), 56th year. N o. 287b (19 December 1974) and N o. 2871
(26 December 1974).
٠٠ F o r tbe text of resolution 21 (VI), see Official Records o f the
Trade and ‫ ﺀ ^ ﺀﺀ‬/‫ ﺀ » ﺀﺀ « ر ﺑﻢ‬Board, Fourteenth Session, Supplement
No. 2 (TD/B/521), annex I.
 Chapter IV

TRENDS IN SHIPBUILDING

A. General develnpmenl 103. As In previous ‫?؛‬ears, Japan dom inated the

101. © uring 1974 the w orld’s ship‫?؛‬ards delivered
1,251 vessels w ith a to tal tonnage o f ab o u t 58 m illion dwt,
thus exceeding the deliveries o f new buildings in 1973
b ‫ ?؛‬ab o u t 6.1 m illion dw t although 31 fewer vessels were
delivered. T able 23 gives a surve‫ ?؛‬o f the num ber and
tonnage o f ships delivered in the ‫?؛‬ears 1968-1974
according to types o f vessels built. Because o f the high
volum e o f vessels currently on order the tendency o f
deliveries to rem ain a t high levels should continue at
least until 1976, unless large-scale cancellations ocmtr
as a resnlt o f freight m ark et ehanges.
102. As in the preceding years tankers m ade up
the greatest p ro p o rtio n o f newly delivered ships in 1974
and accounted fo r 67.6 p er eent o f to ta l deliveries in
term s o f tonnage. F o r the h rst tim e since 1969 a deeline
was recorded in the deliveries o f com bined earriers.
A declining trend also in new orders suggests th a t there
will be a furth er decline in new deliveries o f eom bined
tonnage in the next few years. Deliveries o f bulk earriers
(ineluding ore earriers) in 1974 also decreased as eom pared
w ith 1973. The share o f bulk earriers in to tal deliveries
dropped from 18.4 per cent in 1973 to 13.8 p er cent
in 1974.
Unless otherwise stated, the discussion in this chapter is hased
on data given In Lloyd's Register ofshipping .• Merchant shipbuilding
Return, various quarterly issues.
shipbuilding scene. A t the end o f Septem ber 1974,
45.1 per eent o f the to tal w orld order b o o ^ was placed
w ith Japanese ‫?؛‬ards, as com pared w ith 43.6 per cent
on 30 Septem ber 1973 .‫ قﺀ‬Sweden, the second largest
shipbuilding countr‫?؛‬, accounted for onl8 ?‫ ؛‬per eent
in 1974 and 9 per eent on 30 Septem ber 1973.
104. © f the gronp o f developing countries, 21 coun-
tries are recorded as being current{‫ ?؛‬engaged in ship-
building activities,®* b u t a t the end o f Septem ber 1974
the com bined share o f these countries in the to tal w orld
order book had deelined to 2.2 per cent as eom pared w ith
3.1 per eent a t the end o f Septem ber 1973. It is w orth
adding th a t each o f the 10 m ajor shipbuilding countries
accounts fo r a higher share o f tonnage on order th an
these 21 developing countries as a whole.
105. I t can be observed from the preceding p ara-
graph th a t shipping enterprises o f developing countries
‫ ؛؛؛‬However, out of only nine new orders for VLCCs and ULCCs
placed thron^hont the world during the first nine months of 1974,
none has been placed In Japan {The ^^،>?٠٢ Ship (London), vol. 55,
No. 652 (November 1974)).
L loyd’s Register ٠/ Shipping .■ Merchant Shipbuilding Return,
third quarter, 1974. The countries and ^rrltories registered are;
Angola, Argentina, Bangladesh, Brazil, Fgypt, Ti)i, Guyana,
H ong K ong, India, Indonesia, Israel, Kenya, Lebanon, Malaysia,
M auritius, M exko, ?akistan, Bern, Bhilippines, Republic o f Korea
and $ingapore.

T able 23
Deliveries of new buildings, 1968-1974 '
(In thousand dwt)

B u lk carriers »
Com bined (including
Tankers ٠ carriers ‫ﺀ‬ ٠٢» carriers) ‫م‬،‫■ اﺀه‬
‫ﺀ‬/<‫ا‬
‫ﺀ‬.‫؛‬ Total

Year N um ber N um ber dw t N um ber N um ber dwt N um ber dw t

1968 14 11,097 3^ 2,720 4,800 1,020 26,514

1969 25 23 2,028 200 716 6,000 1,064 3©,412
1970 42 20,122 30 185 1,049 35,834
1971 20,397 42 5,634 214 8,154 1,080 39,773

‫ج‬
1972 50 7,774 243 9,179 1,102 44,280
1973' 54 8,255 ^14
1974 34 4,700 200 ‫م‬
8 00 780 1,251 58,000

S o u rce: F earnley an<t £^er$ C h arterin g C o. L td ., 1974 ,' ‫( ااﺀا^ ﺀﻣﺢ‬O slo, 1974), ta b le 4.
‫ ﺀ‬F o r d a ta referring to earlier ^ears, see R eview o fm a r iti m e ‫آر‬، ‫ﺀﺳﻤﻪﺀﺀ»ﺀ‬ / ‫ﺋﺤﻮ‬
, -‫ﺀا‬/ ‫ﺀه ) ل‬. c it.) , ta b le ;
‫ ﺀ‬Vessels over 10,000 dw t.
٠ A ll seagoing cargo-carrying vessels over 1,000 grt.
» Revised figures.

27
ean tu rn to national shipyards for the eonstruetion o f ١٧^$ the result ‫ ص‬cancellations o f a nnnrher o f contracts ‫ﺀﺀ‬
new tonnage only to very lim ited extent, ^ o r the fo r tanlcer new huiidings and a net fall in the nnnrher of
present an d also for the foreseeable future, m ost develop- V LCCs on order, w hieh was n o t o ^ e t by the increased
ing countries will have to depend entirely on foreign orders for tankers nnder 150,000 dwt. In faet, hetween
shipyards, an d this will tend to accentuate their balance- 1 N ovem ber 1973 and 31 O ctober 1974 the to tal order
of-paym ents problem s. A few encouraging changes, h ook for tankers increased by a mere 1.6 per e e n t“ as
however, have heen observed in recent years. Brazilian com pared w ith an increase o f ab o u t 75 per cent in the
shipyards are increasingly active in supplying tonnage corresponding period ending O ctoher 1973. H owever,
for B razilian owners and it is heing suggested th a t in the this charge should n o t substantially affect deliveries o f
foreseeable futu re they m ay have to tu rn to the inter- new tankers in the next few years, since the tonnage
national m ark et to seek em ploym ent an d thus becom e under construction h ad further increased to 20.4 mil-
an export industry.‫ ؛؟‬A no th er exam ple is the founda- lion grt a t the end o f Septem ber 1974 as com pared with
tion o f the H yundai shipyard a t M ipo Bay, R epublic o f 15 m illion grt at the end o f Septem ber 1973.
K orea, where in L ebruary 1974, only 21 m onths after
108. The rapid increase in the num her o f tankers on
construction o f the yard h ad started, the first 259,000 dwt
order in the size group o f 400,000 dw t and ahove, which
tan k er was com pleted. ‫؟‬٥
was a characteristic o f the order book in 1973, did n o t
106. T he long-term prospeets for the shiphuildingcontinue in 1974. A fter having Jnm ped from 36 at
industry depend on the outcom e o f several faetors which 30 Septem ber 1973 to 66 a t the end o f 1973, the num her
can n o t yet be fully evaluated. In addition to the m onet- o f tankers on order in this size group rose slightly to 70
ary problem s th a t still rem ain unsoived, a nnm her o f in the first q u arter o f 1974, h u t deehned to 69 at mid-1974
oth er problem s have arisen. The w orld energy situation and rem ained a t 69 a t the end o f the th ird q u arter of
and increased b unker costs could have an im pact on 1974.‫ ﻟﻢ‬Nevertheless, w ithin the size group o f 400,000 dw t
future dem and for tonnage, thus slackening the dem and and ahove there is still a preference for tankers o f over
fo r yard capaeity. In this connexion several reports 500,000 dw t, the num ber o f w hich on order increased
predict a slow dow n in the rate o f increase in the dem and from 7 a t the end o f M arch 1974 to 10 a t the end o f
fo r oil an d vast surpluses o f oil tan k er tonnage; if this Septeraher 1974.
occurred, it w ould certainly have serious repercussions 109. The em phasis in new orders for tankers during
on the dem and for shipyard capacity. A t the same time, 1974, however, was on tankers o f under 150,000 dwt.
general économ ie forecasts also give a rath er uncertain A renewed interest in tankers o f this category was
if n o t gloom y picture o f the future econom ic situation already apparent during 1973. Indeed, between 1 N o-
in several o f the m ajor industrial eountries, which, vem ber 1972 and 31 C ctober 1973 the tonnage on order
if realized, w ould aifect w orld trad e an d its pace o f o f this size o f tankers douhled (25.3 million dw t in 1972
expansion an d thus the dem and fo r tonnage. O n the and 52.6 m illion dw t in 1973). In the period from
oth er hand, experience has show n th a t it beeomes m ore 1 N ovem ber 1973 to 31 C ctober 1974 the order h ook for
and m ore d i^ c u lt to forecast even short-term econom ic tankers under 150,000 dw t registered a further increase
developm ents w ith a reasonable degree o f reliability. to 62.6 m illion dwt.®®
I t seems, however, th a t there are b u t few indications,
if any, th a t the w orld shiphuilding industry is likely to 110. There appear to be several reasons for the
know a period o f prosperity in the late 197fis ‫ ؟؟‬com par- interest in tankers o f under 150,000 dwt. C ne o f them
able to th a t experienced since 1969 to date.‫®؟‬ is the com paratively unfavonrable age distribution o f
this fieet. W hile alm ost all the tonnage o f the size
group 150,000 dw t and above is less th a n 10 years old,
B. Particular developments by type of vessel ab o u t 32 per cent o f tankers below 150,000 dw t were
15 years and older a t mid-1974.®® A n other reason is the
fact th at the Suez € a n a l is scheduled to reopen in 1975,
1. B ulk cargo vessels when it is planned to accom m odate in the first stage ships
(a) Tankers o f about 60,000 dw t loaded and 110,000 dw t in hailast.®،
1^7. $ince the early 196fis there has heen a trend Linally, there appears to have heen a very rapid grow th
tow ards the d o m ination o f tankers an d dry bulk carriers
(including com bined carriers) in the to tal o rder book, ٠٠ Twenty-four contracts for ^ n k e r new buildings am ounting
as well as in deliveries o f new buildings. In 1974, for for 4.5 million dwt were cancelled between 1 November 1973 and
the first tim e in recent years the share o f tankers in the 31 October 1974. World Ships ٠ « Order : Fairplay International
Shipping Journal (London), Nos. 38 to 41.
to tal order b o o k did n o t increase significantly. This
٠» Ibid., N o 37 (November 1973) and N o. 41 (November 1974).
٠١ Quite a num ber of orders for ULCCs of tbis size group refer
٠٠ Seatrade (Colchester U .K .), vol. 4, No. 12 (December 1974). to restricted draft vessels o f about 73 feet drafi for 400,000 dwt
٠٠ Lloyd’s List (London), 15 April 1974. vessels {Fairplay International Shipping Journal (London), vol. 253,
N o. 4757 (24 October 1974).
٠‫ ؟‬Lloyd’s List (London), 26 October 1974.
٠٠ World Ships ٠« Order .• Fairplay International shipping Journal
٠٠ Japanese ship exports In August 1974 were down 71.6 per cent
(London), N o. 37 (November 1973) and N o. 41 (November 1974).
from the corresponding m onth in 1973 in terms of contracts awarded.
It is also interesting to note that between the beginning o f the fiscal ٠٠ Lloyd’s Register ٠/ Shipping: Statistical Tables (London),
year 1974 (1 April) and August 1974, Japanese yards did not recei¥e 1974.
any orders for either ALCCs or ULCCs {Shipping and Trade News also ?aras. 261-267 b^lo^y on tbe reopening of tbe Sue
(Tokyo), 12 September 1974). Canal.
o f trad e in petroleum products, which has led to increased
orders for vessels o f the ap p ro p riate type.‫ ؛؟‬A m ong the
m ajor factors infiuencing the dem and for prod u ct carriers
is the planned expansion o f refining capacities in oi!
producing developing countries.
(b) D ry bulk carriers and combined carriers
111. Since early 1973 there has been a considerable
decrease in the tonnage o f bulk carriers (including combi-
ned carriers) und er construction, which dropped from
8.38 million grt at the end of the first q u arter o f 1973
to 5.4 m ilhon g rt a t the end o f the th ird q u arter o f 1974.
T here was also a decrease in the tonnage o f bulk carriers
delivered. Between 1 D ctober 1973 an d 30 Septem ber
1974, 8.2 m ilhon g rt were delivered as com pared with
9.3 m illion g rt in the 12-m onth period ending S e p te t-
her 1973.
112. T he to ta l order book for bulk carriers and
com bined carriers together decreased only slightly.
A t the end o f Septem ber 1974 the order b o o k stood ^t
18 m illion grt as eom pared w ith 18.7 m illion grt on
30 Septem ber 1973. In relative term s the share o f dry
bulk tonnage in to tal tonnage on order decreased from
16.4 p er cent at the end o f Septem ber 1973 to 14.1 per
cent ^ t the end o f Septem ber 1974.
113. Gonsidered separately, however, the trends in
buik carriers an d com bined carriers diverged. The
tonnage on o rd er for com bined carriers continued to
decline: a t the end o f O ctober 1974, 9.3 m illion dw t
were on order, as com pared w ith 13.8 m illion dw t a t
31 G ctober 1973. G n the oth er hand, the tonnage o f
o ther bu lk carriers on order increased from 25.1 m illion
dw t a t 31 G ctober 1973 to 27 m illion dw t a t 31 Gcto-
ber ‫ ل‬974 .‫هﺀ‬
114. W ith regard to the decline in orders for com-
bined carriers, there appears to be a confiict o f views
as to the future dem and fo r such vessels. Some observers
felt th a t the boom in construction o f com bined carriers
occurred only because o f the extrem ely low bnilding
prices fo r vessels in the 196fis. This argum ent is not,
however, supported by the available evidence. Ship-
building prices have risen sharply since the late 1960s,•
nevertheless, the tonnage o f com bined carriers on order
rose from 6.9 m illion dw t in 1969 to 21.6 m illion dw t in
1972 .‫ أﺀ‬th e re fo re , the decline in the tonnage o f com-
bined carriers on o rd er since 1972 is m ore likely to be
due to the fact th a t existing an d foreseen dem and for
sudh vessels has been m et rath er th a n to rising building
٠‫ ؛‬Aceording to a report published by Terminal ©perators Ltd.
(as quoted in Shipping and Trade News (Tokyo), 13 June 1974),
on the basis of produet earriers now on order and on different rates
of scrapping o f existing tonnage, between 895 and 1,119 vessels
of 39,9‫ س‬dwt equivalent will be in service in January 1977 while
demand should be between 1,399 and 1,599 vessels o f 39,999 dwt
equivalent based on growth rates of 7.8 and 19 per cent In the
trade.
٠٠ World Ships on Order: Fairplay International Shipping Journal
(London), N o. 37 (November 1973), N o. 49 (Angus( 1974) and
N o. 41 (November 1974).
٠٢ Fearnley and Fgers ©bartering Co. L td., World Bulk Carriers,
January 1969 (©s!o), table 8, and World Bulk Fleet, January 1972
(Oslo), table 19.
29
costs. T he extremely rap id grow th o f such tonnage
in the last 1‫ ه‬years occnrred in response to the advantages
o f the newly adopted concept o f com bined operations.
Snrely, only p a rt o f the dem and for shipping services
will be o f a type which could be subject to com bined
operations and hence future orders for such tonnage
will be to satisfy new specific requirem ents, fn this
connexion, it is w orth noting th a t beetwen 1972 and
1974 the great redaction in new orders was fo r ore/oil
carriers o f 150,000 dw t and above (16 in 1974 as com pared
w ith 52 vessels in 1972), while the order boolc for bulk/oil
( ‫ ) ه ^ ه‬carriers o f up to 150,000 dw t declined only by
$i^ vessels in the same period (38 in 1974, as com pared
w ith 44 in 1972).‫ ةﺀ‬These d ata suggest th a t the level
o f new orders is well sustained for the tonnage which
offers the widest fiexibility o f operation to the owners.
T he operational fiexibility o f this medium -sized com bined
tonnage is dem onstrated by recent shifts o f such vessels
from the oil to the dry cargo m arket. In the m eantim e,
the idea o f a new type o f com bined carrier was intro-
duced, the so-called PROBO.®“ It is proposed th a t
this vessel should be in the size group o f 96,000 to
126,000 dw t and should be able to carry products, crude
oil, bulk cargoes and ore. ^ h e smallest size vessel is
planned to carry 96,000 dw t on a d raught o f only
12.8 m, which will m ake it suitable for shallower w aters.‫•؛؟‬
Tike other product carriers, it will be able to carry nine
different kinds o f products.
2. General cargo and unit load system vessels
115. T he tendency observed in p re v io u years for
general cargo tonnage on order to decrease was reversed
between Septem ber 1973 and Septem ber 1974. The
d ata for the period end Septem ber 1972 to Septem ber 1974
for ships o f m ore than 2,000 grt are: ٢٠
D elivered
Total Under during
tonnage preceding
on ٠٢‫ﺀﻣﺢ‬٢ Per- struction Per- Î 2 m onths
(m illion centage (m illion centage (m illion
g r t) change g r t) change g rt) change
End o f:
September 197^ . 6.5 4.0 4.3
September 1973 . 5.6
+ 19.6 -1 6 .0 -1 6 .3
September 1974 . 6.7
116. D etailed d ata concerning the p articular changes
in each type o f vessel included in the group “genera]
cargo vessels” are n o t available. F o r “u n it load vessels” ,
too, only partial inform ation is available and is given
in the following paragraphs.
117. A t the end o f Septem ber 1974 total container
tonnage on order am ounted to 1.25 m illion grt, repre-
٠٠ / ‫ ه‬،‫ﻣﻤﺢ‬
٠٠ Journal de la marine marchande et de /٠ navigation aérienne
(Paris), 56(h year. No. 2847 (I I July 1974), ? ٠ 17П5, and ibid..
No. 2851) ‫ ه‬August 1974), p. 1945.
٢٠ The M otor Ship (London), vol. 55, N o. 652 (November 1974).
٢١ Lloyd’s Register o fS h ip p in g : Merchant Shipbuilding ^ £ ‫؛‬،،٢«
(London), third quarter issues for 1972, 1973 and 1974.
senting 18.8 per cent © fall general cargo vessels on order, 3. Other vessels
^ h e com parable figures a t the end o f Septem ber 1973
were 1 m illion g rt an d 17.8 p er cent, respectively. These (a) Liquefied gas carriers
totals were low er th a n a year earlier an d h ad indicated 120. A dvances condnued to be very rapid in 1974
th a t perhaps the co ntainer ship boom was ending. with regard to the tonnage o f liquefied gas carriers,
the tonnage on order and the si^e o f the vessels. A n
118. The trend in recent years for the shipbuilding
increasing num ber o f shipyards in western Europe,
industry to provide m ore flexible an d diversified unit
load tonnage persisted in 1973-1974, as show n in table 24. the U nited States o f A m erica and Jap an have by now
orders on han d for this highly speeialized and capital-
There was an increase in the num ber o f p a rt container
intensive type o f vessel. D evelopm ents and prospects
ships, full container ships, contain er/trailer ships, vehicle
regarding the rapidly increasing dem and ‫ ﺀآ‬fo r liquefied
carriers an d pallet ships, while the num ber o f vessels
gas suggest th a t tran sp o rt requirem ents for liquefied gas
on o rd er o f ah oth er types o f u n it load systems deelined.
will further a ttract the interest o f shipyards which have
the advanced technology required.
T able 24
121. D nring 1973, both the existing fieet o f liquefied
Numbers of unit loBd system vessels gas earriers and the tonnage on order increased consi-
on order ‫ ﺀ‬at mid-1973 and mid-1974 derably. In Jan u ary 1974, the existing fieet h ad a
capacity o f 3.3 m illion eu m (see table 25), as com pared
T ype o f vessel 1973 1974 w ith 2.6 m illion cu m a t the beginning o f 1973, while the
eapaeity o f the fieet on order rose from 3.4 million cu m
Bart container ships » 393 499 to 6.2 m illion cu m during the sam e period.
Fuh comainer ships ‫ﺀ‬ 7869 122. Advances have also been very rapid with regard
Uontainer/trailer sh ip s 58 66 to the carrying capacity o f L N G earriers. W hile,
C ontainer/part refrigerated ships. . . . . . . 44 34 ab o u t 10 years ago, the first generation o f L N G ships
¥ehic]e c a rrie rs 28 35 was in the size range o f 25,000-40,000 cu m, this was
B uk-vehicle c a r r i e r s 37 26 followed by an increase to betw een 70,000 and
Bulk container s h i p s 29 23 90,000 eu m .’® I t ean be seen from table 25 th a t new
Barge c a r r i e r s 10 9 orders are now concentrated on vessels o f 100,000 cu m
and above. A bout 90 per eent o f the tonnage on order
B a lle ts h ip s 1 3
a t the beginning o f 1974 belongs to this size group.
Container/barge carriers . . . . ٠ . . ٠. ٠ . 4 3
123. It has been noted in chapter III th a t because o f
S o u rce: C om piled fi-om W orld Ships ٠« O rd e r: ‫ م<رمﺀ‬/ ‫ ﻣﻪ‬/»، ‫اﺀ‬-»‫ ه‬، ‫ ه » ه'ﺀ‬/ ‫ ﻫﺚ‬/‫ﺀ» ﺀﻣﻢ‬ the volume o f finance required fo r m odern L N G
Journal (L o n d o n ), N o . 40 (A u g u st 1974).
‫؛‬، Including co n tracts p ending o r u n d e r n eg o tiatio n .
earriers, their financing is increasingly beeom ing a p^rt
١ ‫• ؟‬resumaEi^‫ ؛‬so m e 0 ( titese ^esseis a re w h at a re usuaiiy eaiied m u lti-p u rp o se o f the respective developm ents o f gas resonrees rath er
yesseis. th an an independent activity. Table 26 lists a num ber
٠ Including 24 »essels w ith a co n ta in e r cap acity 0 ( less th a n 200 T E U .
o f L N G schemes in which the financing o f the carrying
vessels has been integrated.
119. T he yearly increase in size and speed o f container
ships o n o rder th a t conld be observed u p to 1973 was (‫ ) ﺀ‬Push-barge vessels
n o t present in 1974. G n the contrary, from July 1973 124. Interest in push-barge systen^s is developing
to In ly 1974 th e average capacity o f fully ©ellular vessels slowly. In 1973 reference was m ade to the com m ission
on order decreased from 1,©65 T E U ‫؟‬٤ to 1,002 T E U per o f an ocean-going pnsh-barge vessel o f 23,000 m
vessel.’® T he largest vessel on o rder a t mid-1974 had F rance. In 1974, it has been announced th a t a pnsh-
a carrying capacity o f 2,274 ^ E U , as com pared with barge vessel system has been suceessfnliy tried on a round
2,804 T E U fo r the largest vessel on o rd er a t mid-1973. trip between Jap an and China. As a result two barges
In this connexion, it is w orth noting th a t there have been o f 4,000 dw t each and a pusher have been ordered in
warnings from British shipow ner circles against the Ja p an .’‫؟‬
construetion o f very large container ships.’* The sub-
stance o f the w arning was th a t there should be a balance ‫ )) ﺀ‬B AC AT-vessel
betw een th e desire for a certain frequency o f service 125، A new type of barge-earrying vessel fo r short
and fo r inoreasing vessel sizes, the m ore so sinee the sea trades has been eonstrneted in D enm ark, ^ h e
loss o f a very large container ship w ould have disastrous
effeets o n the trade, w hieh already has a tight balance ‫ ﺀأ‬F e r example, by 1980 the United States of America can he
between space offered an d space required. expected to im port between 46,000 milhon and 64,000 million cu m
from various sources, which is m ore than 10 times the volume of
gas moving under existing contracts. In 1980 also ^ p a n should
T £ U = Twenly-foot equivalent unit. be receiving ^4,000 million to 34,500 million cu m as against ab^ut
Birm orders of lift-on lift-off fuil container ships o f more than 9,000 million cu m by 1975. Besides that, movements of L ?G could
300 T F U capacity are taken into consideration. Diseussion based reach 17.5 milhon tons, as compared with 7.^ million tons in 1972.
on World Ships ٠« Order: Fairplay International shipping Weekly (€f. ‫ ﻣﺢ'ﺀ »و'ﺀئ‬Gas Carrier Register, 1974, compiled by H. U la rk o n
(London), No. 36 (23 August 1973), and ‫ﻣﺢ'ﺀﻫﺊ‬., N o. 40 (22 August and € o . Ltd, London).
1974). ‫ ؟‬٠ Petroleum Review (London), vol. 28, N o. 331 (July 1974).
’* Shipping and Trade News (Tokyo), 8 Apri! 1974. ” Zoseti (T o ^ o ), vol. XIX, N o. 1 (April 1974).

30
 ‫‪0‬ا‬
‫ه‬
‫‪٢٠٠‬ﺫ ‪\o‬‬
‫‪àl‬‬ ‫ؤو ‪s‬‬
‫‪ 0‬ا ‪s ٢٨‬؛‬

‫‪.‬‬ ‫ﻫﺎ‬ ‫‪40‬‬ ‫ﻫﺎﺝ •ممﺀ‬ ‫ج‬ ‫‪о‬‬ ‫ح‬

‫‪٢٢،‬‬ ‫‪Tf‬‬

‫ﻗ ﺆ | و ة ة ﻗ ﻖ‬ ‫ممﻢ‬
‫|‬ ‫‪00‬‬
‫ﺗﻒ ة‪.‬‬ ‫ﺡ‬ ‫ﺹ‬
‫ﺟ ﻤ ﺤ ﻤ ﺤ ﻤ ﺤ ﺔ | ﺗ ﻴ ﻤ ﺤ ﺎ‬ ‫‪я‬‬ ‫حمﺂ‬
‫ه‬ ‫حمﺎ‬ ‫‪OS‬‬

‫‪٠‬‬ ‫‪00‬‬ ‫ﻫﺎ‬ ‫‪OOTf‬‬ ‫ﻭﺹ مب‪،‬ﺀﺀ‬ ‫‪١٨‬‬ ‫ﺀ‬

‫اق‬ ‫‪1‬‬ ‫‪٠‬‬

‫ﺹ‬
‫و‬
‫|‬ ‫‪1 | 11‬‬ ‫ا | |‬ ‫ا‬ ‫‪I I «N I I‬‬
‫ة‬

‫| ﺑ ﻨ ﺎ‬ ‫اب‪11‬‬ ‫‪II‬‬ ‫‪II‬‬ ‫ا أ ﺀ‬

‫‪٠‬‬ ‫‪٠‬‬

‫م‬ ‫‪g I I I‬‬ ‫ا‬ ‫‪I‬‬ ‫‪см‬‬

‫‪•٨٠٨ ! I‬‬ ‫‪ü‬‬

‫‪*d‬‬

‫‪о‬‬ ‫ي‬ ‫■‬

‫‪ ٠١‬؛‪4‬‬
‫ﺀ‬
‫‪00‬‬ ‫‪٣‬‬

‫‪<N I‬‬ ‫‪ri‬‬ ‫^‬ ‫‪гч‬‬ ‫ﺀ‬ ‫ﻳﻢ‬

‫‪S‬‬ ‫‪٠‬‬
‫‪S.‬‬ ‫‪٢٢١‬‬ ‫‪٠١٠‬‬

‫‪II‬‬ ‫‪N‬‬ ‫‪II‬‬ ‫ا‪1‬‬ ‫ق‬

‫‪٢٢١‬‬ ‫‪٢٢١‬‬
‫‪ I‬ص‬ ‫أم‬ ‫|ق‬
‫‪00‬‬

‫ا ا ا ا ا ا ا " ة ا ق‬

‫ﺀ‬

‫‪OS‬‬ ‫\‪Ç‬‬
‫‪٠٢‬‬
‫‪-0‬‬
‫‪S‬‬
‫‪II‬‬
‫ﺑﻤﻢ‬ ‫‪٢٠٦‬‬
‫‪il‬‬ ‫§ ق‬
‫وو‬
‫ﺀﺀ‬
 T able 26
Existing and ?ro‫؛‬eeted LNG schemes whicb include ( ‫ ؛‬building of LNG carriers

D elivery capacity
N um ber and ‫د‬ (approx. billion
Project C om m encem ent o fs h ip s cu m iyea r)

A. Existing projects
Algeria-United Kingdom . . . . . . . 1964 2 ^ 2 7 ,5 0 0 1.0
A lg e ria -F ra n c e ......................................... 1965 1 ^ 25,500 0.5
(Arzew-Le Havre)
A la sk a -Ja p a n ............................................. 1969 2 x 71,500
Libyan A rab Republic-Spain . . . . . 1971 1 X 40,000
Libyan A rab Republic-Italy . . . . . . 1972 3 X 40,000 3.0
B ru n e i-J a p a n ............................................. 1972 7 x 75,000 7.0
A lg e ria -F ra n c e ......................................... 1973 2 x 4 0 ,0 0 0
(^bllrda-Fos)

Projectedfirm schemes
Abu D babi-Japan . . . . . . . . . . 1976 2x1 ^ 5,000 3.0
i x g7,600
Algeria-United States of America . . ٠ 1976 9 x 1 2 5 ,0 0 0 10.0
In d o n e s ia -^ p a n ................. 1977/78 7X 125,000 10.0
A lg e ria -E u ro p e ................. 1977/78 4X 129,500

،Source; Petroleum Review (L o n d o n ), vol. 28, N o . 331, (July 1974).

BA CA T (barge aboard catam aran) system has a num ber rig. A t the end o f 1973 the following num bers o f units
o f features th a t m ake it significantly di^eren t from the were in service or on o rd e r ; ®‫م‬
established LA SH and SLA BLL systems. There is no T yp e In service On order
hold provided and, as w ith the SLA BLL-type vessel,
J a c k - u p ..................................................... 124 37
there is an elevator fitted to lift the harges instead o f a
S e ،n l-su b m erslb le ..................................... 45 70
gantry crane em ployed on L A SH -type ships. The Drill s h i p ...................................................... 55 14
twin hulls o f the B A € A T ship are n o t suitable for the
carriage o f cargo and the harges are carried between 127. The w orld supply fieet h^s expanded during
the hulls.‫ ®؟‬B A € A T has been designed for the special the last few years to keep pace with the increase in
needs o f the n o rth ern U nited ^ in g d o m -€ o n tin e n t onshore drilling operations. Lxact statistical evidence
bulk trad e an d th e barges will m ainly operate on the concerning the num ber o f vesseis o f this category is
rivers H um her, T ren t and Tees and their extensive canal n o t avaiiahle; it has heen estim ated, however, th a t as
spurs. Special push-tow tugs have been purpose-built m any as 655 units have been in service and ab o u t 240 are
for this o p eratio n .‫®؟‬ on order.®^ In the course o f tim e vessels have hecom e
increasingly sophisticated, ^ h i l e they were initially
{d) Offshore drilling rigs and offshore supply vessels
only used for supply purposes, a num ber o f new units
126. D uring recent years onshore drilling aetivities also have facilities fo r handling anchors th a t rigs need
have increased considerably. These o ^ h o r e aetivities for m ooring and are capable o f aeting as tugs for m oving
have been o f a considerable significance for the ship- the rigs from one drilling location to another, thus
building industry, w hich has heen engaged in the cons- relieving the purpose-huilt salvage tugs o f this task.
truction o f driliing rigs and olfshore supply vessels.
There are three basic types o f drilling rigs employed.
The initial type o f drilling platform produced for use c. Trends in propulsion
in shallow w aters was the Jack-up design. T his unit
has now been Joined by tw o other types for use in deeper 128. In mid-1974 the world m erchant fieet consisted
w ater c o n d itio n ; the drill ship and the sem i-submersihle mainly o f nrotor ships and steam ships, tim latter m ostly
being pow ered by steam turbines. A small num her o f
‫ ؟؟‬Shipping World and Shipbuilder (London), voi. 167, N o. 38‫؛‬
(Apri! 1974). ٠® The Marine Industries— Offshore, special survey by The
‫ ؟‬٠ Cargo Systems (International) (London), vol. 1, No. M otor Ship (‫) ﻫﻬﻬﺄا© ا‬, June !974.
(M arch 1974), p. 15. ٠١ Ibid.

32
 ‫‪о‬‬ ‫‪о‬‬ ‫‪p‬‬ ‫‪p‬‬ ‫‪00 ٢٢ ٢‬‬
‫‪٠٠‬‬
‫|ة‬ ‫‪s‬‬ ‫‪s‬‬ ‫‪s‬‬ ‫^‬ ‫^‬ ‫‪١٥‬‬

‫‪р‬‬ ‫‪О‬‬ ‫‪О‬‬ ‫‪٥٠‬‬ ‫‪as‬‬

‫‪ГА‬‬
‫‪о‬‬ ‫‪о‬‬ ‫‪о‬‬ ‫‪٠١‬‬

‫)‪٠‬‬ ‫‪р‬‬ ‫‪р‬‬ ‫ﺹ‬ ‫‪00‬‬ ‫‪٦‬‬

‫ؤو‬ ‫‪٣٦‬‬ ‫‪٧٦‬‬ ‫‪Tj‬‬ ‫‪40‬‬ ‫‪٣٦‬‬ ‫^‬

‫‪р‬‬ ‫‪р‬‬ ‫‪р‬‬

‫ة‬

‫|‬ ‫ﺀ‬ ‫ة‬ ‫|‬ ‫ﺀ ؛ة‬

‫‪р‬‬ ‫‪р‬‬ ‫‪р‬‬ ‫‪00‬‬ ‫‪١٨٧٦‬‬ ‫•‪٢٠‬‬

‫؛؛ §‬ ‫|‬ ‫ﺗﻊ‬

‫‪о‬‬ ‫‪٠‬‬ ‫‪о‬‬ ‫‪(N‬‬ ‫‪٠٠١‬‬

‫ﻧﺤﺎ‬ ‫‪٣٦‬‬
‫ةقة‬ ‫‪0© 00‬‬

‫ﺀ‬ ‫و‬
‫ي‬

‫‪٩‬‬ ‫‪о‬‬ ‫‪о‬‬ ‫‪٠٠‬‬ ‫‪о‬‬ ‫‪M‬‬

‫‪٥‬‬
‫ه‬
‫ه‬
‫م ‪ ٧٦‬ص ص‬ ‫‪-‬م‬
‫آل‬ ‫و‬ ‫و‬ ‫ت‬ ‫ﻳﻢ‬ ‫ة‬

‫‪I‬‬ ‫و‬
‫‪О О О‬‬
‫‪1‬‬ ‫ئ‬

‫و‪.‬‬
‫؛ ؛‪ ٠‬ﻣﻪ‬

‫‪٠١‬‬ ‫‪٩٦٩‬‬
‫آه‬
‫‪٠١‬‬

‫— ‪١٥ ١٥‬‬
‫^ ‪٣٠١ ٠١‬‬
‫‪٣٦٢١١٢١١‬‬

‫|||‬

‫ﺀة)‬

‫‪I‬أ‬
‫ت‪-‬م‬ ‫‪^о‬‬ ‫‪о‬‬ ‫‪١٨‬‬

‫‪33‬‬
vessels are propelled by gas turbines. T he num ber of clarified w hether international and local agreem ents on
truclear-pow ered vessels In com m ission rem ains constant safety standards will allow the vessels the norm a! nse
a t three ships. T he great m ajority o f the vessels under o f territorial w aters.‫ ’؟‬A nother problem th a t arises
eonstruetion a t the end o f Septem ber 1974, i.e. 2,194 ships w ith norm al operation o f nuclear-pow ered vessels is
o u t o f a to tal 2,333, were m o to r ships. H ow ever, in the question o f liability in case o f dam age. Agreem ents
term s o f tonnage the share was 52.7 p er eent for m otor hased on the Brussels © onvention on the liability o f
ships and 47.3 per eent for steam ships.‫®؟‬ shipowners lay dow n th a t the operator is liahle u p to a
lim it o f ab o u t D M 350 m illion, regardless o f w hether he
129. The diesel engine rem ains the predom inant
is at fault. F o r claims exceeding this lim it the licensing
form o f m o to r pow er fo r ships below 100,000 grt. G f
^tate has to guarantee coverage. H ow ever, there is
ships nnd er construction o r on order a t the end o f
no international law regulating in a precise w^y the
Septem ber 1974 virtually all o f those u nder 30,000 grt
question o f liahiiity o f ow ners and o f the licensing State
were m o to r vessels, as can be seen from table 27. In
for c^lls in foreign ports, and in the m eantim e bilateral
the size group betw een 30,000 grt an d 99,999 g rt the
agreem ents have to suffice.‫؟؟‬
dom inance o f diesel p ropnlsion was som ew hat less
noticeable th a n in the previous tw o years. Jn the size 131. N evertheless, the G K SS ‫؟‬٠ o f the Federal R epu-
group o f 100,000 grt and above, steam turbines rem ain blic o f G erm any, in co-operation w ith shiphnilders and
the pred o m in an t form o f propulsion.‫ ®؟‬T he prices o f shipowners, is planning a nuciear-pow ered container
diesel oil an d fuel oil have evolved qnite differently since ship o f 80,000 shp and an operational speed o f 28 knots
the end o f 1973, an d this m ay en to u rag e the adoption for the N o rth W est E u ro p e -F a r E ast run, and is aim ing
o f diesel engines in the size range o f 100,000 grt and to reaeh a deeision on the construetion o f such a vessel
over either th ro u gh the use o f tw in screws o r through by mid-1975.‫ ®؟‬A lso, Ja p an is considering the eons-
im proved engine technology. A n indication o f this is truetion o f a second nnelear-pow ered vessel, either a
given in press reports th a t several shipow ners w ho had container ship o r a ta n k e r , ‫ *ﺀ‬b u t in the light o f increasing
ordered steam turbine-pow ered ships have attem pted to difficulties in the operation o f the “M utsu” it is doubtful
renegotiate their contracts to have diesel engines installed. w hether any concrete steps will be taken in the near
Diesel engines o f 50,000 bhp p er ship have been ordered future to pursne this project.
fo r five 23-knot contain er ships an d it is considered
th a t th e increasing costs o f operating these vessels—
m ainly fuel costs— in a long h aul snch as from E urope D . Automation and other technological advances
to A ustralia have infineneed the shipow ners’ decision 132. F u rth e r specific developm ents have n o t been
to install diesel prop u lsio n .‫*؟‬ reported in 1974 b u t additional studies have been under-
130. ^inee the rise in b u n k er prices an d the new taken to reduce the num ber o f crew m em bers by m eans
danger o f euts in supplies, interest in studies o f nuelear o f autom ation an d reorganization. In this connexion,
pow er as an alternative to fossil fuel in ship propulsion it has been claim ed in a study carried o u t by the H ansa
has been revived. It has been calculated th at, a t early Shipping G om pany in Brem en th a t a crew o f 12 could
1974 b u n k er prices, a nnelear-pow ered ©ontainer ship suffice for a ©ontainer vessel serving the trade between
with a eapaeity o f 1,000 oontainers w ould break even F n ro p e and the F a r E ast w ithout affecting the operation
w ith a fossil-fuelled vessel a t 24 k nots an d 33,000 shp.‫ ®؟‬o f a vessel o r its security, u n der the assum ptions th at
How ever, sim ilar optim istic calculations were also m ade the sea/port ratio w ould be 94.2/5.8, frequent p o rt calls
on several occasions in the past, b u t have subsequently w ould be o f an extrem ely short duration, the supervision
been revised, particularly as a result o f increasing costs o f cargo w ould be confined to inspecting the holds,
fo r th e eonstruetion o f a nuclear-pow ered vessel.‫ ®؟‬refrigerated eontainers and containers loaded w ith
M oreover, if nuclear-pow ered vessels com e into ope- dangerous eargo.“®
ratio n , n o t only have the questions o f eeonom ic supe-
riority an d o f regular m anning o f an increased num ber ‫ أﺀ‬In (his connexion, it is worth referring to the difficulties
o f sueh vessels to be answ ered, b u t it also has to be faced at sea hy the Japanese nueiear-powered vessel. Because
o f radioactive leaks, it was refused access to ports anywhere and
only after drifting six w e e k in the Pacific was it allowed to enter
٠®Lloyd's Register o fs h ip p in g : Merchant Shipbuilding Return its home port.
(London), third quarter o f 1974. Fairplay International Shipping Weekly (London), vol. 253
٠® On 39 September 1974, 7.4 per cent of the number of vessels N o. 4754 (3 October 1974).
on order in the size ^roup of 100,000 §rt and above were m otor ‫ ؟‬٠ Association for the utilization of nuclear energy in shipbuilding
ships. The corresponding share on 30 September 1973 was 8.3 per and shipping.
cent. {Lloyd’s Register ofship p in g .• Merchant Shipbuilding Return ٠٠ Journal de la marine marchande ‫ﻣﺢ ؛ء‬£ la navigation aérienne
(London), ‫ ﺀ‬orrespondin ‫ ج‬issues.) (Paris), 56th year. N o. 2841 (3‫ ه‬May 1974), p. 1317. Also Fairplay
٠* The M otor Ship (London), vol. 55, N o. 649 (August 1974). /«، ‫ءء‬-»‫ ﺳﻪ'ءس‬/ Shipping Weekly (London), vol. 253, N o. 4754
Fairplay International Shipping Journal (London), N o. 25 (3 October 1974).
(Ju[y 1974). ٠* Seatrade (Colchester U.K.), vol. 4, No. 5 (M ay 1974).
٠٠ Congressional Information Bureau (l^ashin^ton ‫ ﻣﻪ‬€ .), vol. 78, ٠® Journal ،‫ ءا‬la ‫ءءس‬-،'»‫ ء‬marchande ‫ ﺀج‬de la navigation aérienne
N o. ^31 (29 November 1974). (Paris), 56th year. N o. 2847 (11 July 1974).

34
 C hapter ¥
F R E IG H T M A RK ETS
A. General developments
133. In the dry bulk an d tan k er cargo m arkets, the
uncertainty created by the sharp rise in oil prices and
im position o f restrictions on oil shipm ents in the last
m onths o f 1973 was felt in the early m onths o f 1974.
How ever, after a tem porary panse the dem and fo r dry
cargo tonnage recovered an d strong dem and conditions
characterized the m ark et till well into the fo u rth quarter
o f 1974. T he ability o f the m arket in the flrst h a lf o f
1974 to sustain the im pact o f an alm ost continuous
transfer o f com bined carriers an d tankers ‫ ؛؛‬to the dry
cargo trades w ithout this having a depressing effect on
the level o f freight rates, was indicative o f its strength.
134. T he strength o f the dry cargo m arket in the
flrst h a lf o f 1974 was derived from a wide m ovem ent
o f all m ^jor bulk com m odities, particularly grain, ore
and coal follow ing the upheaval created by the oil
situation. Voyage an d tim e ch arter rates fo r m ost
classes o f tonnage help u p a t rem arkably high levels,
^ h ere were, however, noticeable fluctuations in the rates
dnring the flrst six m onths o f 1974 ^nd voyage charter
rates reached their highest level since the 196ds in the
flrst q u arter o f the year w hen the relevant freight index
reached 245 points. T he m ark et was relatively weaker
in the second h a lf o f the year an d freight rates deelined.
The w eakening o f th e m ark et in the m id-year m onths is
fairly norm al in the case o f b o th bulk an d tan k er cargoes.
H ow ever, ^ p a rt from seasonal factors, this w eakening
o f dem and m ay be p artly attrib u ted to the tonnage requi-
rem ents fo r the tra n sp o rt o f grains as com pared with
earlier in th e year. D em and for tonnage for the tran sp o rt
o f grains was reactivated in O ctober an d to ta l voyage
and consecutive voyage fixtures during this m o n th were
a t alm ost the sam e levels as in the corresponding m onth
in ‫ ل‬973 .‫ ﻣﻮ‬A t the beginning o f the last q u arter o f the
year there was, also, a significant reactivation o f the
tim e charter m arket. H ow ever, snbseqnent develop-
٠٠ During 1972/1973, 80 per cent of the deadweight of the
combined carrier fleet was in operation in the oii trades. It dropped
to 71 per cent by the end of 1973 and was at 60 per cent throughout
the first half o f 1974. The volume o f tankers operating in the
grain trade grew from 660,000 tons in December 1973 to 1.8 million
tons in June 1974. (John I. Jacobs and Co. Ltd., World Tanker
Fleet Review (London), June 1974). Also from mid-September
to the end of Dctober 1974, tankers o f 5 6 1 , 0 ‫ س‬dwt were chartered
for the transport of grains as compared with 126,000 tons in the
corresponding period o f 1973 (Westinform (London), N o. 44,
2 November 1974, and ‫ﻣﺢ؛ ه؛‬., N o. 44, 3 November 1973).
٠٠ 7,922,000 tons in October 1974 as compared with 7,913,000
tons in Dctober 1973 (Westinform (London), No. 44, 2 November
1974, and ،■‫ ه‬،'‫ﻣﺢ‬., N o. 44, 3 November 1973).
35
m ents in the freight m arkets in N ovem ber and D ecem ber
clearly dem onstrated th a t the boom in the dry cargo m ar-
ket w hich began in the last q u arter o f 1972 has well
passed its peak.
135. The prospects for the dry cargo m arket appear
to be riddled w ith uncertainties. M uch depends on
how far infiation and the rise in oil prices will affect
econom ic grow th in industrial countries, consequently
also their dem and for im ports, particularly o f industrial
raw m aterials.‫ ؛؛‬N evertheless, som e ob serv ers‫ ®؛‬felt
th a t w orld consum ption o f raw m aterials will begin
to expand in 1975, particularly if oil prices stabilize.
In addition, since the dry cargo m arket is substantially
influenced by grain m ovem ents, the prospects fo r the
next few m onths also depend on the am ount o f grains
traded. The concern a t the end o f the third q u arter
o f 1974 regarding the relatively p o o r crop yield in the
U nited States and the cancellation o f certain sales con-
tracts w ith the U SSR increased the uncertainty in the
m arket. However, against this, reference should be
m ade to the new contract for the sale o f grains concluded
in D ctober 1974 between the U nited States and the
U SSR , and also to increased m ovem ents o f grains from
A rgentina.
136. The situation in the tan k er m arket differed
sharply from th a t in the dry cargo m arket th roughout
the year. A t the beginning o f 1974 the tan k er m arket
was w eak and these w eak dem and conditions persisted
until tow ards the end o f the flrst q u arter o f the year.
Some im provem ent was observed in M arch 1974 after
the lifting o f the oil em bargo, b u t it was short lived and
the m arket was n o t effectively activated. A sim ilar
tem porary recovery also occurred a t the end o f the third
and the beginning o f the fo u rth q u arter o f 1974, perhaps
because o f speculatiou th a t O PE C countries wonld
decide to increase the royalty paym ents from oil com-
panics from 1 O ctober, and also because some oil supplies
were m ade available a t reduced prices by a few G u lf
States in A ugust and Septem ber 1974.‫ ؟؛‬A dded to
٠‫ ؛‬Fears were expressed throughout 1974 o f a possible recession
in the economic growth o f the industrial countries as a result of
higher oil prices. See The Petroleum Economist (London), voi. XLI,
N o. 1 (January 1974), The Shipping Statistics and Economics:
S ix Monthly Review (London), June 1974, published hy H. p. Drewry
(Shipping Consultants) Ltd., London, and OECD Economic Outlook
(Paris), N o. 15 (July 1974).
٠٠ Lam bert Bros Shipping Ltd., World Trade Review and Outlook,
N o. 9: A Review o f Developments in World Trade and Their Effect
٠ « the Shipping M arket (London, September 1974).
٠٢ Westinform (London), N o. 135, September 1974. See also
Zosen (Tokyo), vol. XIX, No. 5 and (August 1974) Journal ٠/
Commerce (Liverpool), 27 September 1974.
this, w inter cam e early in certain p arts o f the N o rthern
hem isphere. A t the tim e o f w riting this Review
(D ecem ber 1974) the oil freight m ark et situation is
gloomy, w ith freight rates again following a dow nw ard
trend. In p articular, freight rates for V TCCs reached
a new low p o in t in the w orld scale (32 ‫ ) ظ‬in D ecem ber
1974.‫ قﺀ‬T he relative decline in oil consum ption in m ost
o f the m ajo r consum ing countries ‫ ﺀﺀ‬caused the dem and
for tonnage to be relatively low during 1974; for example,
only 117 tim e ch arter fixtures were reported in the
first half, com pared with 276 in the same period in 1973 .١٠٠
This low dem and failed to m atch the inerease in supply
thro ug h substantial new deliveries, am ounting to an
increase o f 8.6 per cent in tan k er tonnage in the first
six m onths,“ ، thus leading to a w eak m arket.
137. The situation th a t prevailed in the tanker
freight m arket triggered various corrective aetions from
tanker operators, sueh as switching tankers and combi-
n ation carriers to the dry cargo trades and deliberate under-
utilization o f tonnage through slow steam ing and indueed
w aiting٠‫ل‬
.‫ق‬ I t has heen estim ated th a t the whole w orld
tanker fieet is being operated a t a speed tw o knots
lower th a n norm al, which gives an econom y in hunkers
o f 25 p er cent; it also reduces the tra n sp o rt capacity
o f the fieet by 8 p er ‫ عﺀ‬0‫ ا‬.‫ ﻗﻤﻞ‬A bsorption o f surplus
tonnage th ro u g h reducing productivity by slow steam ing
and induced w aiting goes some way to explain why,
in a situation w ith ap p aren t over-tonnaging, there was
a surprisingly low level o f laid-up tonnage in 1974
(see parag rap h 164 helow).
138. T he future prospects fo r the tan k er m arkets
are n o t very encouraging. M uch depends on the levei
o f oil consum ption by industrial eountries, w hich in
the sh o rt ru n is dependent o n the level o f econom ic
activity and in the longer ru n on the outcom e o f urgent
studies which countries are m aking o n how to diversify
their sources and types o f energy used. In general,
however, dem and fo r tankers is n o t expected to recover
quickly, while at mid-1974 there were nearly 195 m illion
dw t o f tan k er tonnage on order for delivery in the next
few years. A ssum ing no suhstantial caneeiiation o f
orders, a surplus o f 25 to 8‫ ه‬m illion tons by the end
٠٠ Lloyd’s List (London), 5 December 1974.
٠٠ See OECD Economic Outlook (Paris), N o. 15 (July 1974),
The Petroleum Economist (London), vol. XLI, N o 7 (July 1974),
and Fairplay International Shipping Weekly (London), vol. ^5^,
N o. 4752 (19 September 1974).
١٠٠ Fairplay International Shipping Weekly (London), vol. 252,
No. 4745 (August 1974).
١٠١ Lambert and Bros Shinning Ltd., World Trade Review and
Outlook, N o. 9: A Review o f Developments... (op. . ‫ﺀ‬،'‫؛‬.‫ر‬
١٠٠ Shipping World and Shipbuider (London), vol. 167, N o. 3895
(July 1974). A t the last week o f November, about 2 million tons
of tinkers were idle in the Persian G ulf area and this tonnage
increased to about 4 million dwt at the last week of December 1974.
R .S. Platou, ‘T an k er: Weekly Tanker M arket R enort” (Dslo),
27 November 1974 and 22 January 1975.
١٠٠ See Journal de la marine marchande et de la navigation aérienne
(Paris), 56th year. N o. 2856 (12 Sentember 1974), П• 2367, where an
article by Svensk Sjofarts Tidning, organ o f the Swedish Shinowners
Association, is reviewed. According to another estimation, by
cutting the s n ^ d of a ¥ L € € 25 ner cent, 59 ner cent o f bunker
eonsumntion could be saved. (John 1. Jacobs and Go. Ltd., World
Tanker Fleet Review (London), 39 June 1974.)
36
o f 1975, rising to 160 m illion tons in the following two
)?ears, w^s heing serious!)? predicted.“ ،
139. The nncertaint)? regarding the im m ediate future
o f the tanker m arket is further aggravated by th e like-
lihood o f the reopening o f the Suez C anal in 1975. It
has heen estim ated th a t this w ould reduce the dem and
for tankers by 10 per eent.^®‫ ؟‬f t appears therefore
that, unless som ething extraordinary happens, in the
next few m onths m ajor steps are likely to be taken to
reduce surplus tonnage through increased laying up,
scrapping, and the caneeliation o f orders.
140. C urrency instability, whieh was so m arked in
1973, persisted, although w ith less intensity, in 1974.
This, coupled w ith high rates o f iufiation, raised the
question o f the elhcacy o f the long-term charter arran-
gements which are such a hasic feature o f w orld trad e in
oii and other hasic com m odities. A solution to w orld
m onetary and other économ ie problem s is, o f course,
the m ost desirable way o f resolving the doubts ah o u t
the future o f long-term chartering. A lternatively, ways
m ight he sought o f adapting chartering to the unstahle
m onetary and econom ic conditions by, fo r exam ple,
some form o f indexation o f eharter rates.
141. In the liner trades, a num ber o f freight rate
increases th a t were announced in late 1973 cam e into
e^ect early in 1974, and fu rther freight rate increases
were announced during 1974. G onsequently, the liner
freight index Jum ped by 21 points in the hrst q u arter
(see table 28). T iner freight rates showed a rem arkable
and consistent rise for the rest o f 1974. By the end o f
July the freight index had increased by 35 points over the
end o f 1973 figure (134) and stood a t 189 as against
139 points for the corresponding date o f 1973. The
index rose further to 194 points in the th ird q u arter o f
the year, and to 197 points at the end o f December.
B. Changes in freight rates in 1974
1. D ry cargo tramp m a rke tfre ig h t rates
(a) Voyage charter freig h t rates
142. The developm ents in the dry cargo m arket
discussed in section A above are refiected in the m onthly
freight rate indices for 1974 show n in tahle 28. It can
he observed from the table th a t the m onthly index for
dry cargo voyage charter freight rates rem ained a t very
high levels during the first h a lf o f 1974, although a t the
end o f June it stood a t 226 points as against 241 a t the
end o f D ecem ber 1973. A further decline was registered
in the third and fo u rth quarters o f the year, h u t no
fundam ental change is in sight a t the tim e o f w riting
(D ecem ber 1974). A lthough such a ehange cannot
be excluded, because o f the sharp increase in bunker
costs it is difiicult to envisage freight rates declining to
the levels w hich prevailed hefore the upsurge in the last
m o ^ h s o f 1972, unless there were a m ajor w orld econom ic
depression. By way o f com parison, selected m axim um
١٠٠ John I. Jacobs and € o . Ltd., World Tanker FleetReview
(London), 30 June 1974.
١٠٠ OECD Economic Outlook (?ar!s). N o. 15 (July 1974).
 ‫ﻳﻢ‬ ‫‪о ٠١ ٣٦‬‬

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‫?‪3‬‬
and m inim um tram p freight rates in the ‫؛‬/ears 1970 to
1974 are show n in anne^ VII.
(b) Time charter fre ig h t rates
143. T he tim e ch arter freight inde^ h ad also declined
from 358 points in the fo u rth q u arter o f 1973 to 322 points
in the second q u arter o f 1974 and 251 i n ‫؛‬h e t h ‫؛‬r d q u ‫ ؛‬rter
o f 1974, b u t it rose shghtiy in the fo n rth q u arter o f the
Tonnage groups index
year to 257 points (see table 28).H owever, this over-all
picture o f the tim e charter m a r ^ t does n o t accnr^tely
reflect the particu lar developm ents w ith regard to the
m ain size groups o f tonnage covered by the index. This
is shown below : ١٠®
loe Based ٠« (he time eharter index numbers compiled by (he
United Kingdom Uhamber of Shipping.
C om bined
index

Change Change Change

Q uarters ‫م ﺀ‬، ‫ ﻣﺎ‬-/ ‫ام ﺀ‬ (P er cen t) ٠‫مد‬ ) ‫■ رﺀم‬
cen t) Over ‫ ﺻﺺ‬،‫ﻣﺮ‬ Per cen t)( Change

1st1 9 7 3 . . . . . . 178 186 138 175

+ 29 + 22.5
2 n d l9 7 3 . . . . . 218 216 178 212
+ 11.8 + 17.9
1973
3rd . . . . . 261 199 267
+ 26.6 + 34.1
1973
4th
... ٠٠ 350 252
+ 8.7
1974
1st . . . . ٠٠ 310 312 277 307
+ 7.1
1974
2nd . . . . . 335 317 296 322
- 4.7
1974
3rd . . . . . 212 282 251
+ 2.82
1974
h(4 . . . . . 223 271 257

144. It can be observed from these d a ta th a t the т а г у o f freight rate changes is given in table ^9, together
indices fo r the three size groups eaeh followed quite a with corresponding flgures for 1973 and 1973.
different course, particularly dnring 1974. In fact, the 147. It can be seen from the above flgures th a t the
index for 9,000— 16,000 dw t vessels reached its highest nnm ber o f straight liner freight rate increases in 1974
level only in th e m iddle o f 1974 an d dropped only (143) was signiflcantly low er th a n in 1973 (194) but,
slightly during the second h ^ lf o f the year, w hereas at as is shown below, the size o f increases was substantially
the o th er extrem e the index for bulk carriers o f over greater than in 1973.١٠®
40,000 dw t lost 186 points betw een the fo u rth q u arter
o f 1973 an d the th ird q u arter o f 1974 and, alth ough it
Summary nf straightforward in ! in freight tarriffs *
rose slighly dnring th e last quarter, it cam e back to a
level only slightly higher th a n in the second quarter ‫ﺀ ا‬/‫ل‬ 1974
o f 1973. Between the tw o extrem es, the index for
vessels o f 30,000—40,000 dw t also reached its peak in N um ber Percentage N um ber Percentage
٠/ o f to ta l ٠/ ‫م‬/،‫ م‬،‫س‬
the fo u rth q u a rter o f 1973, b u t declined less sharply S ize group o f increase increases increases increases increases
during th e flrst three quarters o f 1974 th an th e index
for vessels o f over 40,000 dw t and rose slightly in the ‫ﺭﻭﻡ‬
U nder 5 % . . . . . . 4
fo n rth quarter. 5 and less than 7.5 “/ ‫ال‬ 19 (12.1) 8 (6.3)
145. T he developm ents in the tim e charter indices 7.5 and less than 10.0"/© (5.1) ‫د‬ (2.3)
10 and less than 12.5"/© 64 (49.8) 26 (29.3)
described above dem onstrate a relative increase in dem and
12.5 and less than 15.0"/© 26 (16.6) 13 (19.2)
for small, m ostly m ultideck, vessels, suitable fo r carrying (17.2) 59 (46.1)
15 and less than 20.0"/©
general cargoes an d em ploym ent in liner trades, and 20"/© and o^er . . . . (5.7) 19 (14.8)
also for m edium -sized carriers offering a wide flexibility
w ith regard to b o th routes in which they can be employed 157 (100.0) 128 (100.0)
and cargoes they can carry. It rem ains to be seen
w hether the developm ents which occurred in the freight * Excluding an n o u n cem en ts w hich (a) referred to a flat inerease in te r‫؛‬tt$ o f
am o u n t o f m oney ^٠٢ u n it o f carg o (th e re w ere 13 su ch an n o u n cem en ts in t^ e
indices during the last q u arter o f the year p o in t to the year 1974 as ag a in st 11 in 1973); (،>) d id n o t specify th e percen tag e increase (there
w as o n e such an n o u n c em en t in 1974 as eo m p ared w ith 26 in 1973).
beginning o f a change in the p attern observed to date.

3. Cargo linerfreig h t rates
146. The changes in liner rates and surcharges ١٠‫؟‬
announced in 1974 are show n in annex V III. A sum-
١٠٢ ? o rt congestion surcharges not being of general application
in a tra4e are not inelu4ed among the liner freight rate changes
listed in annex VIII.
It C^n be seen th ^ t 6^.9 per cent o f the totul num ber o f
increases in 1974 were o f 15 per cent o r m ore, as com pared
with 33.9 per cent corresponding increases in 1973 ^nd
only 9.8 per cent in 1973. T he m odal size o f increase
١٥‫ ^ ؟‬o r the corresponding data for 1972, ‫؛‬ Review o f maritime
transport 1972-1973 (op. cit.), para. 175.
 T able 29
Summary of liner freight rate changes and surcharges announced
during the years 1972-1974

N um ber a ffre ig h t ٢ ،،?، changes ^

T ype a ffr e ig h t rate changes 1972 1973 1974

General Increases in freight tariffs . . 194 142

General freight increases partly offset by
incorporating into the tariffs part or al
of pre-existing surcharges . . . . . 29 11
Announcements o f new surcharges or 0
increases in pre-existing surcharges، 119 348 311
C A F (currency adjustment factors) 47 166 118
B u n k e r.................................................. 155 168
Bunker/CAF combined . . . . . 12
Others (preshipment, emergency, hand
ling, ianding, storage, etc.) . . .
Sub-total 553 457

Oases where pre-existing surcharges were

incorporated into tariffs through cor-
responding increases in tariffs . . . . 17 16 16
Cases where surcharges were reduced o r
cancelled w ithout being incorporated
into tariffs 33 185

T otal

S o u rce: C om piled o n th e basis o f annex V ÏII ‫ ا ﻣﻆ‬0 ‫م ^ ا‬

‫ ه‬T he n u m b e r o f freight ra te a n d su rch arg e changes su m m arized (658) is g reater th a n th e n u m b e r o f an nouncem ent^
(607) show n in annex V III because, as in prev io u s years, in several cases o n e an n o u n c em en t carries m o re th a n o n e change.
١١ In 1974 th e re w ere 1^ an n o u n c em en ts o f new com b in ed C A F a n d b u n k e r su rch arg es o r o f increases in pre-existing
surcharges th a t are n o t show n in th e table.

in 1973 was in (he size g rcu p ١٠ p er cent and )ess than
12.5 p er cent, w hereas in 1974 it was 15 per cent and
less th a n 20 per cent.
148. As in 1973 the changes in liner freight rates,
particularly during the first q u arter e f 1974, were charge-
terized by the great num ber ©f b u n k er surcharges imp©sed.
In to tal, there were 168 announcem ents o f new or
increased b a n k e r surcharges in 1974 as against 155 in
!973. In addition, 12 new or increased com bined
bun k er/C A F surcharges were announeed in 1974.
F urtherm ore, the bunker an d com bined sureh^rges
im posed were relatively high; for exam ple, m ore th an
h a lf o f the announcem ents o f b unker surcharges stated
as a percentage o f freight rates fell w ithin the rang© of
15 per cent an d over, while th e eom bined bunker/C A F
sureharges all fefi w ithin the rang© o f 25 per eent and
over. T here was, however, a noticeable slowdown in
the num ber o f announcem ents after the first q u arter o f
the y ear; (here were, in addition, 88 announcem ents
o f decreased b u n k er surcharges an d one b unker sur-
charge was ^boiished w ithout having been incorporated
in the ta riff
149. In the latter p a rt o f th e year there was an evident
tendency for b u n k er surcharges to be in corporated in
the tariffs. In all, 19 b unker surcharges were ineorpo-
rated, 14 o f these during the last q u a rte r o f th e year.
Such a developm ent indicates an aeeeptanee th a t inere^sed
b unk er prices can no ionger be regarded as temporary.
H ow ever, 1‫ إ‬may be doubled w hether the butrker price
situation is yet stabie enough to justify this action, and
the incorporation o f bunker surchar§es at the !evels at
w hich they existed in 1974 m ay weli be prem ature.
150. Shippers in certain trades have com plained th a t
shipowners reacted m uch to o severely in their im position
o f bunker surehar£es *٠® and th a t the maiffienance o f
these surehar^es by conferences eould only be expi^ined
as a m eans o f enhancing shipowners profitability .**٠
In the trades o f one country a t least, a specific form ula
has been agreed u p o n *** by liner operators and shippers
fo r the assessment o f a p roper level o f bunker surcharges,
b u t generally it does n o t ap p ear th a t a solution has been
found w hieh could satisfy b o th sides, partieuiarly in
*٠٠ In ‫ئ‬/‫ ﺀ’ ﻣﺤﺮ م‬L ist (Tenden), 21 February 1974, it was stated
that a resulutien was passed 15 shippers councils in Furope
appealing to shipowners to keep bunker su r^ a rg e s as low as possible
as these surcharges had reached a levei where they have become
prohibitive to the trade on various routes. See also 1«،/‫ه» م' ﺀس»مﺀ‬
‫اآ‬- ‫ ﺀﻣﻤﺘﺲ‬-‫م ) ه» آ » ﻣﺮ ﺀ‬/ ^‫ﺀﺀ‬-‫ ﺀﺀ و؛ه ﻣﻢﺀﺀ‬/ ‫( ر‬Basei), 35th year. N o. 1‫ه‬
(8 M ar^h 1974), p. 1‫ ه‬51‫م‬
‫ر ْﻠﻞ‬، ‫ ﺀج ﺀﺀ'ا"ﺀس ﺳﻤﺄ‬Gazette (То^уо), 5 August and 29 August
1974.
*** The Central Freight Bureau o f Sri Lanka reached agreements
with the Ceylon/United K ingdom and the Ceylon/Continental
Conferences providing th a t in the future the eonferenees will adopt
a mutually aeeeptable formula for ealculation o f bunker and CAF
smeharges. Furtherm ore, the conferences are to furnish infor-
motion and supporting data to justify sueh sureharges {Seatrade
(Colchester U.K.), vol. 4, No. 7 (July 1974)), p. 78.
view o f other qdditiooql eorreetive measures t^keu by
litter o p erators to reduce the e ^ c t o f the increased
b unker costs.
151. $uch m easures as’ reducing curtailing
the num ber o f sailings an d the num ber o f calls m ade
at ^o rts, as well as n o t calling a t interm ediate ^orts,
have significantly altered the e je c ts o f rising bunker
prices, while they have also changed th e over-all cost/
revenue relationship o f th e liner o p erators concerned.
Indeed, reduced speed m eans longer ro u nd voyage
times, p artly o ^set by the curtailing o f the num ber o f
p o rt calls. Buch m easures also tend to increase space
utilization. A reduction in the num her o f sailings
should also free carrying capacity for em ploym ent
elsewhere, perhaps in the open m arket. F o r sueh
reasons, while it is clearly possible to assess the position
i^ an individual trad e, it is very difficult indeed to Judge
th e reasonableness o f the levels o f b a n k e r surcharges in
general. I t is w orth noting, however, th a t according to
press reports liner operations have recently shown
increased profitability an d th at, in the case o f Japanese
liner com panies, increased profitahility was stim ulated
hy “rationalizing” their operations, by cutting dow n
their sailings and lim iting their p o rts o f 03‫ ا‬1.‫ﻗﻠﻞ‬
152. T he corrective m easures tak en by liner operators,
coupled w ith delays in ports an d increased dem and for
liner services, resulted in m any trades in a very tight
tonnage situation. Particularly during the first and
second q u arters o f 1974, a general shortage o f tonnage
developed, causing serious problem s to shippers .١١٠
The argum ent advanced by shipow ners to defend their
position was th a t the scarcity o f tonnage w^s the direct
result o f p o rt congestion an d slow tu rn ro u n d o f ships at
‫ ﺀ‬0‫ ^ ة ﻟﻠﻤﺔ اآ‬h i l e there was undoubtedly som e deterio-
ratio n in th e perform ance o f certain po rts, it is difficult
to accept th a t this could h^ve been sufficient to have
caused a shortage o f tonnage as w idespread as th at
w hich existed. I t appears th a t the previous tendency
for liner operators in industrial countries to shift to
containerization o f their m ajor liner trades, so th a t the
building o f conventional liner tonnage was neglected,
th reatened to reduce below any desirable standards the
fie^ibility o f shipping services in the liner 1‫ ﻫﻜﻌﻚ‬8.‫ﺀﻟﻞ‬
١١٠ 1‫ ا‬was reported th at speeds were reduced by 1 to 1 '/‫ ت‬knots
and estimated th at in this ^ a y a 16/17 knot cargo liner ship could
cut consum ption by about 20 per cem, because It is at the higher
range o f speeds th at fuel concumption accelerates significantly
{Fairplay International shipping Weekly ( London), vol. 250, N o. 4724
(7 March 1974).
١١٠ ‫ء‬/‫(ءء’ءء ء’ ﻣﺣﻣم‬London), 31 Gctober 1974. Bee also ‫ر‬،‫ ﻣﺎ‬،‫«ا‬
Maritime Gazette (Tokyo) II November 1974.
١١١ F o r example, by the end o f August 1974 it was estimated
that there would be something li^e 60,000 tons o r m ore o f goods
waiting for shipment from the United Kingdom to Australia
and New Zealand alone. Journal ٠/ ‫ا ﺀﺳﻢﺀ‬- ‫( ﺀﺀ‬Liverpool),
22 July 1974. € f. also ibid., 13 February, 19 May, 20 May, 8 July
and 22 July 1974,‫ئ‬/ ‫ ﺀﺀ’ ﻣﺤﻤﻢ‬/ ‫( ﻣﺢ‬Londoffi, II June 1974, and Shipping
and Trade News (To^yo), 2 August 1974.
١١٠ ‫ ﺀﻣﺮ‬/‫ ﺀ‬-‫ س‬/٠/ Commerce (Liverpool), 28 May and 17 Gctober
1974, a n d ،'‫( ؛ ﺀ‬London), 25 M ay and 20 July 1974.
‫ﻣﺤﻤﻤﺎﺀ’ﺀﺀ‬
١١٠ It was reported in the Journal ٠/ ‫اءﺳﻪء‬-‫ءء‬ (Liverpool),
19 M ay 1974, that the shortage o f shipping space that developed
in the first half of 1974 was a worldwide problem and partly attributed
to ffie containerization o f m ajor trade routes. The replacement o f
However, the increased orders for générai cargo and
m ulti-purpose vessels since 1973 m ay alleviate this risk.
153. fn 118 cases, currency adjustm ent sureharges
were introduced o r increased as a result o f the weakening
o f the dollar vis-à-vis other currencies during 1974,
This action in itself raised strong objections from shippers,
w ho argued th a t the w orld m onetary situation in the
first h^lf o f 1974 h^d stabilized enough to allow confer-
ences to abolish o r reduce currency In
fact, 87 reductions o f currency adjustm ent factors were
announced during 1974.
154. The very frequent and sharp increases in liner
freight r^tes in the last tw o years have caused grave
concern am ong shippers, particularly in developing
countries, who in the last analysis are the ares th a t hear
the brunt.^“ ^ i t h liner freight rates changing at
frequent intervals, shippers have increasingly found th at
one o f the supposed advantages o f the conference system,
nam ely stability o f freight rates,^^® has hardly existed.
W hile bunker costs, com bined w ith general infiationary
trends, have undoubtedly contrihuted to the rise in liner
freight rates, it is d i^ c u lt to accept th at such a consistent
rise can be explained purely by these two factors. M any
shippers, faced w ith rate increases o f over 15 per cent
plus surcharges, m ust have found th eir freight bills
increased by as m uch as ^5 to 3‫ ه‬per cent, ©ne cannot
help thinking th a t the rise in liner freight rates cannot
be fully explained w ithout taking into account as an
im p o rtan t elem ent the strong dem and conditions which
have generally characterized all dry cargo m arkets since
1973. I t has heen reported th a t shipper’s eouneils o f
countries m em bers o f the A ssociation o f South-E ast
A sian N ations (A SEA N ) have asked their respective
governm ents to conduct a prohe into the activities o f the
F a r E astern E reight ©onference (FE FC ), which would
n o t he restricted to the question o f ta rilf increases alone,،®®
conventional tonnage had rednced the fiexibilit^ and restricted the
operation of sonre shipowners. According to another press report,
steel producers in Europe have also been complaining that, because
o f investment policies by shipping companies in eontainer ships,
they have been experiencing shortage o f conventional tonnage
space, particularly ^ r those commodities th at cannot be transported
in containers {International Ttransport Journal (Overseas ‫ر ﺀ ئ ﺀ ؤ؛ ﺀ‬
(Basel), 35th year. No. 46 (15 November 1974)), p. 5393.
،،‫ ؟‬F o r example, the Freight Gommittee o f the Council of
All-Japan Exporters Association (CAJEA) demanded that the
conferences reduce or aboiish their currency surcharges because
the value o f the yen had stabilized at a lower figure than Y 300 to
the dollar. Japan Maritime Gazette (Tokyo), 8 February 1974.
١١٠ According to press reports and other information, shippers
organizations in several countries, including Japan {Japan Maritime
Gazette (Tokyo), 13 and ^0 August 1974), Malaysia and Singapore
( L ist (Fondon), 24 September 1974), A ustralia {Fairplay
‫ﻣﺤﻤﻤﺎﺀ’ﺀ‬
International Shipping Weekly (Fondon)), vol. 251, N o. 4734 (16 May
1974), Hong Kong {Shipping and Trade News (To^^o), 22 July 1974),
have strougly reacted to proposed liner freight rate increases in
their trades.
١١‫ ؛‬It was reported in ‫ ﺀ‬/ ‫ ﺀ’ ﻣﺤﻤﻢ‬List (F o n d o ^ , 23 August 1974,
th at Indian shippers complained th at conferences were impeding
the export trade o f India and did not e ^ c tiv ei^ perform their
primary functions o f providing regular and frequent services to
the trade at stable prices.
١٠®‫ر‬،‫ ﻫم؛‬/‫ ي‬Maritime ‫ﻫﻣﻣم‬،،‫( ء‬Tok^o), 28 ©etober 1974. See
also ‫ ﺀ‬/ ‫ ﺀ’ ﻣﺤﻢﺀ‬List (L o n d o ^ , 5 September 1974, where it has been
reported that a common front was sought b^ the Shippers councils
o f A SFAN countries.
and also to give fuh su p p o rt to the shippers’ councils’
counter-proposals to the FEFC.*®* T he G overnm ents
o f M alaysia, Philippines an d Singapore have sent pro test
notes to the FFFC.*®® The F E F C postponed tiii
1 Jan u ary 1975 the entry in to force o f the announeed
freight increases so th a t fa rth e r consultations could be
held.*®®
155. T he resistance o f shippers to increases in liner
freight rates has been m ore effeetive in trades where
relatively few large shippers are involved o r where
dem and fo r their services is eonsoiidated. Proposed
freight rate inereases by a num ber o f shipping confer-
enees *®* in the export trad e o f Jap an have, u p to the
tim e o f w ritiug, been blocked by the strong resistance o f
the Jap an A utom obile M anufaetu rers’ A ssociation,
whieh pressed to have the rate o f car exports declared
open. In addition, the A n t r a l F reight B ureau o f Sri
L anka has stipulated th a t freight has to be p aid loeally
and has been blocking m ore th an $500,000 o f freight
charges as a result o f disagreem ents o n th e level o f
b unker surcharges im posed by the C eylon/U SA Gonfer-
once .*®‫ ﺀ‬T he C entral F reight Bureau reacted strongly
to a deeision o f the C e y lo ^ U S A Conference th a t freight
rates m ust be p aid a t destination rath er th an loeally.
A eeording to press reports, the B ureau w ithheld cargo
from op erators in (he conference until th e operators
com plied w ith its decision.*®®
156. I t has aiso been observed th at, in trad© routes
where there has been a relative oversuppiy o f liner
tonnage, earriers have been com peting for cargoes at
rates low er th an those set in the tariffs.*®’ I t m ay be
th a t com petition m ay also develop where shippers can
eonsolidate their e^rgo shipm ents w ith the aim o f m aking
them attractive also to nom conferenee tonnage operators.
3. Tanker freig h t rates
157. T he w eakness o f the tan k er freight m ark et and
the fiuetuations observed in !974 in chartering aetivities
are refieeted in the tan k er freight index. T he index fel!
from 390 *®® in O ctober 1973 to 98 in A ugust 1974, b u t
rose to 115 in $eptem ber 1974, the last m o n th fo r whieh
inform ation based on this index is available.*®®
158. As from Jan u ary 1974 the index was replaeed
by separate indices for five tonnage categories;
*®* Lloyd's ‫ﺀ‬،'‫( ﻣﺢ‬London), 12 October 1974.
*®® Financial Times (London), 29 October (974.
*®® Lloyd's List (London), 9 ‫ ل‬October D74.
*®* Japan Maritime Gazette (Tokyo), 13 November 1974.
The Conferences involved are the Australian/New Zealand/Eastern
Conference, the Japan Thaiiand Erei^ht Conference and the com
ferences serving the trade routes Japan/Africa and Japan/Latin
America.
*®‫ ؛‬Ceylon Observer (Coiombo), 25 October 1974.
* 3 1 ,. ‫ ؛‬٠ / ‫ ه‬/‫ ﻣﺢ‬October !974.
*®’ Japan Maritime ‫( ﺀﺀ؛ ﺀﺻﻪ‬Tokyo), 13 November 1974.
*®® A t 399 points the index had reached its highest level since
the K orean war.
*®® Inform ation compiled and communicated to the UNCTAD
secretariat by Norwegian Shipping News (Oslo), for the purposes
of the Review.
41
(й) VLCC and U L C C (about 150,000 dw t and larger);
(‫ ) ﺀ‬M edium-size crude carriers (about 60,000 dw t to
around 150,000 dw t);
( ‫ )ﺀ‬Small crude carriers ^nd p ro d u ct carriers (about
30,000 dw t to 60,000 dw t);
{d) Handy-size dirty (up to a b o u t 30,000 dw t);
(‫ )ﺀ‬H^ndy-size clean (up to ab o u t 30,000 dwt).
159. A ccording to the source *®‫ م‬several reasons mad©
this ehange desirable; fo r instance,, developm ents in
recent years have cleariy shown th a t V LCCs and U LCCs
will increasingly dom inate the tan k er freight m arkets and
it appears th a t the present !evel o f freight rates for these
sizes o f vessels m ust be regarded as m ore “n orm al” th an
the level o f rates w hieh prevailed in the m arkets in the
reeent past. the other hand, freight rates for the various
categories o f smaller size groups tend to follow different
patterns an d it appears likely th a t gaps betw een the
rates fo r the various size groups m ay widen fu rther in
the future.
16d. Lhe new indices are show n separately in table 28.
f t can be seen from the table th a t ah five indices deelined
during the period January-A ugust 1974, but w ithout
all following the same pattern. In addition, the rate o f
over-all decline in this nine-m onth period varied between
the indiees for different size groups. In Septem ber 1974
the index fo r V L C C /U L C C dropped by 52.1 per cent
from its end-of-January lev©!, as eom pared with a deciine
o f 49.3 per eent for handy-size ©lean tonnage, 44.5 per
cent for medium-size ©rude carriers and aro u n d 38 per
cent for smail ©rude and p ro d u et earriers, and handy-size
dirty carriers. Lhe inere^se recorded in O ctober 1974
w^s only short-lived and in N ovem ber all indiees drop-
ped weil below their Septem ber 1974 levels.
c. Freight rate Indices of selected commodities exported
by developing eonntries
161. The Com m ittee on $hipping o f U N C T A D at
its sixth session in July-A ugust 1974, after considering a
secretariat report entitled “F reight rate indiees”,*®*
requested the secrétariat to ©ontinue the w or^ on the
freight rate indices for four selected com m odities exported
by developing eountries, i.e. eocoa, eotton, rubber and
tea, and to publish them regularly in the Review o f
M aritim e T ransport.
162. The updated freight rate indiees for (he four
selected com m odities as well as the com bined inde^
through the third q u arter o f 1974 are contained in
tabie 30. As can be seen from (able 30 the com bined
index rose by 29 per eent o r from 159 to 205 between the
end o f $eptem ber 1973 and $eptem ber 1974. The
indiees a t the end o f the period (base 100 = 968‫ ) ؛‬were
as follows:
€ ٠٥٠^ 193
C o tto n 224
*®‫ م‬Inform ation communicated to the U N C TA D secretariat
by Norwegian Shipping News (0$!o).
*®* TD/B/C.4/111 and Corr.l and Add.l.
 T able 30

Indices of 1 ites of selected commodities exported by developing conn(r!<‫؛‬s

(Indices at end o f quarter. 1968 = 100)

Com modities

Year Q uarter Cocoa Cotton Rubber Com bined

1968 100.1
II 99.6 99.5
III 100.1 100.0
!٧ 101.8 100.1 100.3 100.9

1969 103.9 100.1 103.3 102.6 102.2

II 105.2 100.1 103.7 102.6 102.6
III 105.8 103.1 103.1 102.6 103.4
IV 106.9 104.8 102.3 101.2 103.5

1970 T 109.8 106.4 103.4 101.1 104.8

11 . . . . . . . 109.8 106.6 103.5 101.1 104.9
TU - 114.9 107.9 104.6 105.5 107.3
IV . . . . . . . 116.1 110.^ 105.1 105.9 108.5

1971 I 120.7 115.1 112.5 106.3 113.3

II . . . ٠ . . . 120.9 116.7 113.0 111.4 115.0
Ill ٠ . . . . . . 126.1 127.1 116.3 118.3 121.6
IV . . ٠ ٠ . . . 131.5 130.4 119.8 120.7 125.1

1972 135.1 135.5 132.2 129.9 133.^

II 134.2 136.0 131.1 129.0 132.7
III 134.4 136.7 133.6 130.7 134.1
IV 135.5 137.3 130.6 131.1 135.5

1973 T 147.6 153.0 143.0 142.6 146‫ام‬

II . . . . . 157.7 162.4 146.1 147.1 153.:
Ill . . . ٠ . 159.7 166.7 157.0 147.5 158.(
IV ٠ . . . . 165.0 175.1 168.1* 163.9 170.(

1974 187.3 190.7 193.7*

II 192.4 207.7 200 . 8 * 195.4 200.7*
III 1 9 2 .5 200.4* 191.3 204.9*

S o u rces: Compiled on the basis o f trade data and freight rates supplied to t^e secretariat by the Governments or
trade organizations, conferences and shipping lines concerned, and on trade data from the following publications;
A nnual Bulletin o f Statistics, published International Tea Committee (London), various issu‫; ؛؟‬
Rubber Sta tistica l Bulletin, published by t‫؛‬te secretariat o f the I^ernationa! R ubber Study G roup (London), various issues;

C o^îon^wôrlfsïad^U cs, ^uhi^shed h‫^>؛‬he‫ ؛‬inte‫؛‬-natio^ai C otton Advisory Committee (W ashington, 0 .C .), various issues.
٠ Provisional.

R ubber 200 * between the changes in the level ‫ آه‬freight Tates and
changes in the level o f laid-up tonnage in the sh o rt as
Combined . . . . . . . . . . 205 * well as in the long term and this is illustrated in graphs 1
* Provisional.
and 2 covering the ‫؛‬/ears 1968-1973. T he freight rate
indices are show n on the right-hand vertical axes and
This over-all increase was partieularl)/ sharp betw een the the corresponding changes in laid-up and strap p ed
end o f the th ird q u arter o f 1973 an d the flrst q u arter o f tonnage as percentages o f w orld tonnage on the left-
1974 (22 p er cent in th e com bined index), reflecting to han d vertical axes.
a considerable extent the introduction o f new o r increases 164. T he relationship betw een laid-up tonnage and
in pre-existing b nnker surcharges in th e course o f these freight rates in the tan k er m arket did n o t conform to
quarters, as can also be seen from annex VII. this usual p attern in 1974. T he am o u n t o f laid-up
tonnage decreased in the h rst and second qu arters o f
D . The level of freight rates, 1974 at a tim e w hen freight rates declined snbst^ntiall‫؛‬/.
A t the end o f the second q n arter, laid-np tan k er tonnage
laying up and scrapping
as a percentage o f the w orld fleet stood a t 0.08 per cent
163. f t has been generally observed th a t the am ount w ith the tan k er freight rate inde^ at 103, while fo r the
o f laid-np tonnage will be low when freight rates ^re at corresponding period in 1973 laid-np tonnage was
a high level an d vice versa. A negative relation exists 0.27 per cent and the freight rates index 267. A t the
 G raph
The course o f freight rate indices and laying-up and scrapping ‫ت‬ ! ofvrorld tonnage, 1968-1974
Dry cargo vesseis
? e r ce n t o f w orld ٠٢ ^^ carg o c h a rte r
dry ca rg o fleet freig h t ra te indices ٠
:3 5

235
225

0.30

0‫ د‬5

0.20

0.15

0.10

0 * L t 973 '1974 — j

N orw egian $ h i^ ^ in g N ٥١^^: d ry carg o voyage c h a rte r freig h t ra te index (Ju ly 1965-
Ju ly 1966 100 ‫) ﺀ‬
L a id -u ^ dry carg o to n n a g e as a p ercen tag e o f w o rld d r^ carg o fleet
C h am b er o f S hipping o f U n ite d K in g d o m : d ry carg o voyage c h a rte r freig h t rate
index, d iscontinu ed since 1969 (I9 6 0 = 100)
S crapped dry carg o to n n a g e as a percen tag e o f w orld d ry carg o fleet

٠ C h am b er o f S hipping o f th e U n ited k in g d o m in d e x : (1969 100 ‫ ) ﺀ‬N orw egian S h ip p in g N ew s

in d e x : (July 1965— July 1966 = 100).
S o u rces:
(٥) F reight rate indices ; T a b le 31.
(‫ )ﺀ‬L aid-up tonnage ^‫آﺀه‬،>; com piled by th e U N C T A D secretaria t o n th e b asis o f d a ta p ro v id e d by
th e C h am b er <^f S hipping o f th e U n ite d k in g d o m reg ard in g la id -u p to n n a g e (given b y th e so u rce as
o f th e beginning o f ^ c h m o n th to ‫ ?و ا‬0 ‫ ﺟﺔبﺀ ^ه‬o f th e en d ^ ^ e a c ) ! ‫© ؟؟‬nth fro m 1971 on>^ard$), a n d
o n th e basis o f w orld fleet to n n a g e as p ub lish ed in In stitu te o f S hipping E conom ics, Shipping S ta tistic s ...

( ‫ ^ (ﺀ‬٢٠ ^^
‫ ﺀﻛﻪ »»م ﺀ‬ra tio : com piled b y th‫ ؟‬s ecretaria t o n th e l>asis o f scrap p ed to n n a g e an d
world deet tonnage as published in Institute of Shipping Econotnics, Shipping Statistics... (op. ‫ ﺀ‬//. ‫ﻣﺮ‬

43
 G raph

The course affreight rate indices and laying-up and scrapping as percentages of world ١ e, 1968-1974
Oil tankers
P er cent o f w orld T a n k e r freight ra te index
oil ta n k er fleet (In tascale = 100 a n d W o rld scale = 100)

1968 1909 1970——►-،Г— 1971- 1Э72— — 1973-

T a n k e r freight ra te index (W orldscale = 100)
T a n k e r freight ra te index (Intascale = 100)
-— — —— — —— L aid-up ta n k e r to n n a g e as a percentage o f w orld ta n k e r fleet
--------------------------- $ crap p ed ta n k er to n n ag e as a percentage o f w orld ta n k er fleet

S o u rces:
(a) Freight rate in d e x : T ab le 31.
(‫ )ظ‬Laid-up tonnage ra tio : com piled by th e U N C T A D secretariat o n th e b^sis o f d a ta p ro v id ed by th e C h am b er o f $h ip p in g o f th e U n ited R in g d o m regarding laid -u p
to n n a g e (given by th e source as o f th e beginning o f each m o n th up to 1970, an d as o f th e en d o f each m o n th fro m 1971 onw ^r،]s), a n d o n th e b asis o f w orld fleet to n n ag e
as p ublished in In stitu te o f Shipping E conom ics, Shipping S tatistics ... (op. . ‫ع‬/ ‫رمﺀ‬
‫ ))ﺀ‬Scrapped tonnage ratio : com pile،! by th e secretariat o n tlie b asis o f scrap p ed to n n a g e a n d w orld fleet to n n a g e as published in In stitu te o f ^h ip ^ in g Econom ics,
Shipping Statistics ... (op. c it.) .
end o f the year, however, the situation h a d changed
som ew hat an d laid-up tonnage rose to 1.6 m illion dw t
com pared w ith 0.15 m illion dw t in lu n e 1974. This
delay in the response o f the level o f laid-up tonnage to
declining freight rates can be attrib u ted m ainly to the
m easures taken by tan k er o perators to offiset increased
7‫؛‬unker prices^ reduced operating speeds, including
induced w ‫ ا؛‬iting ‫ ر‬and diversion o f tonnage t‫ ؟‬the dry
cargo m arket. A n o th er factor was th a t freight rates
for the smafi-size groups o f tankers rem ained relatively
high, and thus enabled carriers to continue their opera-
tions w ith som e m argin o f profit.
165. T he level o f laid-up dry cargo tonnage rem ained
very low as a logical consequence o f the generally high
levels o f freight rates for dry cargo tonnage th ro u gh out
1974.
168. The im provem ent oh^ervefi w ith regard to the
nine com m odities shonid be welcome, provided it is n o t
short-hved; however, priee boom s generahy do n o t last
fo r long, while the upw ard m ovem ent o f liner freight
rates is apparently continuous. $een from this angle,
it is useful to note th at, in spite o f the im provem ent
recorded in 1973, in the long run (decade 1964-1973) a
reduetion in the freight/price ratio has been observed
w ith regard to only hve com m odities. D uring 1974
eom m odity prices appear to have stabilized and some
even declined significantly, while large freight rate
inere^ses were e je c te d during the same year; so it is expec-
ted, therefore, th a t the relationship between freight rates
and prices will once again deteriorate.
Freight ratio changes Freight ratio changes
between 1964 and 1973 betw een 1972 and 1973

E. Liner freight rates as a percentage of prices Increase D ecrease Increase D ecrease

of select(] co!nmodities, 1964-1973 Jute . . . . . . . . . +81.6»0 ‫ا‬ 12.4

/«’' +
166. Tahle 31 gives the “freight ratio s” o f liner freight 23.2 ‫ام‬+0
rates to export prices o f 13 selected prim ary com m odities Coffee (from Brazil) . . + 42.9 »‫ئ‬ 4 .+‫« و‬/‫م‬
exported from developing countries to E urope for the Sisal hemp . . . . . . +19.6»/» -4 4 .7 %
years 1964 to 1973. F o r one additional com m odity T in +16.7»/» ‫م‬/‫ﺀ‬

sim ilar d ata are presented u p to 197©. R u b b e r. . . . . . . . +15.0»/» -4 ( %

Coeoa beans (from
167. T he year 1973, which has hecom e know n as the G hana) . . . . . . . + 0.0»/o -2 ٠/«
eom m odity price hoom year, w itnessed increases in B a lm ^ rn e ls . . . . . 24.2-‫ﺀ‬/ ‫م‬ %
prices for all b u t tw o (jute and tea) o f the com m odities Goeoa beans (from
listed in the tahle fo r which d ^ta were available. W ith Brazil) . . . . . . . 19.8-
«/« ٠/«
regard to nine com m odities, prices rose faster than Copra . . . . . . . . 1 5-. ‫ ا« ك‬0 ‫ ام‬0
freight rates. H ence freight ratios for these com modifies Coffee (from Colombia-
declined, in some cases very substantially, b u t increased Atlantie ports) . . ٠ 7 ‫م‬-1«/‫م‬ 7.1% -
further fo r ju te an d tea and also fo r coffee in the Brazil Coffee (from Colombia-
to E urope trade. Baciffe ports) . . . . 4.4«/«
- 14.0-
«/«

T able 31
Relationship between changes in freight rates
and changes in laid-up tonnage

‫ال ' ﻩ‬ tankers D ry cargo vessels

T anker freig h t
rate index
(Intascale = ^٠٠
D ry cargo voyage Laid-up ‫؛‬/٢^
15 Septem ber Laid-up tanker charter freig h t ‫ﺀﺀهﺀ‬-‫ ﻣﻚ‬tonnage
1969, Worldscale tonnage as a rate index (Ju ly as a percentage
fr o m 15 Septem ber percentage ٠/ 1965-June 1966 ‫رك‬/ world dry
E n d o f quarter 1969 ^ w o rld fieet ١١ =100 ( ‫ﺀ‬ cargo ‫ﺀ‬

1st qnarter — 1973 . . . . 152 0.51 121 0.66

2nd quarter — 1973 . . . . , 268 0.27 149 0.45
3rd quarter — 1973 . . . . 346 0.17 183 0.39
4th q n a r ^ r — 1973 ٠ .٠ . , 216 0.22 241 0.36

1st q ^ r t e r — 1974 . . . . , 221 0.11 245 0.37

2nd q n a rte r— 1974 . . . . , 104 0.08 226 0.32
3rd q u a rte r— 1974 . . . . . 115 0.25 205 0.29
4th quarter — 1974 . . . . . 108 0.70 193

So u rce:
‫ ﺀ‬F o r freight indices, see ta b le 28.
١١L aid -u p to n n a g e, com piied o n th e basis o f d a ta o n laid -u p to n n a g e fo r ta n k ers a n d d ry carg o vessels pub lish ed by
the Cham ber ofShipping o^the U nited Kingdom, and on world tanker and dry cargo fleets published in Institute ofShipping
E conom ics, Shipping S ta tis tic s: Facts and Figures about Shipping, Shipbuilding, Seaport a n d Sea-borne Trade (B rem en).

45
 T able 32

The ratio of liner freight ra^B to prices of selected commodities, 1964-1973

F reight rate as a percentage o fp r ic e ‫ ه‬١١

Com m odity R oute 1964 1965 1966 1967 1968 1969 1970 1971 1972 1973

R ubber . . . . . . . . Singapore/Malaysia-Europe 11.4 10.9 10.5 14.6

T in
C o p r a . . .
Hemp . . . .
. . . . . .
. . . . .
Singapore/Malaysia-Europe
Philippines-Europe
?hilippines-Europe
‫ن‬:‫ة‬
20.7
1.2
9.0
25.4
3.0
1.4
10.8
1.3

29.5
14.0» 16.8
33.2
‫ق‬ 1.4
9.3"

J u te Bangladesh-Europe 10.9 11.1 12. 1 »

Sisal hemp . . . . . . . East Africa-Europe 8.4 1‫ة‬ 17.0 19.7 18.9 19.5 18.1
Cocoa beans . . . . . . Chana-Europe 4.0 2.1 1.7 2.4» 3.9
Coconut oil . . ٠ .٠ . Sri L an k -E u ro p e 7.2 7.6 8.9 1о'б 14.5
T ea Sri Eanka-Europe 6.3 7 -7 1‫ ه‬1.
C oflee. . . . ٠ ٠ .٠ . Brazil-Europe 4.9 4.7 6.2 6.4 6.7 7.0
?aim kernels . . . . . . Nlgeria-Europe 7.3 8.7 7 -7 11.2 16.9 7.2
C olfee. . . . . . . . . Colombia (A tlantieports)-Europe 4 . 2 4.5 4.6 5.0 4 .2 ' 4.8 4.2 3.9
Cocoa beans . . . . . . Brazil-Europe 8.0 6.4 4.4 7 .4' 10.6 10.7
C offee Colombia (Paclffc ports)-Europe 4 . 5 4.8 4.9 5.4 5.4 4.5 5.0 5.0 4.3

‫ ا »م ﺀ‬-‫ ; ﺀﺀ‬D a ta supplied by th e ^ p y a ] N eth e rlan d s S hipow ners’ A ssociation.

‫ ﺀ‬c .i.f . prices w ere q u o te d ^ r ru h b e r (L o n d o n ^ S S ), tin , c o p ra, {ute (U K -p w c grad e), sisai h em p , eo e o a b ean s (G h an a-E u ro p e ), p alm kernels. F o r c o c o a h eans
(B razil-E urope trade), coffee (C olom bla-E urope), coffee (B razil-E urope), u n it values оГ ex p o rts w ere q u o te d . F riees o f th e rem ain in g eom m o d ities a re q u o te d o n f.o .h .
te r ^ s .
٠ F re ig h t rates in clu d e S uez C ana] varying su^eharges, w hen appiieable. W henever a eonversion o f freig h t rates to o th e r eurreneies h as heen neeessary fo r 1973, this
w as b ased o n eu rren e ^ parities as published in D n ite d N atio n s, M o n th ly ‫» ﺀ‬// ‫ ﺀﺀ‬،'» ‫م‬/‫ ه ﺀ ع‬،،‫ﺀ‬،، ‫ —ﺀﺀ‬A u g u st 1974, d n d valid as a t th e en d o f 1973. F o r earlier years see corres-
p on d in g issues o f th e Review.
» A n n u al freig h t rates w ere eaieulated b y ta k in g a w eighted average o f v ario u s n-eight rates q u o te d d u rin g th e year, w eighted b y th e ir p erio d o f d u ra tio n .
» R a tio o f liner freight rates to price fo r th e p erio d ffo m 1 )a n u a ry 1973 to 16 O etohe^ 1973.
 Chapter VI

O T H E R T O P IC S

A. Institutional developments in world shipping objective, namely, to increase efficiency in the em ploy-
m ent o f tonnage by cutting dow n on ballast voyages, and
also to strengthen the position o f bffi^ tonnage operators
1. General vis-à-vis the big industrial concerns whieh use their
169. T he new situation which has been in being since servmes.
the autu m n o f 1973 as a result o f the rise in oil priees 173. Reeent developm ents in eontaineri/ed trades
has n o t yet settled dow n. A lthough b u n k er prices m ay have fu rth er dispeiled fears ^nd eontroversy a b o u t the
fall in the long run, it is likely th a t they will rem ain high existence o f overtonnaging on eert^in routes. A lthough
enough to activate the seareh fo r m eans and m ethods o f the pooling arrangem ents whieh have been sought for
reducing their im paet on the eeonom ies o f ship opera- some tim e by the operators concerned in certain m ajor
tion. It is likely, too, th a t the increased significance o f trades have not yet been institutionalized, tig h t supply
fuel costs o n to tal eosts wifi affect the design an d size o r even seareity o f tonnage rath e r th an oversuppiy
o f new ships and prom ote the seareh for alternative characterized the containerized trades in 1974. This
propulsion systems. D perationai m ethods an d the tends to conhrm th a t possibiiities fo r m onopohstie aetion
organization o f m aritim e tra n sp o rt in the m ajor liner in highly eontainerized liner trades have increased rath er
and bulk trades will also be affeeted. I t is to be expeeted th an declined.
th a t the u rgent need to eom bat infiation, in add itio n to
pressures from the users o f shipping serviees, wifi mo- 174. I t further appears th a t liner operators, taking
tivate the search fo r econom ies th ro u g h efficiency o f advantage o f the tight tonnage supply situation and high
operation. dem and conditions in the dry eargo m arkets in 1974,
diverted conventional liner tonnage to the open m arket
17‫ ﻣﻪ‬T he teehnologieai change whieh eharaeterized in order to take advantage o f the very high level freight
w orid shipping in the post-w ar period, an d whieh, rates w hieh prevailed. Shippers in some liner trades
partieularly sine© the late 1960s, aim ed a t lab o u r cost have found it diffieult to secure spaee for their cargoes
savings an d increased effieieney th ro u g h faster turn -ro und and signiheant delays in shipm ents o f eargo have been
o f ships, is expeeted to continue in the eom ing years, observed, particularly in som e trades from developing
b u t the seareh for eeonom ies in fuel eonsum ption and countries.*®* In some eases this has arisen beeause liner
‫ ؟‬osts wifi, perhaps, be given relative priority over other operators have diverted vessels from their norm al liner
issues. schedules to the m ore profitable m arket.
171. T he tren d to unitization will obviously continue 175. As the eosts o f operation o f liner services
for the rem ainder o f this decade as the seareh widens increase, efforts to curtail oversupply o f tonnage, dupli-
fo r ways ^nd m eans o f reducing to tal operating eosts. cation o f services o r waste o f vessels’ tim e should in
How ever, so long as building costs rem ain a t their present principle be weieome, provided th a t adequate services
very high levels, or if they increase in the future, addi- are m aintained and eeonom ie savings are reflected in the
tional eonsideration m ay be given to those form s o f level o f freight rates. The resistance o f shippers to
unitization w hich appear to be less eapital-intensive th an inereases in liner freight rates m ay lead liner operators
others an d whieh provide fo r increased fiexibility o f to look m ore effectively into the question o f rationalize-
operation. tion o f services and inereased operating efficiency as a
17^. € o -o p e ra tio n am ong liner o p erators to regulate m eans o f lowering o r stabilizing their operating eosts.
the supply o f tonnage th ro u g h pooling an d oth er devices B oth governm ent and private interests, particularly in
continues to be eharacteristie in the containerized trades developing eountries, have beeom e increasingly aware
and also in the conventional liner services.*®® $h!p- th a t for such pressure to beeom e effective there is an
owners in the liner trades ap p ear to be looking increas- urgent need to strengthen their negotiating pow er as
ingiy for m eans o f strengthening their pow er to eontrol users o f liner serviees.
the m arket. In th e bulk trades the expanding praetiee
o f creating “tonnage p ools” *‫ أﺀ‬appears to have a tw ofold
‫ ﺀ»ﻫﺮ* وﺀ‬-‫ س‬/ o f Commerce (Liverpool), 13 February, 19 May,
^9 May, 28 May, 14 June, 8 Juiy, 17 and 22 O ctober 1974;
*‫ ®ﺀ‬See sub-section 2, a, below. ‫ﺀ‬/‫ ﺀ’ ﻣﺤﻤﻢ‬List (London), 25 May, 11 June, 29 Ju!y and 23 August
*‫ وﺀ‬See Fairplay International Shipping Weekly (London), 1974; Seatrade (Colchester U .K.), vol. 4, N o. 5 (M ay 1974) and
vol. ^59, N o. 4726 (21 M arch 1974). Shipping and Trade News (Tokyo), 2 August 1974.

47
 2. Particular examples ٠/ institutional developments
(a) Consortia, pooling agreements and jo in t services.
Opposition to new entries in trades
(i) Pooling schemes in liner services serving Japan and
N orth and South Am erica ١®‫؟‬
176. A pool agreem ent for the Japan/G entral Amer-
ica/G aribbean sea rou te was concluded in Jan uary 1974
by fo u r Japanese lines an d tw o oth er flag carriers.
A sim ilar agreem ent for the Ja p an /S o n th A m erican ^ e s t
C oast trade, including lines from Ghile, E cuador, Eeru
and other lines, was u nder consideration in June 1974.
In addition, the freight conferences serving the E ar
E a st/N o rth A m erica trades have been studying the
possibility o f ado p tin g a freight pooling system covering
the entire F a r E a st/N o rth A m erica trad e routes. N o
deflnite decision has been announced a t the tim e o f
w riting this ‫ آ‬0‫ ء‬0‫ آ‬1.‫ﻣﻘﻞ‬
(ii) P ool agreement / ٠٢ the Continental EuropejRiver
Plate liner / ٢٠^
177. A p o o l agreem ent between $ o u th A m eriean and
E uropean lines in the G ontinent and A rgentina/U ruguay
trade cam e in to force on 1 A pril 1974. The pool agree-
m ent is based on the principle o f 50:50 cargo sharing
between South A m erican and E uropean
(iii) The N orth A tlantic container pooling agreement
178. In N ovem ber !971 seven container ship com-
panics which operated 70 p er cent o f the N o rth A tlantic
lines capacity petitioned the F M G to authorize the N o rth
A tlantic container pooling agreem ent. In 1973 the
Gfficial A m erican H earing Gouncil recom m ended the
U nited States Federal M aritim e G om m ission to approve
and authorize the pooling In June !974
when the approval o f th e F M G was considered to be
im m inent it was reported th a t the A tlantic G ontainer
Lines (AGL), a m ajor p articip an t in the pool agreem ent,
had w ithdraw n from the proposed pool ١®‫ ؛‬because it had
been earrying a greater share o f the traffic th a n th at
allocated to it in the proposed agreem ent. I t therefore
expected to renegotiate the term s so as to increase its
share from the 20 p er cent allocated to it in the agree-
m ent to 25 per A t the tim e o f w riting (Decern-
١٠٠ shipping and Trade News (T©kyo), 22 January !974, Japan
Maritime Gazette (Tokyo), 6 Juno 1974, and Lioyd’s List (London),
13 August 1974.
١٠٠ It is w orth noting in this connexion that according to a nress
report, flve Japanese lines operating container serv ies on the Japan-
New-York liner trade route had decided to introduce a freight
pooling systenr (Lioyd’sL ist (London), 19 Decentber 1974). Aecord-
ing to another report, American container ship operators on the
Japan/U.S. liner trade route have been studying the possibility
of adopting a pooling system ]ointly with their Japanese counterparts
on the U .S./Japan liner trade routes (/،?٣ « Maritime Gazette
(Tokyo), 17 Decemher 1974).
١٠٢ Journat ‫م‬،‫ ﺳﻢ» ا‬te transport internationai (Base!), 35th year,
No. 16 (19 April 1974), p. 1769.
١٠٠ / ‫ﻣﻤﺢ؛ ه‬, N o. 1 (4 January 1974), p. 43.
١٠٠ / ‫ ﻣﺤﺌﻪ‬., N o. 24 (14 June 1974), p. 2737.
١٠٥ Journai de /،‫ ؛‬marine marchande et de ta navigation aérienne
(Paris), 56th year. N o. 2845, (27 June !974), p. !588, and ibid..
No. 2849 (25 July 1974), p. ]843.
ber 1974) no decision on the pooling ngreen^ent h^s been
announced.
(iv) Rationalization schemes in conventional liner ser-
vicesfrom and ‫ ؛‬٠ the Far East
!79. Japan line and M itsui O SK lines have reached
agreem ent on a p lan for rationalization o f conventional
ship services on the Japan/N ew Z ealand route for
enforcem ent from the Septem ber 1974 sailing. The
plan includes a rednetion in the nnm ber o f ports o f
discharge on the trade ronte and calls n p o n shippers to
palletize their cargoes in order to reduce the tim e spent
by ships in ports in Jap an and New In
addition, the Japanese lines serving trade hetween Japan
and South A frica were expected to sta rt discussions in
mid-1974 for a freight pooling on their conventional
liner services in this ronte. A t the initial stage the pool
was planned to cover ontbound freight only. Reassign-
m ent o f ports o f call and eo-ordination o f sailings were
points to be covered by the proposed The
lines serving the trade between Jap an and N ew G uinea
are also planning to proceed w ith rationalization plans
in this trade.^®
(v) Joint shipping venture by / ٢«« and Pakistan
180. It was reported in A ugust 1974 th a t Iran had
proposed to ? ak istan th a t they should set up a jo in t
tanker com pany with a w orking capital or $4^ million.
This com pany w onld serve as a subsidiary o f tbe national
shipping corporation o f ? a k istan in jo in t ow nership
w ith the G overnm ent o f 1‫أاﻋﺂ‬.‫ﻣﻬﻞ‬ Besides carrying some
o f Ira n ’s oil exports to other countries, the tankers o f
the proposed com pany eould carry ? a k ista n ’s entire
crude oil im ports o f over 4 m illion tons annually.
(vi) Other information
181. The request by “K ” Tine o f Jap an to jo in the
T rio G ronp, which is engaged in container service on
the Japan/E urope route, has faced strong opposition
from other m em bers o f the T rio G roup.^،‫ ؟‬In O ctober
it was reported th at, if the line’s attem pt to enter the
conference fails this year, adm ission will be songht again
next y ^ r ^°
(b) M aritim e agreements between governments
(i) U SSR — Argentina shipping agreement
18^. A shipping agreem ent between the U SSR and
A rgentina was signed in Septem ber 1974 in Buenos Aires.
The agreem ent provided for the equai participation o f
the m erchant fleets o f the two eonntries in the carriage
o f trade between the U SSR and A rgentina. I t also
provided fo r the reciprocal granting o f m ost-favoured-
١٠١ Japan Maritime Gazette (Tokyo), !‫ ه‬July and 18 July,
16 August and 27 September 1974.
١٠١ Ibid., J1 July and 21 August 1974, and Shipping and Trade
(To^^o), 26 July 1974.
١٠٠ Japan Maritime ‫ ﻣﺤﻤﻤﻢ‬،‫( ﺀ‬Tok^o), 6 August 1974.
١٠٠ Lioyd's List (London), 28 August 1974.
١٠٠ Japan Maritime Gazette (Tokyo), 21 August 1974. See also
Shipping and Trade News (Tokyo), 22 June 1974.
١٠٠ Japan Maritime Gazette (Tokyo), 17 October 1974.
natio n treatm ent and, in some cases, even o f treatm effi
as nationals in the servicing o f ships an d cargo handling.
T he agreem ent included a clause o n the m echanism o f
regular hilateral consultations o n questions o f shipping.،^‫؟‬
(ii) Japan/China and Japan!Republic o f Korea shipping
agreements
183. fn conclusion o f n e g o tia tio n begun in Tokyo
in July 1974 hetween th e G overnm ents o f C hina and
Japan, a shipping agreem ent was signed in N ovem ber
1974. Tire agreem ent, w hich will he in force fo r three
years and will be renewed if n o t abrogated, calls for the
holding o f governm ental consultations, guarantee o f
rem ittance o f revenues o f shipping firms, granting o f
m ost-ffivoured-nation treatm en t ^nd eo-operation in
rescue operations at sea. Jt was also rep o rted th a t a
eonsultative body is to he set up to decide the shipping
rates and the loading shares .،‫؟‬ ٠ N egotiations for a
shipping agreem ent have also been undertaken betw een
Japan an d the R epuhlie o f ^orea,،^® b u t the outcom e
is n o t know n a t the tim e o f w riting this review.
(iii) Shipping agreement between China and Bulgaria
184. A shipping agreem ent was concluded in early
$eptem her 1974 hetw een the ? e o p le ’s R epublic o f C hina
an d B ulgaria.،‫ ®؟‬T he details o f the shipping agreem ent
had n o t heen m ade public by the tim e o f drafting this
rev)ew.
(c) Freight booking and shippers’ councils
185. In June 1974 the form atio n o f an Irish Shippers’
Council was announced in O uhlin. Its m ain objectives
were to co-ordinate the activities o f m em her organizations
in form ulative policies on tra n sp o rt an d ancillary services.
It was reported th a t the need to eo-ordinate the interests
o f all users o f tra n sp o rt services arose m ainly from the
fact th a t services available to Irish shippers “often left
m uch to he desired” , an d also from the need for a shippers’
conseil to have a strong say on m atters relating to
tra n sp o rt costs, standards o f services an d p o rt facilities.،‫؟‬،
186. A ccording to press rep o rts,،‫®؟‬the U nited Repu-
hlic o f T anzania is to set u p a freight hureau sim ilar to
the C entral F reight B ureau o f $ri L an k a.،‫ ®؟‬The
em phasis at the outset w ould probably he on reservation
o f cargo space, cargo aiiocation an d rationalization o f
shipping services, b u t in due course th e new freight
b u reau ’s activities will be extended to eover all those
carried o u t hy the C entral F reight B ureau o f Sri L anka.
W hen in full o peration th e T anzanian Ereight B ureau
١،‫؟‬ Journal ٠/ Commerce (Liverpool), 10 September 1974.
٠،‫؟‬ Shipping and Trade News (Tokyo), 3 Angust and 14 November
1974.
، ٠® Japan Maritime Gazette (Tokyo), 23 July 1974.
، ٥® ‫ﺀ‬/‫ ﺀ’ ﻣﺤ ﻤﻢ‬List (London), 10 September 1974.
،‫؛‬، International Freighting Weekly (London), No. 221 (19 June
1974).
، ٠® Seatrade (Colchester U .K.), vol. 4, No. 11 (November 1974).
، ٠٠ F o r information regarding the Central Freight Bureau of
Sri Tanka, see “Central freig h t Booking ©®ce, Sri Lanka: report
prepared for the U N C TA D secretariat by Mr. D . Soysa, Ministry
of Shipping, Sri Lanka” (TD/B/C.4/108).
will serve as a central freight booking office for all
cargoes exported by the conntry.
(d) Actions by governments
187. T he Sultanate o f O m an announced its intention
o f preparing a m aritim e !aw th a t w ouid enable ships
to be registered under its fiag. This conntry, which
has no fieet a t present, intends to a ttra c t shipow ning
com panies from outside the country which m ay n o t he
required to he incorporated inside O m an h u t m ay
need fulfil certain standards. E xem ption w ould he
granted from all revenue taxes; registration fees w ould
be low, b u t a tonnage ta^ w ould be ‫ ﺀﺻﺈ‬0‫ ﻛﻬﺔ‬.‫مﺀل‬
188. A U nited States co n rt has ruled th a t a LA SH
barge is n o t a “ship” o r a “vessel” under the provision
o f the H ague Rules, w hich are incorporated in the U nited
States O arriage o f G oods by Sea A ct. G onsequently,
a LA SH barge in tran sit becomes the responsibility
o f the m other ship.،‫؟؟‬
189. A ccording to press reports ‫ ﺀ؟ل‬a national m ^rl-
tinre com pany under the nam e o f “G am eroon Shipping
Lines” has been recently established under new legis-
lation in the U nited R epublic o f C am eroon to undertake
all types o f activities in m aritim e transport, ship opera-
tions and chartering. T he purpose o f the legislation
is to reduce the country’s dependence on foreign shipping
services w hieh are heyond any direct eontrol by the
G overnm ent. It also provides for the cargo sharing
form ula o f 40-40-20 to be applied, so th a t the new
com pany will be assured o f carrying 40 per cent o f
the country’s trade.
190. The Energy T ran sp o rtatio n Security A ct o f
1974,،‫ ؟؟‬an agreed version o f w hich has been voted by
the Congress, was n o t agreed by the ?resident o f the
U nited States.،‫ ؟؟‬T he A ct w ould have required up to
30 per cent o f oil im ports into the U nited States to he
carried on Am erican-fiag vessels.
B. Unitization
Trends in unit ' transport system s
191. T he acceleration o f the tren d tow ards un it
load systems over the past few ye^rs has resulted in
shippers presently heing offiered a wide range o f vessel
types for the earriage o f unitized cargo, including full
cellnlar and p a rt container ships, roll-on/roll-offi vessels,
barge carriers, pallet carriers and m nlti-purpose vessels.
192. C ontainerization has undoubtedly fulfilled its
original purpose; the speeding o f cargo th ro u g h p u t
، ٠١ Seatrade (Colchester U .K.), vol. 4, N o. 5 (M ay 1974).
، ٠٠ Fairplay International Shipping Weekly (London), vol. 252,
No. 4743 (18 July 1974).
، ٠® Article hy Cameroon Tribune as quoted in Marchés tropicaux
‫ ﺀﺀ‬méditerranéens (Paris), 30th year. N o. 1520 (27 December
1974).
٠،‫؟‬ Congressional Information Bureau (W ashington D.C.), vol. 78,
N ٠ . 199 (11 Dctober 1974) and ibid., N ٠ . 196 (8 ©ctober 1974).
،‫ ؟؟‬Journal o f Commerce (Liverpool), 2 January 1975.
and ship operation an d an inerease in levels o f produe-
tivity; b u t it is n o t neeessarily the m ost eeonom ieal
m ethod o f unitization in every circum stance. It wih
tak e some tim e to know whieh p articu lar m ethod o f
unitization is the m ost suitable an d eeonom ieai for
eaeh specihc trade;*®® it m ay be th a t several m ethods
need to be used together in trades w here there is a large
variety o f goods. I t is w orth n oting th a t the repercus-
sions o f higher fuel eosts on the operating costs o f various
types o f u n it load systems can n o t yet be clearly seen
and evaluated, particularly in view o f th e sh o rt tim e th at
has elapsed an d o f th e boom conditions whieh prevailed
in the dry cargo m arkets an d liner shipping in 1974.
193. In the particu lar ease o f developing countries,
there is grow ing evidence th a t hexible u n it load systems
m ay best serve the heterogeneous eharacter o f their
trade. F o r exam pie, th e us© o f shipper—paeked units
can result in substantial savings in the eost o f handling
eargo from p ro d u ctio n p o in t to the m arket. U nits
th a t m ay be built a t producers’ prem ises by securing
the goods paeked in bags, eartons o r oth er form s o f
p a c k a ^ n g to pallets m ay ereate substantia[ savings,
w ithout undue pressure on p o rts in developing countries
to invest in the ©apital-intensive an d teehnieally sophis-
ticated h andling equipm ent necessary for container
operations. T he advantages o f using shipper-paeked
units inelude the faet th a t they are eonvenient to handle
and store at the producers’ prem ises an d they reduee the
eosts o f handling, inland tra n sp o rt an d loading, while
loading an d discharging times a t export and im port
term inals are also redueed, as com pared w ith break-bu!k
transport.
194. C enerally speaking, international seaborne trade
an d the particu lar requirem ents o f different eountries
and regions are to o heterogeneous to be served by only
on© tra n sp o rt o r handiing system. W hatever the
advantages o f one o r an o th er system m ay be, the requi-
rem ents o f w orld trades necessitate th e objeetive selection
from am ong a rang© o f u n it load systems o f th e one best
adapted to th e partieu lar eireum stanees. I t is interesting
to n ote in this context th a t in 1974 the E lder D em pster
Line, a m em ber o f the U nited K n g d o m /W e st A frica
Liner Jo in t Service, p u t in to service three m ulti-purpose
sem i-eontainer vessels eaeh o f 41B T E U *٠٠ th a t are
equipped w ith on-b o ard ©ontainer handling faeilities.
$uch ships do n o t require heavy eapitai outlays in
eom plex equipm ent by the p o rts served.
195. T here appears to be grow ing interest in vessels
offering versatility o f serviee. I t has been seen from
table 24 th a t the em phasis in new orders fo r unit load
system vesseis is on o th er th a n fuh ©ontainer vessels.
A dopting a hexible attitu d e in the use o f u n it load
tra n sp o rt systems heips to reduce the am o u n t o f capital
*٠٠ According to a study covering the Live^nooi/Lagos/Ap^a^a
trade carried out hy the Fconomist imehigence U nit, London,
containerization is only 15 per cent cheaper than break-buik trans-
port, whereas shipper-paeked unit operation can show as much
as 25 per eent saving on eonffiiners. The Fconomist Intelligence
U nit Ltd., Container Handling ‫ ﻣﺢ»ه‬Transport Costs (report prepared
for the U nit Load C u n c il (London, July 1973).
*٠٠ Twenty-foot equivaient unit.
‫؟‬٨
required fo r investm ent in infrastructure for one p arti-
cular m ethod as against others, until the stage is reached
when it heeomes clearer whieh m ethod is the m ost
eeonomiea! and beneheial to developing eonntries in
the light o f their particular tra n sp o rt requirem ents
and their socio-economi© eonditions.
2. Particular developments with regard / ٠ unit load system s
in //«£٢ cargo trades
196. A large p a rt o f liner cargo in the m ajor trades
is now nnitized. T here is, however, no inform ation
showing the com parative positioh o f each u n it load
$‫?؛‬stem. ? a rtia l inform ation on the share o f container-
ized eargo—irrespeetive o f the t‫?؛‬pe o f vessel used— in
the 1‫ ه‬m ajor hner trades to and from the U nited States ‫* ﺀإ‬
suggests th a t in 1972 (table 33) ab o u t 44 p er eent o f the
liner cargo (11.5 m illion tons) m oved in coffiainers
(though n o t neeessaril‫ ?؛‬on ©ontainer vessels). I t was
also reported *٠®th a t 52 per eent o f the E u ro p e/F ar E ast
liner trade ro u te and 54 per cent o f the F a r E ast/E urope
ro ute m oved in eontainers in 1973, b u t again n o t neeessa-
ril‫ ?؛‬on ©ontainer vessels. T here is no reason to believe
th a t the situation on the m ajor routes to and from other
developed eountries is substantial[}? different. I t is
w orth noting however th at, in other th a n the 10 m ajor
trades to an d from the U nited States, the share o f cargo
earried in eontainers in 1971 was only 3.4 per eent
(the source did n o t give the eorresponding share in 1972).
W hile unitization is im p o rtan t in m ost trad e routes to
and from la p a n , it has been reported *‫ أﺀ‬th a t in 33 trade
routes o f ^ p a n a b o u t 2,500 yearly sailings o f conven-
tional liner ships still occur. A lso, in the F a r E ast/
E urope and E u ro p e/F a r E ast liner trad e routes ‫ * ﺀأ‬in
1974 there was an average o f 774 annual sailings o f
eonventional an d com bination container/break-bulk
(COM BO ) vessels. Olearly, although the expanding use
o f eontainers on the m ajor hner trades affects a very
substantial p o rtio n o f liner eargoes, other form s o f
unitization o f eargoes and conventional m ethods o f
packaging and handling general cargo are also used fo r a
great p a rt o f liner eargoes. M oreover, the use o f con-
tainers by no m eans im phes tran sp o rt on ©ontainer
vessels only.
197. O n the o th e r hand, new announeem ents are
m ade from tim e to tim e by groups o f earriers o f their
deeision to eontainerize eertain trades, as fo r exam ple
E urope to $o u th Africa,*®® E urope to N ew Zealand,*®®
*٠* Foreign Oceanborne Trade o fth e United States : Containerized
٧٠٢
٠^ ‫ح‬/‫»ءه‬
٠ ‫ﻣﺢء؛‬Trade Routes, 1971, issued by tbe United States
D epartm ent of Comnnerce, M aritime Administration (3¥a$hin^ton,
D .C., February 1973) and Containerized Cargo Statistics, 1972,
issued by the U nited States D epartm ent o f Commerce, Maritime
Administration (Washington D .C., ^ n u a r y 1974).
*٠® FEFC Facts ‫ ﻣﺢ»ه‬Figures, N o. 5 (January 1975).
*٠® Lloyd's List (London), 31 October 1974.
*٠٠ FEFC Facts and Figures, N o. 5 (January 1975).
*٠٠ Containerisation International (London), voi. 8, N o. 4
(April 1974), and Journal de /٠ marine marchande ‫ ءء‬de la navigation
aérienne (?aris), 56th year. N o. 2849 (25 Jffiy 1974).
*٠٠ Containerisation /« ‫ءءء‬-»‫س‬،'‫ ﺳم‬/ (London), voi. 8, N o. 7/8
(Jnly/August 1974), and Seatrade (Coichester U.K.), vo[. 4, N o. 8
(August 1974).
 T able 33
Share o f cargo moved in containers in the major liner trades
to and from the United States of America, 1971 and 1972
(En million long ‫ ﺀ»مﺀ‬and percentages)

1971 1972

Percentage Percentage
o fc a rg o o f cargo
G eneral cargo m o ved in G eneral cargo m oved in
Trade route carried containers carried containers

U.S. N orth A tlantic/Carribbean . . . . 1.47 !4.6 T53 20.5

U.S. N orth Atlantic/U.K . and Uontinent
U.S. N orth Atiantic/Seandinavia and
Baltie ...................................................... 0.8 30.4 ‫ ؤ‬941 30.7
U.S. N orth Atiantic/M editerranean ٠ . 45.1 47.6
U.S. Sonth A t!antic/U.K., Ireland, Uonti-
п е т а ! Europe, N o rth of Portugal . .
U.S. A tlantic/Far E a s t .............................
U.S. A to m ic and Uu!‫؛‬/F ar East . . . .
0 ‫ و‬44
‫ئ‬:‫ئ‬
0.877
34.5

53.6
U.S. G ulf/U .K . and Ire!and, Gontinenta!
Europe, N o rth o f Portugal . . . . .
U.S. Pacific/U.K. and Gontinent . . . . 39.2
U.S. Pacific/Far East . . . . . . . . . 4.5 49.1

T otal 25.2 36.5 44.4

Source ; C om piled ^•om Foreign O ceanborne Trade o ft h e U nited S ta te s ; C ontainerized Cargo ٠« S elected Trade R outes
1971 (op. cit.)y a n d C ontainerized Cargo Statistics, 1972 (op. c it.).

Jap an to H o n g K ong and N ew ^ e a ia n d , aiso som e other increasingly used for carriage o f dry cargo n o t snited
destinations in the F a r E a st . ‫ﺀ‬٢‫ ل‬Jn addition, fully to the 20 ft. or 40 ft. containers. Siinilariy, LA SH
cellular container services began o p eratio n in 1974 in ships, which m ay n o t be eom petitive in serving m odern
certain oth er trades from Jap an as fo r exam ple to the p orts th a t have sophisticated handling facihties, wili
R epublic o f K o rea an d to M alacca Straits ‫ ﺀ‬0‫ آ‬1‫ ة‬.‫قﺀل‬ flnd greater em pioym ent in shahow estuaries, less devel-
oped h arbours ١٢‫ ؛‬an d some ports o f developing conn-
198. I t is interesting to note however, th at, whiie the
E o r example, L A SH ships were expected to
lines serving the E urope/N ew Z ealand trad e have opted
start calling a t the ports o fK a n d la in fn d ia from July 1974.
in fo r full containerization o f the trad e, the shipping
In A ugust this year a L A SH service started betw een the
lines serving th e trad e betw een A ustralia, N ew ^ e a ia n d
U nited States G u lf p o rts and the Singapore/Saigon/
and N o rth A m erica have sought increased diversifieation
M alaysia/lndonesia/Ehilippines area.
o f m ethods o f unitization an d the shippers are offiered
a wide choice o f nnitized cargo systems, e.g. R o /R o , 200. A lthough palletization has proved to be an
L A $H vessels, full con tain er ships, sem i-eontainer ships efficient and cheap m ethod o f nnitization, speeiahy
and conventional vessels , ١‫ ﺀﺀ‬although shippers in A us- constructed pailet ships have n o t as yet m ade the break-
traiia earlier expressed d o u b ts a b o u t the future prospects th ro u g h th a t was expeeted w hen palletization was first
for conventional ١٢٠ introdnced. I t appears th a t palletization is encouraged
!99. G enerally speaking, fully eellnlar container by liner operators, particularly in trades in w hieh no
ships ap p ear to be snbject to increasing com petition o ther form o f unitization has been It
from o th er types o f u n it ioad systems, partic^iariy seems, how ever, th a t shippers m ay n o t be given sufficient
ocean-goingR o/R ovesse!s. In 197 4 th erew ere6 © R o/R o incentive to palletize their cargo in afi trades w here this
vesseis either in service o r on order, the m ajority o f is com m ercially o r teehnically possible. This m ay be
w hich are designated to containerized trad e routes. assum ed from a rep o rt ١٢‫ ؛‬th a t the Ja p a n M achinery
Since 1967 an increasing nu m b er o f operato rs have E xporters’ A ssoeiation (JM E A )h as requested 28 confer-
been inco rp o ratin g R o /R o vessels either as supplem ents
o r as alternatives to th e eeilular container-carrying ١٢ / ‫ ؛ه‬،-‫ﻣﻤﺢ‬, No. 3 (M arch 1974).
system٢‫ل‬
.‫ل‬ Jt is expeeted th a t R o /R o vessels will be ١٢٠ It has been claimed by the interested parties that LASH
system vessels have proved nartieuiarly successful in the route
١٠٢ Shipping and Trade News (Tokyo), 22 June 1974.
between United States G ulf ports and Indian Ocean/Persian G ulf
ports, mainly because these vesse!s can be ofl-loaded while at anchor
١٠٠ Shipping and Trade News (Tokyo), 11 and 22 July 1974. and are thus no t affected by the limited berthing capacity of, and
١٠٠ Containerisation International (London), vol. 8, N o. 8 the congestion conditions existing in, these Asian ports. (Shipping
($e?lember 1974). and Trade News (Tokyo), 18 Getober !974.)
١٢٠ Ibid., N o. 3 (M areh 1974). ١٢٠ Japan Maritime Gazette (Tokyo), 16 August 1974.
١٢١ /^•،^., N o. 5 (May 1974). ١٢‫ ؛‬Ibid., 12 November 1974.
ences o f those serving the trad e from Jap an to enlarge and the dem and fo r oil tonnage by 10 per cent o r even
the palletized cargo allowance, w hich they find currently m ore.،‫®؟‬
.insufiicient
205. A ny assessm ent o f the Im pact o f the reopening
o f the Suez C anal on the International shipping scene is
c. The prospects for the reopening subject to lim itations because o f the m any unknow n
of the Suez Canal
fa v o rs in the reopening equation th a t w ould ultim ately
determ ine the final im pact, such as the scale o f charges
T he Suez C anal was one o f the m ost vital trade .201
links between E ast an d W est hefore its closure 1967 in . and C anal dues, political stability in the area, w aiting
tim e a t the two entry gates, level o f w orld bunker prices
A h o u t 14 per cent o f to tal w orld seaborneand trade،‫؛؛؟‬
and capacity lim itation o f the C anal. Nevertheless, in
approxim ately one-third o f E uropean seaborne im ports
.passed th ro u g h th e C an al term s o f shorter stemming tim e w ith savings in fuel
consum ption and inereased utilization o f carrying capa-
-In M areh 1974 the first stages o f w ork in reop en .202 city in term s o f m ore voyages per year, the Suez ronte
-ing the C anal hegan w ith the clearing o f mines, explo should have considerable advantages over the C ape
sives an d obstacles. By the end o f June 1974 a British route. The distance saving from using the Suez C anal
m ine-sweeper crossed th e Can^l. T he to ta l bill for the can be seen from the following :
-reconstruction o f the C anal was estim ated a t $1,000 m il
Colombo- Persian Gulf- Colombo- Persian Gulf-
Financial loans were m ade available to Egypt lion .،‫ ؟؟‬R oute L e H avre L e H avre M arseilles M arseilles
by the W orld B ank an d hy industrial countries, including
H ,000km 12.000 km 9,000 km 10,000 km
an d the U nited States
Jap.،‫®؟‬
an
،‫؟؟‬
Cape. ^0,000^m 21.000 km ^0,000 km ^2,000 km
T he first stage in the reopening o f the C anal .203
would include dredging up to 38 feet to allow access S o u rce: N orwegian Shipping N ew s (3 ‫ ه‬$‫ ﺀ ( ﻫﺎ‬M ay 1974.
for vessels in the range o f 60— 70,000 grt, while the
second stage woffid involve w idening an d deepening the 206. The reopening o f the Suez C anal w ould reduce
C anal to allow entry to 150,000 to n vessels -A.،‫®؟‬
ccord the lengffi o f three o f the principal oil tran sp o rt routes
ing to the plans, in th e final stage th e canal will he by as m uch as 30 to over 55 per cent, as indicated in
enlarged to accom m odate A L C C s/U E C C s o f over the figures helow;
.tons in the 1980s 200,000 Persian Gulf- Persian Gulf- Persian Gulf-
Route M editerranean N orthw est Europe us E a st Coast
I f th e program m e o f w ork is carried o u t a.s .204
(In nautical miles)
planned, hy the heginning o f 1975 the first stage o f
reconstruction should have heen com pleted an d by the 4,700 6,400 8,300
the C anal beginning
w ould becom
o f M arch e ،‫؟‬، Cape
1975 10,800 11,100 2,000
,fully operative to accom m odate, as an u pper lim it
S o u rce: O E C D , M a ritim e Transport 1 9 7 3 ... ( ‫ ﺀ م‬. c it.).
tankers o f 70,000 dw t fully loaded an d 110,000 dw t in
ballast. A ccording to thepress
am o urep
n t oorts
f ,،‫®؟‬
cargo expected to pass th ro u g h the C anal in 1975 is 207. Because o f the costs o f clearing and reeons-
ah o u t 50 m illion tons o f dry cargo an d 70 m illion tons truction o f the C anal it is expected th a t the C anal dues
o f oil. A ccording to an o th er estim ation, if the C anal dues will he substantially higher th a n those which prevailed
are fixed a t levels which m ake the tran sit an econom ic in 1967. H ow ever, if the increase in C anal dues proves
proposition fo r all dry cargo ships, w hieh could save to be lower th a n the increase in fuel costs, then the
substantially on voyage distances and tim e, the dem and econom ic savings o f using the C anal may be o f greater
fo r dry cargo shipping m ight he reduced by 5 per cent significance th an hefore the closure. T hus it m ay becom e
attractive fo r m any ship operators to reorganize their
ship operating arrangem ents, although som e trade
، ‫ ؟‬٠ The economic effects o f the closure o f the Suez Canal: ‫ﻣﺢءءﻣﺢ‬ >' patterns established after 1967 m ay n o t change o r may
by the secretariat ٠/ U NC TAD (United N ations publication,
$ales N o. £.73.tt.D .t3), para. 9. take time to ad ap t to the new situation.
،‫ ؟؟‬Seatrade (Colchester U .K.), vol. 4, N o. 4 (April 1974).
، ‫ ؟‬٠ Fairplay International Shipping Weekly (London), vol. 251,
No. 4728 (4 April 1974). D . UNCTAD training courses
،‫ ®؟‬Lloyd's List (London), 7 August 1974.
،٠® In October 1974 a provisional contract was concluded 1. Third training course in port management
between the Suez Canal A u th o ri^ and a Japanese construction
company to widen and deepen the Canal so as to accommodate 208. A fter the p o rt m anagem ent training courses
150,000 ton ships. It was reported that work to increase the Canal’s held in G othenburg in 1972 and in Algiers in 1973,‫م؟ل‬
depth Irom 15 to 19.5 metres and the width at the water’s edge U N C T A U organized a th ird such course w hich took
Irom 90 to 160 metres would start in the latter h all o f 1975. Lloyd’s place in G othenhurg from 8 July to 6 Septem ber 1974.
‫ﺀ‬،'‫( ﻣﺢ‬London), 16 October 1974.
Tire course, which was finauced by the Swedish Inter-
،٠، Suez Canal Authority, September 1974. However, according
to press reports it was stated by the Egyptian Government that even
if the Canal becomes physically operative its reopening to world ،٠٠ OECD, Maritime Transport 1973: ‫ ه‬study by the Maritime
shipping will be dependent on the political settlement in the area. Transport Committee (Paris); see also The OECD Observer (P^ris),
‫ ﻣﺢ»هﺀك‬،'»،‫ س'ﺀ^ﺀ‬Shipping Gazette (Copenhagen), vol. 58, No. 11 N o. 7t (August 1974).
(November 1974). ،٠٠ See Review ٠/ maritime transport, 1972-1973 (op. cit.),
، ٠® Norwegian Shipping News (Oslo), 3 May 1974. paras. 296-293.

52
national D evelopm ent A uthority, was conducted in 213. Increased use has been m ade o f (he unit load
English an d was attended by 25 p artieipants from 19 system and in p articular o f containers in air cargo
developing countries. traffic. The ability to introduce the u n it system into
2©9. The ©ourse program m e eoneentrated on four air freight operations has been facilitated by th e advent
m ajor subjects: p o rt planning, p o rt productivity, financial o f the new generation o f w ide-hodied aircrafts, such as
m anagem ent and the application o f m o d ern m anagem ent the Boeing 747, w hieh was the h rst aircraft to carry
techniques to p o rt operations. In addition to leetures, 40 ft containers. Specialists in air tran sp o rt now claim
discussion groups an d sem inars, frequent use was m ade th a t air cargo rates are com petitive with surface rates.
o f business games an d case studies w ritten specifically H ow ever, while they have established a firm foothold
for training ©ourses o f this nature, an d visits to the p o rt in international interm odal traffic, airline operators have
o f C oth en b u rg , stevedoring, shipping eom panies and n o t been able to agree on ju st how “interm odai” they
tra n sp o rt undertakings in the area were organized. In should be.*‫®؟‬
addition, study to u rs were m ade to the p o rts o f H am burg, 214. F urtherm ore, despite a noticeable annual increase
L ondon, Dslo an d Stockholm , in o rd er to give the in the volum e o f goods transported by air, the air eargo
participants an insight in to how p o rt problem s were industry has n o t m ade the breakthrough th a t was
being taekled in diffierent countries. foreseen in this seetor a few years ago. The resistance
o f shipping to air com petition has been m uch stronger
2. Berth throughput seminars th an was originally foreeast. W eaknesses have also
21 ‫ ^ ﻣ ﻪ‬h is new activity, w hich was started in 1973 been found in the organization o f goods transported
with a view to assisting in the dissem ination o f the between airports, laborious docum entation,*‫®؟‬procedures
results o f U N C T A D ’s p orts research w ork directly to and delays which som etim es offiset the m ^jor benefit o f
p o rt m anagers in developing countries, was continued air transport, i.e. the quiek transit time. M oreover,
with the organization o f tw o fu rth er sem inars in in 1974 airline operators suffiered a setbaek because o f
C alcutta an d D ar-es-Salaam in F eb ru ary an d M ay 1974 increased fuel costs, the p articular im pact o f which
respectively, w hieh were attended by a to ta l o f 45 parti- was greater fo r air tran sp o rt th a n fo r sea transport.
eip^nts from 23 p orts in 16 countries.
F. Land bridges
E. Air transport
1. The Siberian
211. T able 34 illustrates the tren d in air freight
volum e for the p erio d 1968-1973 an d th e tre n d in air 215. !m erest in the use o f this land bridge appears
freight operating revenues for the same period. to be increasing in ©ontainer traffic. A ccording to
212. The percentage increase in freight volum e during press reports,*‫ ’؛‬in 1974 ab o u t 4,000 eontainers were
1973 was 17.2 per cent, w hich was significantly higher tran sp o rted m onthly to E urope via the Siberian route,
th an the 14.1 per eent recorded in 1972, o r th e 9.3 per as against 2,000 eontainers tran sp o rted in A ugust 1973.
eent reeorded in 1971. I t is w orth n oting th a t betw een O ther inform ation *‫ ؟؟‬suggests th a t the costs o f tran sp o rt
1968 and 1973 freight traffic, in term s o f to n kilom etres, through the Siberian land bridge have been as m uch
increased substantially m ore ( 86.2 per cent) th a n passenger as 30 per cent iower th a n the sea link-up. How ever, a
traffie (64.6 per eent) an d m any tim es faster th a n airm aii proposed 15 per cent rise in the Siberian land bridge
(6.3 per cent). (SLB) container freight rates on 1 O etober 1974 cam©
u n der strong eriticism from the Japanese M aehinery
T able 34 E xporters A ssociation an d five m ajor Japanese non-
Trends In air freight volume vessel-operating eom m on earriers (N ^OO Os),*‫ ®؟‬who
and in air frei^bt operating revenues, 1968-1973 believe th a t the rise in rates will inhibit expansion in the
(Scheduled operations ‫م‬/‫< ﺀ ه‬/ ‫ ﺀﺀ »'ﺀ‬o f IC A O member States) “٠ utilization o f th e land bridge.
216. A new land-sea-land groupage serviee for the
Freight operating
Freight volume revenues F a r E ast container traffie from E urope whieh started
T otal in 1974 will use the Soviet land bridge, ^ h e F om pre-
Ton- Per- revenue Per ton- Per- hensive Shipping C om pany (w ith the ? o r t o f L ondon
kilom etres centage (m illions o f kilom etre centage
Year (m illion) change dollars) (U S cents) change A uthority holding a 75 p er eent stake) was developing
the serviee w ith M A T T ran sp o rt (Cverseas) fo r the
(968 . . . . 8,320 27.4 1,401 16.8 + 2.4 Anglo-Soviet Shipping C om pany, the U nited K ingdom
1969 . . . . 9,970 18.8 1,650 16.5 - 1 .8
1979 . . . . 10,600 6.3 1,745 16.5 - 0 .6
197! - li,590 9.3 1,983 17.1 + 3.6 *٠٠ Container News (New York), voi. 9, N o. 6 (June 1974),
‫ا‬ 972- ]3,220 ‫ل‬4 . ‫ا‬ 2,277 17.2 + 0.6 in which an account was ‫ اج‬ven on discussions organized by this
^ubiication in w hkh five airhne car$o s^eeialists participated.
1973 . . . . .. 15,490 17.2 2,676» 17.3 + 0.6
*٠٠ N‫؛‬٠٢١٧ ?^/،?« Shipping News (Dslo), 16 May 1974.
S o u rce: lA T A , W orld A ir Transport Statistics, 1973. *٠’ Japanese Maritime Gazette (Tokyo), 16 October t974, and
‫ ﺀ‬D o m estic a n d in tefn atio n a! scheduled services; m a jo r exclusions, U S S R a n d Shipping and Trade News (Tokyo), 16 November 1974.
C hina.
*٠٠ Lloyd's List (London), ^9 M ay 1974.
١١ F ig u res revised by source, w hich d o n o t m a tch th o se in Review o fm a r itim e
transport, 1972-1973 (op. ‫ﺀ‬/‫ﺀ‬. ‫ ﻣﺮ‬ta b le 45. *٠٠ Shipping and Trade News (Tokyo), 2 August 1974, and
٠ IC A D prelim inary estim ates. ‫ ﺀ‬/‫ م‬.‫ ﺀص‬List (London), 14 September 1974.

53
operators o f the R ussian T rans-$iberian C ontainer
2. The United States land brige
217. This land bridge whieh in the business w orld
is know n as the “m ini bridge” has been developed to
serve goods m oving betw een the A ltantic coast o f the
U nited States an d th e E ar E ast in o rd er to avoid the
all-w ater route. F o r varions reasons it has been n n der
flre, p articularly from p o rts on th^ A tlantic coast o f the
U n ited States a n d other H ow ever, while
the right to offer direct-link services betw een th e East,
G u lf an d W est eoasts o f th e U nited States is heing
strongly contested before the fe d e ra l M aritim e Commis-
sion (FM G ) an d the C ourts, the volum e o f n n it trains
providing such service has show n a steady grow th.
O n the U nited States E ast coast alone m ore th an
30 U nited States an d foreign ffag operato rs now offer
land bridge an d m ini bridge services c o n n c tin g Europe
and the F a r E ast p o rts via a cross-conntry rail link to
W est coast ‫ ﺀ‬0‫ﻗ ﻤ ﻠ ﻤ ﺔا آ‬
218. T he disputes th a t arose eoncerning the mini
bridge in 1973 rem ained unresoived in 974 ‫ ل‬. G f interest
is the fact th a t in June !974 ١٠® th e G u tb o ard M arine
C o rp o ratio n urged the E M C to o verturn a recent initial
decision by an adm inistrative iaw ju d g e in which it
was determ ined th a t an application by th e Eaciflc W est-
b o u n d Conference to extend its exclusive patronage
(dual rate) co n tract system to include its overland
com m on p o in t (G C ?) territo ry should be approved.
H ow ever, while th e interested parties are p u ttin g their
respective argum ents to the E M C , a eo u rt ruiing aflows
١٠٠ Seatrade (Golcbester U .K.), ٧٥]. 4, N o. 8 (August ]974).
١٠١ See Review ٠/ M aritime Transport, 1972-1973 (op. cit.),
para. 308
١٠٠ Fairplay / ‫ءءص‬-»‫'ءﻣم‬،‫»ر‬،‫ء‬/ shipping Weekly (London), voi. 252,
N ٥٠ 4749 (29 August 1974).
١٠٠ Congressional Information ‫ا» ء‬-‫( « هء‬W ashington D.G.),
voi. 78, N o. 123 (25 June 1974), p. 10.
the land/m ini bridge shipm ents to continue until the
question has been settled^‫^؛‬
G. W orld cruise fleet
219. T he developm ent o f the w orld crnise fieet
during the period 1965-1974 is show n in table 35 . ‫ةﻣ ﺄل‬
I t can be seen from this table th a t over this 10-year
period the w orld cruise fleet has show n only a m odest
increase from 58 vessels totailing 1.25 m illion grt in !965
to 68 vesseis to tahing 1.35 m illion grt in 1973. T he
table shows, however, th a t there have been signiheant
qualitative changes from year to year in the fleet. These
changes were accounted fo r by the yearly deliveries o f
new buildings and deietions o f lost and strap p e d tonnage.
T he w orld cruise fleet provided 25,471 cabins and
45,529 berths fo r cruise passengers as o f 1 la n u a ry 1974 . ‫ﺀ ﺀل‬
220. The flag distribution o f the w orld cruise fleet for
1974 as eom pared w ith 1973 is given in table 36. It
can be seen from the table th at, in term s o f tonnage,
69.5 per cent o f the cruising capacity is offered by only
flve countries, nam ely the U nited K n g d o m , N orw ay,
Greece, Italy and ?an am a.
221. A t the beginning o f 1974, 36.4 per cent o f the
to ta l tonnage beionged to the age gronp o f 15 years and
above, while only 20.5 per cent h ad an average age o f
less th a n 10 years, inciuding the N orw egian tonnage,
which has an average age o f only tw o years.
222. The w ea^ dem and conditions w hich h a d been
experienced by the cruise industry since !972 persisted
in 1974. D uring this year, partieniarly as a result o f
١٠٠ Fairplay International Shipping Journal (London), voi. 252,
N o. 4749 (29 A u g u s t ‫ ا‬974( ‫م‬
١٠٠ ^ o r earlier years see Review ٠/ Maritime Transport, 1972-
‫وﺛم‬/ ‫؛■» ﻣم )ﻣﺢ‬.),. table 47.
١٠٠ Fearnley and Egers Gbartering Go. Ltd., World Cruise
Fleet, January 1974 (Oslo).

T able 35
Development ofth e world cruise fleet,* 1965-1974

E x is tin g jle e t 1st January NewbiiUdings delivered L o st ٠٢ scrapped

^،?٠٢ N um ber g rt N um ber g rt N um ber grt

1 9 6 5 . . . . . . . 58 1,250,098 3 65,697 47,580

1 9 6 6 . . . . . . . 58 1,268,215 4 78,835 12,812
1967. . . . . . . 61 1,334,238 — — 33,154
1 9 6 8 . . . . . . . 59 1,301,084 1 25,022

1 9 7 0 . . . . . . . 62 1,406,969 1 18,416
1 9 7 1 . . . . . . . 62 1,408,462 5 89,005 102,826
1 9 7 2 . . . . . . . 65 1,394,641 4 71,921 57,003
1 9 7 3 . . . . . . . 74 1,473,^78 4 76,779 71,057
1974. . . . . . . 68 1,349,425 — —

‫ﺀﻣﻤﺢ‬،‫ر‬-‫ ﺀﺀ‬.• F earnley a n d Egers C h arterin g c©. L td ., W orld Cruise Fleet, January 1974 (O sio).
٠ F earn ley a n d E gers deflne a cruise ship as an oeean-g©ing passenger vessel © (o v er 0‫و‬, ‫ ﻣﻪ‬g rt w ith !‫ ؟‬signiflcant carg o
space a n d s n i t ^ i e to ea te r (o r holid ay -m a k in g passengers sp en d in g ‫ ؟‬ro re th a‫ ؟‬tw o days o n b o a rd . F erries, p iigrim ships,
tro o p ea rriers a n d passenger vesseis h u itt b e(o re 1945 a re e^ciu d ed unless th e la tte r h av e b een extensively refltted since
I960. P asse n g er vessels registered in soeialist co u n tries 0 ( E a stern E u ro p e a re also excluded.

54
 T able 36
Flag distribution of the world cruise fleet, 1973 and 1974

Potential annual Average age

N um ber o f vessels g rt N um ber o fb e rth s passenger days ٠ p er vessel
Country 1973 1974 1973 1974 1973 1974 1973 1974 1973 1974

United Kingdom . . . . . 16 411,547 316,277 14,966 11,730 4,938,780 870,900،, 11

Norway . . . . . . . . . 9 12 ( + 3) 241,852 5,719 1,887,270 428,470‫؛‬,
G r e e c e ......................... 10 142,127 138,927 1,929,180 929,180, 19 ،‫ة‬
I t a l y ............................. 7 135,518 135,518 4,583 1,512,390 512,390, 17 18
Panam a . . . . . . . . . 4 98,137 104,894 3,575 3,636 1,179,750 199,880, 23 16
N etherlands... . . . . .
F r a n c e ......................... 4
4 Ij 92,077
110,615
100,777
91,876
3,168
2,76 ‫‘ف‬ 2,273
1,045,440
912,450
777,440,
750,090
14

L ib e ria ......................... 5 4 (-l) 73,594 2,778 916,740 840,840 22

Sw eden......................... 2 49,235 49,235 871 871 287,430 287,430 11
Federal Republic ©‫ ؛‬Germany 5 87,977 2,509 1,157 827,970 381,810
United States of America . . 5 81,502 ‫ة‬
:"‫أ‬ 590 777,150 194,700 19
Singapore . . . . . . . . — ( + 1) - 18,739 162,360 17
Yugoslavia........ 2 11,302 207,240 207,240 9
G anada . . . . . . . . . 1 5,812 5,812 81,840 24

T o ta l 74 (-6 ) 1,473,369 1,349,125 50,011 45,5 16,503,630 15,024,570 14

S o u r c e : F earnley a n d ‫ل‬ ‫؛‬C h arterin g C o . L td ., W orld Cruise Fleet , ‫ «« م‬،‫ م^ ا‬1973 ‫( ﻫﺎ ؛؛م‬,a n d W orld Cruise ‫ ﺀﺀاﺀ‬،, ‫ ﻣﺴﻤﺲﺀ»ه‬1974 .
٠ P o ten tial an n u a l pas‫؛‬ Г days is nu m b e r o f berth s m ultiplied b y 330 days in o p e ra tio n‫؛‬.

sharply increased b unker costs, several o f the older
w ell-know n ships in the cruise m ark et were w ithdraw n
from service. I t appears th a t the tendency in the industry
is fo r building relatively sm aller pnrpose-huilt cruise
ships w hich carry an increased num ber o f passengers
p er to n an d which are consequently m ore econom ical
to operate. G enerally, it appears th a t the cruise
m arket has been hit by severe financial troubles and
th a t bankers have shotvn increasing reluctance to finance
this type o f tonnage. The revival o f the cruise m arket
depends largely on the in ternational eeonom ic situation,
b u t w ith high rates o f infiation becom ing world-w ide and
w ith the fluctuating m onetary situation the prospects
do n o t look particularly encouraging.

55
 ANNEXES

ANNEX I
Classification of countries and territories ‘

Notes Code 2— Japan

Code 3— Australia and New Zealand
Note I
Code 4— Northern and Western £،،‫ء‬-‫ﻫﻣم‬
This classification is designed to be applied to statistics on seaborne
trade and merchant fleets. Seaborne trade Is recorded at ports (Austria) ttaly
of loading and unloading. The trade of the ports of a country Belgium M onaco
or territory may therefore include goods originating in or destined Denmark Nefiierlands
for another coumry or ^ rrito r^ , such as a neighbouring land- Faeroe Islands Norway
locked country or territory. The trade o f land-loeked eountries Finland Sweden
or territories cannot be identified in seaborne trade statistics, and France (Switzerland)
these countries or territories are not explicitly ineluded in the trade Germany, Federal Republic of United Kingdom o f Ureat Britain
elassification. However, when the classification is appiied to regis- Iceland and Nortlren Ireland
tered merchant fleets, land-locked countries or territories possessing Ireland
merchant fleets are Ineluded in the appropriate geographical groups
of countries or territories. Code 5— Southern Europe
Note 2
Gyprus Fortugal
The groups of eountries or territories used for presenting statistics G ibraltar Spain
In this review are made up as follows; Greece Turkey
Developed market-economy countries, excluding $outhern Malta Yugoslavia
Europe: Godes 1, 2, 3, 4 and 10.4.
Southern Europe; Gode 5.
Code 6— Central and Eastern Europe (excluding
Socialist countries of Eastern Europe and Asia: Codes 6, 7 and 8. Union o f Soviet Socialist Republics)
Developing countries, total: Codes 9, 10 (excluding 10.4), 11
and 12. A lbania (Hungary)
Bulgaria ?©land
O f which: (Czechoslovakia) Romania
In Affica: Godes ]0.1, 10.2 and 10.3. German Democratic Republic
in Asia: Codes 9.1 and 9.2.
in Eatin America and the Caribbean; Codes 11.1, 11.2, 11.3,
Code ?— Union ‫م‬/‫ﻣﻚ ؛‬ ’‫^ ﺀ‬Socialist
، Republics
in Dceania: Code 12. Code 8— China, Democratic ‫مءءم‬/‫ ء’ ء‬Republic ofKorea,
Note 3 Democratic Republic ٠/ Viet-Nam
In annexes and tables showing statistics o f shipping tonnage Code 9— Asia, n.e.s.
by groups of countries, however, Cyprus (included in 5), Liberia Western Asia
(included in 10.2), Panam a (included in 11.2), Singapore (inciuded
Bahrain Lebanon
in 9.2) and Somalia (ineluded in 10.3) have been exciuded from
D emocratic Yemen ©man
the appropriate groups and shown in a separate group, for reasons
Iran Q atar
explained in paragraph 40 o f the Review ٠/ maritime / 7 ‫ء‬-‫اﻣﻣﺳﻪ‬ ,
Iraq Saudi Arabia
1972-1973.'■
Israel Syrian A rab Republic
Iordan United A rab Emirates
Classification of coa^rics and territories °
Kuwait Yemen
Code 1— North America 9.2 Southern and Eastern Asia
Bermuda St. Pierre et Miqueion Bangladesh Maldives
C anada United States o f America Bhutan ?aklstan
Greenland Brunei Philippines
Burma Portuguese Tim or
‫ ء‬The classification o f countries in this annex is intended for Hong Kong Republic of K orea
statistica! convenience and does not necessarily Imply a judgement India Republic o f Vlet-Nam
regarding the stage o f development o f any particular country. Indonesia Ryukyu Islands
، United N ations publication. Sales N o. E.75.II.D.3. Khm er Republic Singapore
‫ ء‬Countries shown in parentheses are land-locked countries M acao Sri Eanka
with merchant fleets (see note 1 above). Malaysia Thailand
 Code 10— Africa Cayman Islands St. Kitts-Nevis-Anguilla
10.1 Northern Africa Cuba St. Lucia
Algeria Libyan A rab Bepublic Dominica St. Vincent
Canary Islands Melilla Dominican Republic Turks and Caicos Islands
Ceuta Morocco Grenada Virgin Islands (United Kingdom)
Egypt Tunisia Guadeloupe Virgin Islands (United States)
Ifni Haiti

10.2 Western Africa 11.2 Central America

Angola Nigeria Honduras
Cape Verde Islands Portuguese Guinea Canai ^one Mexieo
Congo St. Heiena Islands Costa Kica Nicaragua
Dahomey Sâo Т о т б and Principe El Salvador ?anama
Equatorial Guinea Islands Guatemala
Gabon
Gambia Sierra Leone 11.3 South America-Northern seaboard
G hana Spanish Sabara Guyana Surinam
Guinea Togo Erench Guiana Trinidad ai [ Tobago
Ivory Coast U nited Kepublie o£ Cameroon Netheriands Antilles Venezuela
Liberia Zaire
M auritania 11.4 South America- Western seaboard
10.3 Eastern Africa Chile Ecuador
Colombia ?eru
(Burundi) Mozambique
Comoro Islands Réunion 11.5 South America-Eastern seaboard
Ethiopia Seychelles
French Territory of the Argentina (?araguay)
Somalia
Brazil Uruguay
Afars and Issas Sudan
Falkland Islands [Malvinas]
Kenya (Uganda)
Madagasear United Republie of Tanzania
Mauritius (Zambia) Code . -Oceania, n.e.s.
American Samoa New Guinea
10.4 Southern Africa
Christmas Island New Hebrides
South Africa ?ap u a
Code 11— Latin America E ^ n c h Bolynesia Solomon Islands
I I . 1 Caribbean Gilbert and Ellice Islands Tonga
Antigua lam aica G uam Wake Island
Bahamas Martinique N auru Western Samoa
Barbados M ontserrat New Caledonia

57
 A N N EX п
World! ‫ ﺀ؛‬according to geograplii ‫ أ‬and 1969-1972
Million tons ( (

٠٠٠^ loaded ٠٠٠ ^ unloaded

C rude Petroleum D ry T o ta l C rude Petroleum D ry Total

A rea ١١ petroleum products cargo a ll goods petroleum products cargo a ll goods

1. N©rth America 0.1 3.4 190.7 115.2

0.2 4.1 210.6
I 125.0

I
970 0.7 128.0 305.0
971 0.2 170.4 3‫ ة‬3.0
0.2 30o!o 140.0 109.7 173.8

2. Japan 0.8 22.0 14.0 115.0

0.7 39.8 40.6 143.9 22.2 204.5 3?0.5
970 0.3 41.6 41.9 170.4 30.4
971 0.1 0.7 52.5 191.7 m l
972 1.0 51.9 54.2 217.3 27.4 ^76.9 521.6

3. Australia and New Zealand 25.2 26.5 18.7 2.0 34.4

0.8 23.1 41.2
970 92.3 93.6 18.8
971 0.7 114.7 117.3
972 0.5 121.1 123.2 11.7 16.1

4. N orthern and western Europe

970
971
0.3

1б!з
19.5
50.0
67.8

74.1
165.2
213.3
216.6
217.5
215.5

308.7
311.0
308.2
495.2
567.7
591.0
323.3

420.9
407.6
i
.‫ م‬95.5
25.2 231.6 337.4 619.7 419.4 144,9:,

Southern Europe 0.8 18.6 19.4 33,1

25.2 30.7 32.8
970 6.0 27.0 33.0 7.6 45.0 93.1
971 0.1 4.7 46.6 9.0 163.8
5.4 31.0 36.4 54.1 9.9 52.5 116.5

Central and eastern Europe

(excluding USSR) . . . . 0.4 3.6 22.1 2.4 ^2.6 26.9
969 0.1 8.0 3.0 23.4 34.5
970 0.2 3.4 34.8 10.8 3.0 29.2 43.6
971 34.7 14.7
972 40.5 16.3 2.6 32.7 51.6

7. USSR 18.0 79.1 12.7 12.8

36.1 47.2 105.0 9.6 11.1
970 22.9 46.0 106.9 2.5 11.9 14.4
971 43.6 ^4.2 44.7 112.5 10.0 15.1
40.9 24.0 44.4 109.3 0.1 22.1 30.0

8. China, Democratic People’s Republic of

K orea, Democratic Repubiic o f Viet-
N a m .......................................................... 1965 7.6 7.6 0.2 0.3 11.8
1969 0.2 0.4 14.0 14.6
1970 0.1 3.4 5.4 0.4 24.4 30.2
1971 0.4
1972 9.4 9.4 0.3 15.4

9.1 Western Asia 1965 348.7 43.3 5.5 397 ia 9 13.0 25.9
1969 6.0 591 17.9 29.5
1970 601.9 18.6 33.2
1971 717.0 16.5 22.7 40.7
1972 820.4 24.0 ^4.5 50.8
 ANNEXEE (continued)
World seaborne trade ‫؛‬
(M iiiion tons)

Goods loaded ٠٠‫س ضه‬/ ‫ﻣﺢﺀﻫﻬﻢ‬

C rude Petroleum D ry T o ta l C rude Petroleum ٢‫ه‬

‫م‬ Total
A rea ‫ه‬ ‫ﺀﺀ‬،‫ا‬-‫ م‬/‫ﺀ«>ﺀه‬ products cargo ‫ﺀﺀ‬//‫ ﻛﻤﺤﻤﻤﻚ‬petroleum products cargo ٠// goods

9.2 Southern and Eastern Asia, n.e.s. . . 1965 14.6 13.1 65.5 93.3 23.3 17.0 98.5
1969 29.3 18.8 84.5 132.5 51.8 23.1 67.8 142.7
1970 35.0 23.7 89.3 148.0 54.7 61.9 139.9
1971 39.5 25.7 90.2 155.4 63.4 67.4 153.3
1972 51.9 28.4 101.3 181.6 76.3 79.7 178.0

10.1 N orthern Africa 1965 84.6 3.4 29.2 117.2 10.9 3.9 16.3 31.1
1969 202.9 6.7 238.1 10.3 5.6 16.9 32.8
1970 221.4 5.6 28.3 255.4 5.9 17.9 33.8
1971 179.2 5.8 26.9 211.9 11.3 4.5 19.0 34.8
1972 161.9 8.1 27.8 197.8 11.4 4.4 21.1 36.9

10.2 Western A hica 1965 14.7 0.3 41.1 56.1 1.5 4.6 9.9
1969 32.9 1.4 90.8 4.3 12.1 19.9
1970 60.5 1.0 61.5 123.0 3.6 4.0 14.8 22.4
1971 81.1 1.4 58.1 140.7 3.8 16.0 23.3
1972 98.4 1.6 159.2 4.4 3.7 15.2 23.3

10.3 Eastern Africa 1965 — 0.5 11.0 11.5 3.0 6.2 13.2
1969 — 0.8 14.8 15.7 7.0 14.9
1970 — 1.2 16.1 17.3 8.3 16.4
1971 — 1.1 16.8 17.9 6.1 10.3 18.9
1972 — 1.0 16.9 17.9 6.1 8.7 17.6

10.4 SouthernA frica 1965 — 0.3 8.3 8.5 4.7 1.5 6.2 12.4
1969 — 0.1 12.1 12.2 7.7 2.4 4.2 14.3
1970 — — 13.1 13.2 8.8 2.6 6.2 17.6
1971 — — 15.2 15.2 12.5 3.3 7.8 23.6
1972 — — 17.8 17.8 11.8 2.1 6.7 20.6

11.1 Caribbean . 1965 — 0.2 20.4 20.6 4.8 3.0 7.2 15.9
1969 — 0.2 22.0 22.3 6.3 4.0 7.6 17.9
1970 — 1.4 28.4 29.8 23.5 4.5 11.2 39.2
1971 2.6 26.6 25.9 55.1 51.4 5.8 11.8 69.0
1972 2.8 25.5 24.2 52.5 32.9 5.5 10.6 49.0

11.2 Central America 1965 1.0 2.6 9.9 13.5 3.5 3.4 4.1 10.9
1969 — ١٦ 12.0 14.8 5.9 4.7 5.5 16.0
1970 — 3.7 11.9 15.6 6.0 5.5 6.5 18.0
1971 — 2.3 13.3 15.6 6.9 6.4 6.7 20.0
1972 — 2.2 14.3 16.5 8.4 6.7 6.9 22.0

11.3 South America, northern seaboard . . 1965 123.3 99.2 27.7 250.2 53.9 3.0 4.7 61.6
1969 132.3 102.7 33.6 268.5 57.0 4.1 5.9 67.0
1970 131.1 111.8 36.0 278.9 63.1 3.0 6.7 72.9
1971 121.5 80.8 36.2 238.5 41.0 2.8 6.3 50.1
1972 111.8 72.5 38.1 222 4 40.5 3.2 6.9 50.6

11.4 South America, western seaboard ٠ . 1965 6.0 0.8 25.9 32.7 1.1 1.5 5.1 7-7
1969 5.4 1.7 28.4 35.6 4.0 1.0 6.4 11.3
1970 4.6 1.6 29.8 35.9 4.1 1.5 5.9 11.5
1971 3.8 1.7 30.2 35.7 5.8 0.9 5.7 12.4
1972 5.5 2.2 25.8 33.5 6.5 0.6 6.0 13.1

59
 А Ш Е Х и (concluded)
World seaborne ^ a d e ' land 1969-1972
(Million tons)

Goods /‫ﻣﺢﺀﻣﺤﻬﻢ‬ Goods unloaded

C rude Petroleum D ry T o ta l C rude Petroleum ‫اه‬-‫م‬ T o ta l

A rea" p etroleum products cargo a ll goods petroleum products «،‫؛‬٢^٠ a lt goods

11.5 South America, eastern seaboard 1965 0.8 34.4 35.3 1.4 29.8
1969 0.2 43.2 43.4 17.1 !?.?
1970 0.1 54.3 18.8 1.0 19.8 39.6
1971 0.7 0.6 56.9 2^.2 3.7 19.3 45.2
1972 1.1 53.4 25.5 2.4 20.9

12. Oceania, n.e.‫؛‬ 1965 0.9

1969
1970
1971
0.2
0.4
9.5
9.2
0.6
1.4

1.7
I
1972 0.1 0.5

W o rld total 1965 67?» 242.3 1.632.9 22L7 637.2,

1969 974.5 296.fi 277.4 223.7‫؛‬,
197» 1, ‫ ﻫﻞ‬9.9 332.5 1,124.2 2,566.6 1, 101.2 . i 490.7‫؛‬,
1971 1,2©9.7 319.7 1.162.5 2.691.9 1,198.7 1,133.7
1972 1,321.7 322.3 1.221.5 1,316.2 317.5 1,218.6

‫ﺀ‬،<‫ ; ﺀﺀﺳﻢ‬D ata communicated to the U N CTA D secretariat by the Statistieai Office 0( the United N ations; estimated data: the world totais do n ot correspond exactly
to the rounded total ‫ل‬n tahle 1 In the text.
٠ Excluding international cargoes loaded at ?o rts oflthe G reat Lakes and St. Lawrence system ^or unloading at ^orts oflthe system. Including petroleum imports
into N etherlands Antilles and Trinidad for refining and re-export. G reat Lakes and Sc. Lawrence trade (in dry cargo) am ounted to 37 million tons in 1965, 37 million
tons in 1969, 42 milhon tons in 1970, 37 milhon tons in 1971, and 39 mihion tons in 1972.
١١See annex I for the composition o f these groups.
 ANNEXш
Distribution o f world tonnage by flag of registration ‫ ﺀ‬and type o f ship,
in order o f size of fleets, in grt and dwt, as at 1 July 1974
(dwt figures are shown in parentheses) ٠

O f which:

i; o f registration^ Total tonnage ‫د‬ Tankers Bulk carriers ٠ General cargo ‫ﺀ‬ Container ships Other ships

1. L i b e r i a 55,321,64! 33,749,633 17,459,426 3,402,731

(103,744,205) (66,070,9??) (31,830,506)
16,012,234 5,442,698
(62,175,855) (29,585,885) (20,696,092)
3. fln h ed K ingdom of C reat Britain
and N orthern Ireland . . . . . . 3!,566,298 15,203,281 7,564,706 5,024,576 ,351,9 2,42],753
(50,345,001) (27,898,861) (12,885,032)
(25) B e r m u d a 1,153,280 ^78,402 30,927 22,046
(451,170)
(49) H ongkong . . . . ٠ .. ٢ ’269‫ث‬945‫ل‬ 127,641 111,097 23,747
(375,388) (11,705) (211,225)
(82) Cayman Islands . . . . . 39,717 2,4 ‫ﻟﺔ‬

(90) C ibrahar . . . . .‫ إ‬8 ‫ئ‬293‫ر‬٠. ٠ 26,793 1,500

(40,823) (38,667)
(110) St. V in cen t 4,808 3,602 1,019 187

(111) New Hebrides . . . . . . ‫ ﺋﺈ‬91‫رة‬ 4,916

(115) Falkland Islands (Malvinas) ‫ئ ?؛‬93 ‫را‬ 537 7,394

(118) Seychelles . ‫ئ ؟‬90 ‫ال‬٠. . . .٠ ٠ 192 114

(3,050) (2,700)
(121) T ur^ I s l a n d s . . . . . . . 1,572 1,323

(D 4) Virgin Islands (U K ). ‫ إاا‬127‫ ر‬. . ٠ 978 149

(125) M ontserrat . . . . . . . 949 949

(127) C ilbert and Lllice Islands . ، ‫ ﺋﺎ‬518‫ل‬ 1,518

(129) Belize . . . . . ٠ ٠ . . . ‫ ا‬620‫ر‬ 620

(131) Solomon Islands . . . . . 629

(483)
( 1 3 5 ) S t.U u c ia 904 904
(140)
(136) St. K itts, Nevis and Anguilla 256

4. N o r w a y . . . . . . . . . . . . 24,852,917 9,138,201 1,968,634 1,490,587

(42,765,686) )23,126,803 ( (15,573,303)
5. C r e e c e 21,759,449 7,12?,608 6,361,392 37,313 673,484
(35,975,152) ) б17’,13,’835( (12,385,431)
6. U nion of Soviet Socialist ^epublies 18,175,918 3,658,025 520,442 6,854,104 48,156 7,095,191
(19,037,489) ) 5,400,699 ( (797,236)
7. P a n a m a 1 1 ,3 ,2 2 7 ‫س‬ 4,681,757 1,852,802 3,711,791 17,930 738,947
(17,572,996) )8,405,299( (3,059,875)
8. United States of America
(estimated active sea-going fleet) 10,?6?,6?9 ,843,409 1,677,915
(15,147,875) )8,257,353( (828,814)
9. F r a n c e 8,834,519 1,169,041 138,770 699,261
(14,462,495) (1,977,409)
10. I t a l y 9 ,3 2 1 5 ‫ﻣ ﺔ‬ 3,142,666 97,199 1,264,303
(14,085,675) )б’,411 ‫؛‬0 ? 2( (5,382,088)
11. Federal Republic o f Cerm any . ٠ 7,980,453 2,140,635 2,066,815 6 2 5 ,6 7 2 4 9 4 ,9 2 3
(12,467,278) )3,945,852( (3,525,012)

61
 ANNEX ш (continued)
Distribution of world tonnage by flag of registration ‫ ﺀ‬and type of sbip,
in order of size of fleets, in grt and dwt, as at 1 July 1974
(dwt figures are shown in parentheses) ٠

O f w hich:

Fiag ٠/ registration ‫ﺀ‬ T otal / Tankers B u lk ca rriers ‫ﺀ‬ ‫رﺀ»ﺀه‬-‫اهﺀ ; ه‬-‫ﺀ مﺀ‬ Container ships o th e r ships

12. Sweden . . . . . . . . . . 2,443,635 1,060,981 153,998 423,046

9,885,974)( (4,057,189) (4,165,165)
13. Netherlands . . . . . . . . 5,500,932 2,514,003 468,036 153,181
8,302,180)( (4,497,327) (756,491)
14. Spain . . . . . . . . . . . 4,949,146 2,260,109 998,143 20,938 783,890
7,389,000)( (1,533,937)
15. D enm ark . . . . . . . . . 4,460,219 2,197,994 537,122 1,145,260 178,694 40 ‫ ل‬49,!
7,119,616)( (4,160,358) (897,704)
(96) Faeroe Islands . . . . 7,279 37,374
25,149)(
16, India . . ٠ . .٠ ٠ . .٠. 3,484,751 527,056 1,495,942 1,311,305 8,014 42,434!
(889,782) (2,562,071)
17, Cyprus - 601,362 381,612 2,327,953
4,966,760)( (944,671) (578,714)
18, Singapure . . . . . . . . . 2,878,327 745,555 57,179
4,396,079)( (1,230,311)
19, Brazil ٠ ...٠ ٠ ...٠ 885,557 496,800 956,084 90,53 !
s)‫؛‬ (1,514,827) (894,783)
20, ?©land . . . . . . . . . . 2,292,318 38,244 824,819 1,105,406 323,849
3,119,309)( (56,084) (1,274,168)
s© m alia. . . . ٠ . .٠ . . 1,916,273 137,529 364,056 1,409,550 5,138
2,881,668)( (225,199) (578,328)
22. China . . ٠ . .٠. ٠ . . 1,870,567 276,218 194,182 1,342,826 57,341
2,691,458)( (428,759) (315,906)
23. Yugoslavia . . . . . . . . 1,778,423 250,396 497,772 977,436 52,819
(423,480) (8^4,609)
24. Finland . . . . . ٠ ٠ . . . 1,507,582 64,355 513,917 193,633
2,090,558)( 1,20)‫ ة‬937!( (93,850)
^epublio of ^ o re a . . . . . 1,225,679 462,126 204,224 372,852 173,793
1,858,550)( 832,373)( (332,891)
27. Belgium . . . . . . . . . 1,214,707 333,522 442,002 303,139 1,036 105,008
1,807,302)( 548,901)( (753,865)
Argentina . . . . . . . . . 1,408,129 520,047 124,799 627,472 135,811
1,798,802)( 763,847)( (192,871)
29. Portugal ٠ . .٠ ٠ . .٠. 1,243,128 549,016 73,204 401,743 6,336 2,829(
2
1,753,954)( 976,055)( (117,063)
30. Australia . . . . . . . . . 255,408 442,011 222,307 83,123 165,518
1,577,412)( 414,223)( (686,005)
(100) New Guinea . . . . . 11,850 5,494
18,740)( 165)(
31. Germ an Democratic Republic 1,223,859 172,078 207,187 625,998 218,606
1,555,340)( (293,908) (318,457)
32. Turkey . . . . . . . . . . 971,682 D0,241 366,770
1,304,503)( 551)‫ئ‬379( (186,527)
33. Bulgaria . . . . . . . . . 864,939 288,567 196,532 270,395 109,445
1,209,392)( (460,358) (277,061)
34. Kuwait . . . . . . . . . . 423,740
1,132)‫ إ‬134( (793,637)
35. Philippines . . . . . . . . 766,478 115,719 44,431 565,372 40,965
1,017,142)( (178,669) (76,718)
36. In d o n e s ia 762,278 592,499
928,727)( ( 1 1 1 ,’з 21 ) (9,250)

62
 ANNEX ш (continued)
Distribution o f world tonnage flag of registration ‫ ﺀ‬and type of ship,
in order of size of fleets, in grt and dwt, as at 1 July 1974
(dwtfigures are ^ ٠١٧« in parentheses) ”

O fw h ic h :

‫ ﺀ‬o f registration ‫ﺀ‬ T otal tonnage ‫د‬ T ankers B u lk carriers ‫ﺀ‬ G eneral cargo ‫؛‬ Container ships o th e r ships

610,982 150,653 207,065 150,078 103,1

37. Rom ania . . . . . . . . . . .
(870,971) (259,279) (304,400)
611,300 288,015 220,338 4,112 17,9
38. Israel . . . . . . . . . . . . .
(850,052) (1,576) (455,466)
933,388 205,481 115,560 279.985 33‫ ة‬3
39. C anada (excluding G reat Lakes)
(826,659) (268,557) (179,209)
514,544 276,767 32,105 109.985 95,e
40. Mexico . . . . . . . . . . . .
(687,183) (438,889) (50,760)

41. Pakistan . . . . . . . . . . . 494,065 11,950 444,816

(677,511) (17,250)
42. Venezuela . . . . . . . . . . . 480,230 119,894
(648,046) (448,203)
513,875 80,940 102,678 201,649 128,608
43. Peru
(604,185) (122,162) (165,530)
535,322 27,355 40,573 291,862 175,532
44. South ALica . . . . . . . . .
(597,410) (38,010) (61,520)

45. Cuba . . . ٠ .. ٠ ٠ . . . . . 409,064 51,908 277,864

(536,688) (77,805)
208,153
46. Chile . . . . . . . . . . . . . 364,364
(525,587) ).‫ ة‬:‫ةئ‬ (102,362)
132,822
47. Malaysia . . . . . . . . . . . 337,511 183,836
(463,120) 6)‫ إ‬895( (288,393)
48. Iran . . . . . . . . . . . . . 291,928
(386,295) ‫ق‬:‫( أﺋ ﺄ‬ 210,848

31,675
50. fraq . . . . . . . . . . . . . 229,603 150,185 47,743
(324,456) 246,656)(
5 1 .L g y p t . . . . . . . . . . . . 248,591 143,015
(304,795) 10)‫ ا‬826’(
199,732 1,600 54,064 143,791 277
52. Stvitzerland . . . . . . . . . .
(301,327) 2,901)( (83,968)
239,815 87,051 23,494 60,765 68,505
53. Algeria . . . . . . . . . . . .
(296,381) 135,710)( (34,314)
160,180 147,060 7,560 5,560
54. Libyan A rab Republie . . . . .
(286,035) 268,351)(
208,700 3,381 148,319 13,023 9,702 34,275
55. Ireland ٠ . . ٠ . . . . . . . ٠
(275,882) 4,314)( (230,290)
211,083 4,050 200,972 6,061
56. Colombia . . . . . . . . . . .
(269,268) 5,765)(
176,315 90,503 71,381 14,431
57. Thailand . . . . . . . . . . .
(267,531) 158,619)(
58.R aham as . . . . . . . . . . . 153,202 48,735 40,052 47,590
(218,870) 78,026)( (62,126)
59. Uruguay . . . . . . . . . . . 130.147 92,757 ^9,830
(204,061) 151,168)(
173,018 122,498 50,520
60. G hana
(193,159)
61. Gzeehoslovakia . . . . . . . . 116.148
(188,581) ).‫( ة; ة‬ 34,155

62. L e b a n o n 120,130 112,903

(179,954)
 ANNEX ш (continued)
Distribution o f world tonnage by flag of registration ‫ ﺀ‬and type of ship,
in order of size of fleets, in grt and dwt, as at 1 July 1974
(dwt figures are shown in parentheses) »

O f which ;

Flag o f registration ٥ Total / Tankers Bulk carriers ‫ﺀ‬ General cargo ‫أ‬ Container ships Other ships

63. A ustria . . . . . . . . . . . . 97,067 22,712

(176,457) (34,188)
64. New Zealand . . . . . . . . . 163,399 116,166 47,233
(174,052)
65. Ivory Coast . . . . . . . . . . 121,276 113,737
(173,103)
Eeuador . . . . . . . . . . . 128,473 6,101
(170,836) (112,’810)
67. Nigeria ٠ ٠. .. .. .. . . ٠ 121,301 2,467 106,027 12,807
(157,772) (3,443)
115,612 16,001
(157,098) (14,’258)
Iceland . . . . . . . . . . . . 148,695 2,434 56,310 89,951
(122,039) (3,756)
70. Maldives . . . . . . . . . . . 78,663
(98,358)
71. Saudi A rabia . . . . . . . . . 61,275 37,816 3,931
(83,241) (31,744)
M adagascar . . . . . . . . . . 53,409 20,179
(82,219) (31,626)
A lbania . . . . . . . . . . . . 57,068 300
(78,’oOO)
74. H onduras . . . . . . . . . . . 69,561 3,503
(75,549) (1,703)
N auru . ٠ ...٠ ٠ ...٠ ٠ 19,564 38,701
(73,’882) (31,953)
76. Burm a - - - 54,877 1,478 45,449 7,950
(72,711) (1,709)
77. Hungary . . . . . . . . . . . 49,150 49,150
(68,119)
78. Sri Lanka . . . . . . . . . . . 54,099 1,454 42,619 10,026
(65,748) (2,084)
79. Republic of Viet-Nam. . . . . . 5,016 35,918
(63,224) (8,531)
M orocco . . . . . . . . . . . 52,564 39,799
(63,139) (1,015)
81. Sudan . . . . . . . . . . . . 45,943 1,120
(58,863)
Zaire . . . . . . . . . . . . . 34,646 4,320

D emocratic People’s Repubiic of

)‫أق‬:‫( ةأ‬
60,347 41,290
K orea . . . . . . . . . . . .

M alta . . . . . . . . . . . .
55,458)(
38,011
>.
‫ ة‬:‫( ﻧﺄة‬
27,442 4,9 6 1
51,791)( 44,242)(
N icaragua . . . . . . . . . . . 33,240 4,026 8,670 20,544
48,190)( 6,107)( (10,917)
M auritius . . . . . . . . . . . 33,281 3 0 ,8 8 3
45,126)(
C abon 33,159 347 10,503
44,508)( (258) (15,537)
 ANNEX ш (continued)
Distribution of world tonnage by flag of registration ‫ ﺀ‬and type of sbip,
in order of size o f fleets, in grt and dwt, as at 1 July 1974
(dwt figures ،‫؛‬re shown in parentheses) ٠

O f which:

Flag o f registration ٠ Total ،ownage‫ﺀ‬ Tankers Buik carriers ‫ﺀ‬ Générai cargo ' Container ships Other ships

89. United A rab Emirates . . . . . 15,118 10,994 2,333

(41Д81) (22,509)
91. Tunisia . . . . . . . . . . . . 28,561 16,874
(38,545) (9,’б00)
92. United Republic of Tanzania . . 28,371 25,593
(37,262) (261)
93. M onaco . . . . . . . . . . .
840‫؛‬
35)( (35,331)
94. Kenya . . . . . . . . . . . . 3,197 10,947
‫!ق‬:‫ﻣﺔة‬ (5,054)
95. Ethiopia . . . . . . . . ٠ ٠ ٠ 25,034 2,051 21,759
31,400)( (2,980)
97. Paraguay . . . . . . . . . . . 21,930 2,935 3,429
23,619)( (4,114)
20,499 6,045 10,578
20,554)( ) ‫ ث‬246,’
(
99. Guinea . . . . . . . . . . . . 10,764 4,13^ 642
20)‫ئ‬108( (15,290)
01. Dom inican Republic . . . . . . 674 9,188 2,101
16)‫ م‬48( (1,609)
4,719
02. G uyana . . . . . . . . . . . .
)‫ أ؛‬:‫إ؛ق‬ 943
(1,202)
10,027

03. Trinidad . . . . . . . . . . . 15,574 7,195 5,651

12,331)( (3,440)
©4. Guatem ala ٠٠٠ . ٠٠ . . . . 8,222 250
)11 ,022(
©5. Tonga . . . . . . . . . . . . 9,081 6,827 2,^54
9,939)(
06. U ganda ٠ ٠. .. .. .. . . ٠ 5,510 5,510
9,115)(
07. Zambia . . . . . . . . . . . . 5,513

08. Démocratie Republic o f Viet-Nam

)‫( ة؛ أأ‬
9,151 314
2,515)( (500)
09. F i j i . . . . . . . . . . . . . . 7,041
6,521)( (400)
12. Ja m a ic a . ٠ ٠ . .٠ . .٠ . . . 6,740 6,094
6,064)(
13. Bahrain ٠ . .٠ . .٠. .. . . 5,140 433 1,168
6,054)( (575)
14. Sierra Leone . . . . . . . . . 5,045 165 3,033
5,368)( (150)
1 6 .G o s ta ^ ic a . . . . . . . . . . 5,603 1,971
5,050)(
17. Démocratie Yemen . . . . . . . 2,180 1,213
5,113)(
19. K hm er Republic . . . . . . . . 2,090 210
2,862)(
20. Syrian A rab Republic . . . . . 2,643 1,6 5 7
2,807)(

65
 т т х ш (concluded)
Distribution of world tonnage by flag of registration “ and type of ship,
in order of size of fleets, in grt and dwt, as at 1 July 1974
(dw tfigures are shown in parentheses) ‫>ا‬

O f which:

Flag o f registration ‫ﺀ‬ Total tonnage^ Tankers Bulk carriers ٠ General cargo ‫ﺀ‬ Container ships Other ships

122. O man . . . . . . . . . . . . 2,249 1,023

(2,125)
123. Yemen . . . . . . . . . . . . 1,260
(1,850)
126. G am bia . . . . . . . . . . . . 1,337 641 696
(1,065)
128. U nited Republic o f Cameroon . , 3,199 3,199
(933)
130. . . . . . . . . . . . . 200 728
(525) (350)
132. G renada . . . . . . . . . . .
(340)
133. M auritania . . . . . . . . . . 1,681
(334)
134. Dahomey . . . ٠ ٠ . . . . . . 474 474
(150)
137. £1 S a l v a d o r . . . . . . . . . . 291 291
(55)
138. B a r b a d o s 3,897
139. C o n g o 1,534 ‫ ا‬,534
140. Jordan . . . . . . ٠ . . . ٠ . 200 200

Other (unallocated) . . . . . . . . . 1,416,833 331,741 386,403 620,606 7,6 70,461

(2,110,699) (587,741) (631,698)

W orld T O T A L‫؛‬ 306,134,619 129,2 9,203 76,641,897 ;,865,077 3,404 135,038,

(486,931,263) (237,9 8,680) (131,204,357)

S o u rc e : L lo y d ’s R egister o fS h ip p in g : Sta tistica l Tables, 1974 (L o n d o n ), n n d su p p lem en tary d a ta reg ard in g ‫؛؛‬١٠ G re a t L akes fleets o f th e U n ite d S tates o f A m erica
a n d C a n a d a a n d reg ard in g th e U n ite d S tates R eserve fleet.
٠ T h e designations em ployed in this ta b le refer to flags o f reg istratio n a n d d o n o t im ply the expression o f an y o p in io n b y th e S ecretaria t o f th e U n ite d N atio n s co n -
eerning th e legal statu s o f ‫ق‬ny eo u n tr^ o r te rrito ry , o r o f its autho rities, o r eo n cern in g th e delim itatio n o f its fro n tiers.
‫ ﺀ‬G r t figures a re sh o w n o n th e first lin e; w here available, d w t figures are sh o w n in p arentheses o n th e seco n d line.
٠ I n th e ease o f flags o f hom self-governing territo ries, w hieh are listed o n t o f r a n k o rd er, th e n u m b e r ind ieatin g r a n k orde^ is sh o w n in parentheses.
‫ ه‬Ships o f 100 g rt a n d over, exeluding th e G re a t L akes fleets o f th e u ^ t e d S tates o f A m erica a n d C a n a d a a n d th e U n ite d S tates R eserve fleet (see also n o te g).
٠ O re a n d b u lk ca rriers o f 6,000 g rt a n d over, ineluding o re/b u lk /o il carriers.

‫س ﺀ ﺀ‬/ » ‫; ﺀ»؛ ه‬
(!) U n ite d S tates G re a t L akes fleet estim ated a t 1,661,397 g rt (2,689,323 dw t), o f w hieh ta n k e rs: 40,914 g rt (69,553 d w t); o re a n d b n lk ca rriers; 574,787,‫ ؛‬g rt
(2,619,770 dw t);
(ii) C an a d ian G re a t L a ^es fleet estim ated a t 1,526,610 g rt (2,057,175 dw t), o f w hieh ta n k e rs; 58,629 g rt (99,669 d w t); o re a n d b u lk ca rriers: ‫ا‬, 2 2 ‫ ا‬28,‫ ة‬g rt

(iii) U n ite d S tates ^‫؛‬e serve fleet esti;na‫؛‬e d a t 2 m illion g rt (2,308,000 dw t), o f w hieh ta n k e rs; 162,700 g rt (251,700 d w t); general carg o vessels; 1,809,300 g rt (2 ‫ أ‬014,2 ‫ ) ﻫﻢ‬dw t.
T h e figures fo r th e U n ite d S tates R eserve fleet apply to vessels o f m o re th a n 1,000 g rt a n d a re th u s n o t d irectly co m p arab le w ith th e figures fl-om w hieh th ey have
heen dedueted (b u t th e statistical discrepancy is very sm all, since few ships o f less th a n 1,000 g rt a re in clu d ed in th e R eserve fleet).
 ANNEX IV

Distribution of world fleet by geographical areas, as at 1 July 1974

(Vessels ٠/ 1 0 0 grt and above / in ^٢‫ ؛‬and dwt) ‫ﺀ‬

O f w hich:

A rea T otal tonnage Tankers B u lk carriers G eneral cargo Container ships O ther ships

1 .* N ‫ ه‬r ‫ ه‬A]١‫ آ‬erica . . . . . . . . 12,854,347 5,706,370 2,419,350 1,843,409 2,032,323

(17,941,085) (9,985,177) (1,459,193)

2. Japan 38,707,659 16,012,2 1,026,067 3,631,694

(62,175,855) 5,885) (20,696,092)

3. Australia and New Zealand ٠ . . 1,331,766 255,408 442,011 338,473 83,123 212,751
(1,751,464) (414,223) (686,005)

4. N orthern and Western Europe ٠ . 102,192,440 46,691,264 27,261,674 17,291,324 8,148,524

(164,268,459) (86,110,542) (46,358,365)

5. Southern E u ro p e 30,768,132 10,981,401 64,587

(49,164,967) (19,606,148) (15,086,234)

6. A n tra l and Eastern Europe

(excluding USSR) . . . . . 5,214,764 2,292,240 755,386
(7,089,712) (2,304,667)

7. U SSR 18,175,918 3,658,025 520,442 6,854,104 8,156 7,095,191

(19,037,489) (5,400,699) (797,236)

8. Clrina, Démocratie People’s Repub-

lie of Korea, Democratic Republic
o f V iet-N am 1,940,065 286,323 194,182 1,357,381 102,179
(2,754,431) (445,069) (315,906)
9.1 Western A s i a 2,038,973 288,015 868,403 4,11^ 129,784
(3,013,787) (455,466)
9.2 Southern and Eastern Asia ٠ . ٠ ٠ 7,865,565 1,302,137 2,074,608 3,896,349 20,6 571,773
(11,670,385) (2,215,946) 3,497,798)

10.1 N orthern A f r i c a . . . . . . . . 729,711 310,077 23,494 268,013 128,127

(988,895) (521,502) (34,314)

10.2 Western Africa . . . . . . . . 536,027 410,385 97,520

(674,204) (9,097) (30,827)

10.3 Eastern A f r ic a 220,791 27,261 173,517 20,013

(307,946) (42,621)

10.4 Southern Afriea . . . . . . . . 535,322 40,573 291,862 175,532

(597,410) 38)‫ م‬10( (61,520)

11.1 C a r i b b e a n ' 649,999 104,045 40,052 393,169 1,019 111,714

(860,925) 160,880)( (62,126)

11.2 A n tra l A m e r i c a . . . . . . . . 632,081 282,016 40,775 207,588 101,702

(827.849) 446,699)( (61,677)

11.3 South America: northern seabord 495,919 296,641 129,921 69,357

(663,559) 449,405)(

11.4 South Ameriea: western seabord . 1,217,795 230,079 166,646 660,612 160,458
(1,569,876) 362,302)( (267,892)

11.5 South America: eastern seabord . 3,997,109 1,501,296 621,599 244,725

(5,783,709) 2,433,956)( (1,087,654)

12. D cean ia 99,055 68,007 10,976

(116.849) 565)( (31,953)

6?
 ANNEX IV (continued)

Distribution of world fleet by geographical areas, as at 1 July 1974

(Vesseis o f 100 grt and above / in grt and dwt) ‫ ؛‬،

O f w hich:

A rea T otal t T ankers B u lk carriers G eneral cargo Container ships O ther ships

Open registry countries ;

Liberia (not included in 10.2) . 55,331,641 33,749,633 17,459,426 3,402,731 208,850 501,001
(103,744,205) (66,070,977) (31,830,506)
Panam a (nnt included in 11.2) . 11,003,227 4,681,757 3,711,791 17,930 738,947
(17,572,996) (8,405,299) (3,059,875)
Cyprus (not included in 5) . . ٠ 601,362 381,612
(4,966,760) (944,671) (578,714)
Singapore (not included in 9.2) ٠ 2,876,3^7 729,685 745,555 1,286,969 7,179
(4,396,079) (1,258,274) (1,230,311)
Somalia (not included in 10.3) . 1,916,273 137,529 364,056 1,409,550 5,138
(2,881,668) (^25,199) (578,328)
Total of open registry countries 74,514,348 39,8 9,966 20,803,451 12,138,994 1,386,980
(133,561,708) (76,9 4,420) (3?,27?,?34)
Other (unallocated) . . . . . . 1,416,833 331,741 386,403 620,606 7,6 70,461
(2,110,699) (587,741) (631,698)

W orld total 306,134,619 129,^29,203 76,641,897 $6,865,077 3,404 27,135,038

(486,931,263) (237,978,680) (131,204,357)

S o u rce: C om piled fro m annex II I ab o v e (see no tes to th a t annex).

٠ D w t figures, w here available, a re show n in paren th eses o n th e seeo n d line.
١١ Ineluding 269,945 g rt (375,388 dw t) w hieh ac cording to th e so urce fiies th e fiag o f H o n g K o n g , p a r t o f w hich to n n a g e is believed to b e c o n tro lle d b y fo reig n interests.
٠ In clu d in g 153,202 g rt (218,870 dw t) registered in th e B ah a m as; th e lo c atio n o f th e effective co n tro l o f this to n n a g e is u n ce rtain .
٠ F o r a n ex p lan atio n o f th e co d e n um bers, see annex I above.
 ANNEX V
Additions to and I ‫؛‬s in the merchant fleets nf developing countries and territories during 1973 '
(Thousand dwt / vessels ‫م‬/ ‫ ﻣﺊ‬،‫ ﻣﺎ‬grt and over)

0 /w h ic h :

A ll ships Tankers Bulk carriers Others ships

Number dwt Number dwt Number dwt Number dwt Number dwt

9.1 ‫ ه‬W estern Asia

/ ٢٠«
A d d itio n s......................................... 797 764
o f which: new deliveries . . . . 33
N et additions - - - - - - - - 797 764
/ ٢٠‫؟‬
A d d itio n s......................................... ‫ا‬, 404 4 ‫ل‬, 404
o f which .■new deiiveries . . . . 404!, 4 1,404
N et additions . . . . . . . . . 404!, 4 ‫ل‬, 404

Israel
A d d itio n s......................................... 537 377 160
o f which: new dehveries . . . . !60 ! 60
N et additions - - - - - - - - - - ‫ل‬04 377 -7 -6 4 ! ! 60
Kuwait
A d d itio n s......................................... 135 !35
o f which: new deliveries . . . . ‫ ل‬35 !35
Net additions - - - - - - - - -
Saudi Arabia
A d d itio n s......................................... 116
— 116
o f which: new deliveries . . . .
N et additions - - - - - - -- ‫آ‬ 5
Sub-total: Western Asia
A d d itio n s......................................... !8 2,989 1.437 377 ‫ل‬0 ‫ا‬, 05! !60
o f which: n e ^ deliveries . . . . ‫ل‬, 732 !,437 35! !60
N et additions . . . . . . . . . 2,109 1.437 377 35! ! 60

9.2 Southern and E astern A sia

‫ ك » ﻫﻢ‬/‫ﺀ ﺀه ﻣ ﺤ ﻪ‬
A d d itio n s 503 !7 7
o f which: new deliveries ٠ . .٠
N et additions - - - - - - - - - 503 17 ‫ب‬7

/» ‫ه؛ﻣﺢ‬
A d d itio n s 23 6,361 ‫ا‬, 572
‫ م‬/ ‫ ه ﺀ'ﺀس‬.■new deliveries . . . . 1,027 2,300
N et additions . . . . . . . . . !! 5,369 ,, ‫ج‬ 2,2‫ص‬
/» ‫ﻫﻤﺢﺀ »ﻫﻤﺢ‬
A d d itio n s 11 ,074 186
‫ م‬/ ‫’ س‬، ‫ﺀ‬/‫ﺀ‬.• new deliveries . . . .
N et additions - - - - - - - - - -134 4" 186
Republic ofK orea
A d d itio n s 2.300 408 254
o f which: new deliveries . . . . 2.300 26
N et additions . . . . . . . . . 2,594 2.300 40
Malaysia
A d d itio n s 2,!23 2,018 !05
‫ م‬/ ‫ • ﻣﻪﺀ'ﺀس‬new deliveries . . . . 2,090 2,018 72
Net additions !,95! 2,0!8 -1 0 9 42
 ANNEX V / ‫ﺀ »ئﺀ » ﻣﻊ‬،‫رﻣﺢﺀ‬
Additious to and net ( $ n the merchant fleets of developing cowtries and territories during!
1973' ‫؛‬
Thousand dwt ,■vessels oflfiOO )‫ءآك‬and ‫اج^م‬-‫ر‬

O fw hich:

A ll ships Tankers Bulk carriers Freighters Other ships

Number dwt Number dwt Number dwt Number dwt Number dwt

Maldives
Additions . . . . . . .
ofw hich ; new deliveries
N et additions . . . . . 2 134 — — — — 2 134 — —

Pakistan
Additions - - - - - - -
ofw hich -• new dehveries
N et additions - - - - -
Philippines
Additions . . . . . . . 9 349 — — — — 8 344 1 5
ofw hich ; new deliveries
N et additions . . . . . 13 - 2,027 -1 -9 6 2 - 2 - 434 - 7 -5 8 9 -3 -4 2

Republic ofV iet-N am

Additions - - - - - - -
o fw h ich : new deliveries
N et additions - - - - - 1 27 1 27 — — — — — —

Sri Lanka
Additions . . . . . . . 5 462 — — — — 5 462 — —
ofw hich ; now deliveries
N et additions - - - - - 5 46^ — — — — 5 462 — —

Thailand
Additions . . . . . . . 6 1,437 2 1,241 — — 4 196 — —
ofw hich: new deliveries
N et additions - - - - - 4 1,185 1 1,075 — — 3 110 — —

Sub-total: Southern and

Eastern Asia
Additions . . . . . . . 5,010 3,590 4,014 3,018
o fw hich: new deiiveries 19 9,275 3,327 2,704 815
N et additions - - - - - 10,624 3,156 1,167 i S

TOTAL A$IA
A dditions - - - - - - - 14 6,447 3,967 61 5,029 14 3,178
ofw hich: new deiiveries 11,007 4,764 ^,704 950
N et a d d itio n - - - - - 12,733 10 5,049 3,533 1,302

10.1 N orthern A f r ic a

Algeria
Additions - - - - - - - 317 219
ofw hich: new deliveries 317 219
N et additions - - - - - 317 219

Libyan Arab Republic

A dditions. . . . . . . 45 — — — — — — 1 45
o fw hich: new deliveries
N et additions - - - - - 45 — — — — — — 1 45

Morocco
Additions . . . . . . .
o fw h ich : new deliveries
N et additions - - - -

7‫ه‬
 ANNEX V (continued)
Additions to and ‫ل‬ ‫؛‬s in the merchant fleets of developing eountries and territories during 1973 ٠
(Thousand dwt / ^٠/ 1,000 :‫ دﻣﺢ؛دﺀﺀ‬grt and over)

O fw h ic h :

A ll ships Tankers B u lk carriers Freighters O thers ships

N um ber dw t N um ber dw t N um ber dw t N um ber dw t N um ber dw t

Egypt
A d d itio n s 2 62
o f which : new deliveries . . . . —
N et additions ٠ . ٠
٠ . . . 2 62

Sub-totai: North Africa

A d d itio n s 11 171
o f which: new deliveries . . . .
Net additions . . . . . . . . .
5
9
317
440
3
6
219
314
2
3 .‫ة‬
10.2 W estern A frica

Gabon
A d d itio n s 1 155
o f which ٠ • new deliveries . . . . —
N et additions . . . ٠٠٠. . . 1 155 — 155
Ivory Coast
A d d itio n s 6 510 — 510 —
o f which: new deliveries . . . . —
N et additions . . . . . . . ٠ ٠ 5 478 — 478 —
Nigeria
A d d itio n s 1
o f which : new deliveries . . . . —
N et additions . . . . . . . . . 1
Zaire
A d d itio n s 1 152 152
o f which: new deliveries . . . . 1 152 152
Net additions . . . . . . . . . 1 152 152
Sub-total: Western Africa
A d d iti o n 9 901 155 594 152
o f which: new deliveries . . . . 1 152 152
N et additions ٠٠. ٠ .. . . . 8 155 152

10.3 E astern A frica

Ethiopia
A d d itio n s —
،‫ا‬/ ‫ هء؛ س‬.• new deliveries . . . . —
N etadditions . . . ٠٠ . . . . -2 -110 —
Madagascar
A d d itio n s —
o f which .• new deliveries . . . . —
N et additions ٠٠ . . . .. . . -2 -1 8 1 — -1 8 1 —
Mauritius
A d dirions . ٠٠ ٠.. . . . . 4 244 1 23
o f which: new deliveries . . . . —
N et additions . . . . . . . . . 4 244 1 23

Sudan
A d d itio n s 1
o f which: new deliveries . . . . 1
N et a d d itio n s —

71
 ANNEX V (continued (
Additions to and) s in the merchant fleets of developing countries and territories during‫؛‬
1973'
Thousand)،!١٧ / ‫؛‬ ‫م‬/ 7 ‫ﻣﻤﻢ‬ grt and

O f w hich:

A ll ships T ankers B u lk carriers Freighters O ther ships

N um ber ،‫؛‬١٧‫؛‬ N um ber N um ber N um ber dw t N um ber dw t

United Repubiic o f Tanzania

A d d itio n s 124 ‫ أ‬24
. ofw hich : new deliveries
N et additions - - - - - - 124 ‫ إ‬24

‫ ه » ك‬-‫ ﺀم ؛‬،‫ ﺀ‬/.•

East Africa
A d d itio n s 493 27 — 443 23
٠/ . which ; new deliveries
- - - - - - N et additions 178 - 2‫ل‬ — ‫ ا‬49 23

TOTA L: A FRICA
A d d itio n s 26 155 18 346
٠/ . which ; new deliveries 544 294 250
- - - - - - N et additions 19 1,532 134 ! ‫ م‬25 346

C aribbean 11.1

Cuba
A d d itio n 108
2————
ofw hich .• new deliveries ٠
- - - - - - N et additions

Trinidad and ^ ‫ ﻫﻢ‬،‫ﻣﻚﺀ‬

A d d itio n s
٠/ . which ; new deliveries
- - - - - - N et a d d itio n

Sub-totai : Caribbean
A d d iti o n
٠/ ١ ١^
٧ . .• new deliveries
■،;^
- - - - - - N et additions

C entral A merica 11.2

Cuatemaia
A d d itio n
٠/ which .• new deliveries ٠
. . . . . . N et a d d itio n

Honduras
A d d iti o n 101 — 101 —
ofw hich ٠ ■. new deliveries
. . . . . . N et additions

Mexico
A d d itio n s 430 154
‫م‬/ ‫هء؛!ا’ ال‬ . .• new deliveries 464 430 34
- - - - - - N et additions 508 430 78

Nicaragua
A d d itio n s
٠/ . which ; new deliveries
N et additions . . . . . .

72
 m m s .\(continued)
Additions to and net ‫ا‬ ‫؛‬s in the merchant fleets of developing countries and territories dtiring 1973 '
(Thousand dwt / vesseis ‫م‬/ ‫ ﻣﻤﻤﺊ‬grt and over)

O fw h ic h ;

A ll ships Tankers B u ik ‫ ه ﺀ‬٢٢)‘‫ﻣﻢ‬٢‫ك‬ Freighters O thers ships

‫•اﺀهﺀ«س‬ dwt N um ber dw t N um ber N um ber ‫ء<ااﻣﺢ‬ N um ber dw t

Sub-totai : Caribbean and

Centrai America
Additions . . . . . . . 10 430 154
o fw h ich : new deliveries 502 430
N et additions . . . . . 575 430 90

11.3 South A merica :

NORTHERN SEABOARD

Venezuela
A d d iti o n 4 330
‫م‬/ ‫ء'ءس‬/‫ء‬.■new deliveries . . . . 1
N et additions . . . . . . . . . 4 330
Sub-total: ^»‫؛‬ ٠ ^ America :
northern ‫اﺳﻣﺢءء‬-‫ﻣﺢ‬
A d d iti o n 4 330
ofw hich: new deliveries . . . . 1
N et a d d i t i o n 4 330

11.4 South A merica :

WESTERN SEABOARD

Chile
Ad d i t i o n - - - - - - -
ofw hich ; new deliveries
N et ad d itio n . . . . . -2 3 3 -2 3 3 —
Colombia
Additions . . . . . . . 370
ofw hich .• new deiiveries
N et additions . . . . . 130 134 —
‫ﻣﺣسءء‬،‫ءا‬
•
Addi t i ons - - - - - - - 943
o fw h ich : new deiiveries
N et additions . . . . .
Peru
Additions . . . . . . . 260 130 130
ofw h ich : new deliveries 130 130
N et a d d itio n . . . . . 205 130
Sub-total: South America:
western seaboard
A d d itio n - - - - - - - ;,573 4 1,2 130
ofw hich .■new deliveries 425 130
N et additions . . . . . ,045 844 130

11.5 SOUT^ A merica :

EASTERN SEABOARD

Argentina
Additions . . . . . . . 976 67 11 909
ofw hich ; new deliveries ? 616 616
Net additions . . . . . 381 -2 6 5 67 7 675 -1

73
 ) A N N E X y (concluded
Allaitions to and ‫ا‬ in the merchant fleets of fleveioping countries anfl territories flm^ng « 1973
■
) ‫ اآ‬،‫ ﻣﺤﺴﺴﻢ‬dwt / vessels ‫م‬/ ‫ ﻣﻤﻤﺊ‬grt ‫رمﺀ^ ﻣﻤﺢ»ه‬

O fw hich:

A ll ships Tankers Bulk carriers Freighters Other ships

Number dwt Number dwt Number dwt Number dwt Number dwt

Brazil
A d d itio n s 5,305 3,407 16 1,516 136
. . . ofw h ich : new deliveries 19 5,087 11 120
N et additions - - - - - - - - 18 4,8 3‫ﻫﺚ‬07 111 1,204 136

‫ك‬،،‫ ه‬-‫ ; سﺀمﺀ‬South America:

‫ءء؛ﻣمء‬ •»
seaboard
A d d itio n s 40 6,281 ‫ا‬, 407 313 136
‫م‬/‫ ءءآس‬. ; . . new deliveries 26 5,703 ‫ا‬, 3 3? 246 ‫ة‬ ,964 120
- - - - - - - - N et additions 24 ‫ا‬, 142 178 16 ,879 40

TOTA L: L A T iN AM ERICA
A N D CARIBBEAN
A d d itio n s 63 9,346 5,370 313 39 420
‫م‬/‫ه' ءس‬/ ‫ء‬ .;. . new deliveries 33 10 4,393 20 ‫؛‬:‫س‬ 250
- - - - - - - - N et additions 7,484 4,711 178 335‫؛‬,

O c e a n ia .12

N، ‫ ؛‬٢»»
A d d itio n s 331 312 19
ofw h ich : new deliveries ٠. 312 . 312
- - - - - - - - N et a d d itio n 331 312 19

Tonga
A d d itio n s 64 — 49
‫م‬/‫ اطءس‬. !.•. . new deliveries
N et additions - - - - - - - - 49

^ ‫»• ءء؛ءء‬ Samoa

A d d itio n s 19 19
. . . ofw hich .• new deliveries
. . . . . . . . N et additions 19 19

Sub-total: Oceania
A d d itio n s 414 312 34
‫م‬/‫ هء؛ س‬. .•. . new deliveries 312 312
. . . . . . . . N et additions 414 312 34

Total: developing eomitries

and territories

A d d itio n s 1‫ﺛﺚ‬ 30,274 30 11,844 4,747 12© 9,?©5 29 3,978

. . . ofw hich : new deliveries 18 9,157 3,262 32 3,28© 12 3,©89
N et a d d itio n s 91 22,163 23 9,787 4,157 44 4,73© 17 3,489

٠‫ ﺀﺀﺳﻢك‬.• C om piled fi-om d a ta te ^ a rd io ^ a d d itio n s a n d deductio ns to m e rch an t fieets w hich w ere m a d e availah le to th e U N C T A D seeretaria t b v th e U ffited S tates
D e p a rtm e n t o f C om m erce. M aritim e A d m in istratio n .
‫ ﺀ‬F igures fo r th e acq u isitio n o f seco n d -h an d ships fo r eaeh co u n try m a y h e o b ta in ed h y ded u ctin g “new deliyeries” fro m “ a d d itio n s” .
٠ F o r a n ex p ian atio n o f th e eo d e num bers, see annex I above.

74
 ANNEX VI
Amendment to the
OECD Understanding on Export Credits for Ships •

On 18 July 1974 the Council o ^the Organisation for Economic Co-operation and Development
adopted a resolution which, inter ٠/،'«, noted that the Governments which participate in the Under-
standing on Export Credits for Ships ‫ ﺀ‬have agreed that clauses 1 and 2 o f the Understanding are
amended to read:
“ 1. F o r any contract relating to any new ship to he negotiated from 1st July, 1974 onwards,
governments participating in this Understanding agree to aholish existing official facihties *
and to introduce no new officia! fficiiities for export credits for ships on terms providing:
(i) A maximum duration exceeding 7 years from delivery and repayment other than hy equal
instalments at regular intervals of normaily six months and a maximum of twelve m onths;
(ii) Payment by delivery of less than 30 per cent of contract price;
(iii) A n interest rate of less than 8 per cent, net o f all charges. ٠*
“2. This minimum interest rate of 8 per cent will apply to the credit granted with official
support by the shipbuilder to the buyer (in a suppiier credit transaction) or by a bank or any
other party in the shipbuiider’s country to the buyer or any other party in the buyer’s country
(in a buyer credit transaction), whether the offieial support is given for the whoie am ount
of tire credit or only part o f it.

“ * Official facilities are those which enable credits to be insured, guaranteed or flnanced
by governments, by governmental institutions, o r with any form of direct or indirect govern-
mental participation.
“ ** By interest rate, net of ail charges, is m eant that part of the credit costs (excluding
any credit insurance premia and/or any banking charges) whieh is paid at regular intervals
throughout the credit period and whieh is directiy related to the am ount of credit. ”

‫ ﺀ‬E or the original text of the Understanding see. The ‫( •ﺀﺀ^ﺳﻢﺀﺀﻫﻢ ه ﺀﺀ م‬Paris), N o. 41 (August
1969), p. 12.
١٠ Australia, Belgium, Ganada, Denm ark, Eederai Republic o f Germany, Finland, France,
Raiy, Japan, Netherlands, Norway, Spain, Sweden, United Kingdom of Great Britain and N orthern
Ireland.

75
 ANNEX v n
Selected maximum and mlnlmmn ‫ ﺀ‬tramp freight rates, 1970-1974

Currency unit
(Sterling and 1970 1971 1972 1973 1974
U nited S ta tes - -
C om m oditiesfroutes dollars and cents) H igh Low H ig h Low H igh Low H ign Low H igh Low

Heavy grain ;
United States Gulf-West
Coast I n d i a . . . . . Dollars 8.7 1.61 Vi 12.8
N orth ?acihc-£ast Coast
India . . . . . . . Sterling 7.12% 5.2 4.54 .2 ? % ‫ﻃ ﺄ أ ال‬ | ‫ﻣﻖ ' ةل‬ 317.5
0 .5 «‫ه‬ 4550.0
.5 ‫ﺀ‬،

^ iv er Plate-Antwerp/
H aniburg range . ٠ . D ohars 15.75 8.15 9.25 5.0 11.65 5.3 29.6 12.75 32.0 26.5
River Plate-Japan . . . Dollars 22.0 13.25 13.0 7.0 9.5 6.9 30.25 17.75 34.0
N orth Paeiflc-Republic
of K orea . . . . . . Dollars .٠ .. .. .. 11.75 6.05 30.5 14.0 30.0 20.0

Coal:
H am pton Roads-Rio
d e la n e iro . . . . . Dollars 12.25 5.0 4.2 2.7 2.9 2.4

Sugar :
M auritius-United King-
d o m . . . . . . . . Sterling 6.25 4.15 4.15 3.47% 7.25 4.0 11.15
Phihppines-USA . . ٠ Dollars 13.5 7.85 11.0 9.25 12.0 7.75 17.0 30.0 29.0

Ore:
M orm ugâo-Japan . . . Dollars 10.3 9.9 6.15 4.1 4.45 3.6

Copra :
Philippines-Continent . Cents 44.0 37.0 3652 ‫ﺗﺎ؛‬ 28.0
243
6‫؛‬/‫ﺀ‬

Phosphate .•
Casablanca-China ٠ . . Sterling 7.4 4.47 8.8 3.0 3.72 3.25 3.9 ‫؛‬/‫ﺀ‬
Aqaba-W est Coast India Steriing 2.67% 2.55 2.62% 2.15 2.92 1.9 6.99 20.75 ٠ 1 6 .0 ،

C hina-S ri£an^a . ٠ ٠ Sterling 5.9 4.25 4.47% 3.72% 6.85 6.75 8.09

Fertilizers:
Continent-China (South
Coast) . . . . . . . Sterling 9.35 6.12% 6.1 3.25 ٠. .. 8.55

Source ; B ased o n in fo rm a tio n in L lo y d ’s L is t (4 , ‫ ا‬0 ‫ ﻫﻪ‬0 ‫ ص‬J a n u a ry 1972, 2 ‫ و‬J a n u a ry 1973, 4 F eb ru ary 974‫ ؛‬a n d 6 Ja n u a ry 1975.
“ A p p ro x im a te leyels.
، I n U n ite d S tates dollars as given th e source.

76
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‫ى‬
‫و‬
‫‪I‬‬
‫‪4،‬‬
‫ة•‬
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‫‪ÜM‬‬
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‫ﺻﺚﺀ‪ .‬ﻟﺔ ة ﺀﻗﺪ أم ﺀ‬ ‫§ ‪ ،‬ةﺀ‬
‫آ ا‬

‫§‪ ،‬ة‬ ‫اةإ‬ ‫‪■ й‬‬

‫مﺀ‬ ‫م‬ ‫‪٩‬‬

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‫و‪.‬‬ ‫ص‬ ‫‪٢٢‬‬

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‫‪I‬‬ ‫‪Й‬‬
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‫و‬ ‫ه‬
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‫‪٥٠‬‬
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‫‪^٥1‬‬ ‫^‪1‬‬
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‫>‬ ‫إ‬
‫‪о‬‬
‫‪Ü‬‬
‫ؤ‪ 1‬أ‬
‫ص‬ ‫©‬
‫ل ا‬ ‫ص‬
‫ﺀد‬ ‫ئﺀ‬ ‫ص" ‪л‬‬ ‫ة‬
‫ﺀ‬
‫‪II .‬‬
‫‪II‬‬ ‫؟ ا! ة‬
‫‪о II‬‬
‫وﺀ‬
‫ة‬ ‫‪| :‬‬ ‫‪il‬ا‬
‫إ؛‬
‫و‬
‫‪ 1‬تﺀ ‪1 1‬‬ ‫ة‬
‫ﻟﻪ‬
‫ص‬ ‫‪о d‬‬
‫‪S‬‬ ‫‪Щ‬ص‬
‫ﺀ‬
‫ه‪0‬‬

‫إ ! أ■‪P‬‬ ‫أ‬

‫‪0 ٣٣‬‬
‫ص؛‬

‫‪٦٦‬‬
 ‫ج‬
‫ه‬
‫ﺀة‬
‫؛ ؛ ﺀ■‬

‫‪s i l‬‬
‫§‬ ‫ةة‪1‬‬

‫‪о‬‬ ‫ج‬ ‫ة‬ ‫ق‬ ‫ق‬

‫ة‬
‫‪ 5‬ﻣﺢ‬
‫» ﺀ‬
‫ق؛‬ ‫» ج‬
‫ة ‪g‬‬

‫‪я‬‬ ‫‪g‬‬
‫‪1-3‬‬ ‫ﺀ م‬ ‫ه‬ ‫‪H‬‬

‫‪i‬‬
‫ص‬ ‫‪I‬‬ ‫ج‬
‫‪II‬‬ ‫وق‬

‫‪II I‬‬
‫‪ЙЙ‬‬
‫ة|‬
‫‪ЯЯ‬‬ ‫ه‬ ‫ﻳﻪ‬ ‫ق‬ ‫»‬ ‫ة‬ ‫‪и‬‬ ‫‪٣‬‬ ‫‪mi‬‬ ‫‪II‬‬

‫‪ 1‬و‬

‫ﻟ ﺆ‪ -‬ة‬
‫و‬
‫‪I‬‬
‫ﺀ‬
‫‪٠‬‬

‫‪٠٢٢‬‬
‫أى ﺀ‬
‫‪٠٢٢ ٢٢‬‬
‫‪II I‬‬

‫ة‬ ‫‪1‬‬ ‫ئ‬

‫ﺀ‬
‫«‬ ‫‪I‬‬ ‫‪"м‬‬
‫ج‬ ‫‪I‬‬ ‫‪'S‬‬
‫ﺀ‬
‫ص‬
‫هﺀ‬
‫‪I‬‬ ‫‪îîi‬‬ ‫ه‬ ‫ه‬

‫‪٠٠‬‬
‫ﺀ‬
‫‪S‬‬
‫؛‪3‬‬
‫|‪1‬‬
‫لا بم_‬ ‫‪g‬‬ ‫ﺀ‬
‫وئ‬ ‫ص‬ ‫‪ci‬‬
‫ﺀ‬

‫‪I‬‬ ‫ه‬
‫ق‬

‫إ؛‬
‫«‬
‫وج‬

‫‪!١‬‬
‫هﺀ‬
‫‪0‬‬
‫‪W‬‬
‫ق‬ ‫ﺗﻪ‬
‫‪со‬‬ ‫‪ill‬‬ ‫ﺟﻖ‬ ‫‪1‬ا‬

‫إﺀ‬ ‫و‪،‬‬ ‫و‬ ‫رم‬

 ‫‪On‬‬

‫‪٢٢‬‬
‫»‬
‫‪в‬‬

‫‪I‬‬
‫ه‬
‫№‬ ‫ه‬ ‫ه‬
‫‪б‬‬ ‫ا ال ‪6‬‬

‫‪H‬‬

‫‪I‬‬ ‫؟‬ ‫‪О‬‬ ‫ﺹ‬ ‫‪т~н‬‬

‫‪О‬‬
‫ج‬ ‫ﺀ‬ ‫‪о‬‬
‫ﻣﺤﺎي‬ ‫ص‬

‫ﺀ‬
‫‪I‬‬
‫ﺀ ق‬
‫‪Is‬‬
‫‪.1‬‬
‫أ‬
‫‪I‬‬ ‫‪Im‬‬ ‫‪I I‬‬
‫‪Л‬‬
‫ة‬ ‫‪-о‬‬
‫ق‬ ‫‪я и‬‬ ‫وﺀ ‪ VC‬وﺀ‬ ‫ق ق‬
‫ج‬

‫| ﺀة‪.‬‬

‫!م‬
‫‪III‬‬
‫‪١٠٠• ٠‬‬ ‫©‬
‫‪I‬‬ ‫‪<٦‬‬
‫ي‬

‫‪I‬‬ ‫‪I‬‬ ‫لآ‬ ‫ق‬

‫§‬ ‫‪I‬‬ ‫‪ci‬‬

‫ق‬
‫‪|1‬‬
‫‪٠‬‬
‫‪и‬‬ ‫إ !‬
‫‪!١١١١‬‬‫ﻗﺄ‬ ‫ا‬
‫‪I‬‬
‫‪il‬‬
‫|!‬
‫!‪Ш‬‬ ‫|ا | ‪3‬‬
‫ة‬

‫‪«S‬‬
‫ةا‬
‫‪ië‬‬
‫‪18,‬‬
‫ه‬
‫‪!!II‬ة‬
‫ووو‬
‫أ ؛ ا!ل‬
‫‪٣١‬‬

‫‪79‬‬
 ‫ة ؛‬
‫|ق‬
‫)‪S‬‬
‫‪ ٣١‬ص‬
‫ص‬
‫ظ ؟‬

‫م‬
‫ج‬
‫ه ‪ь‬‬ ‫ظ‬
‫‪oi‬‬ ‫‪иб‬‬ ‫‪о‬‬

‫‪٢ ٢ rq‬‬
‫ظ‬ ‫ص‬
‫ج‬ ‫ج‬
‫ه‬ ‫‪40‬‬
‫‪о‬‬ ‫©‬ ‫ج‬ ‫‪٠٢٢‬‬ ‫‪О‬‬ ‫ق‬
‫‪٠‬‬
‫‪ON‬‬
‫‪،§ ،2‬‬
‫‪я‬‬ ‫§‪،‬‬ ‫ة ﺀ §‪،‬‬ ‫|‬ ‫ق‬ ‫‪1‬‬ ‫ق‬ ‫‪I‬‬
‫ةم ‪Йя‬‬ ‫§‬ ‫‪I‬‬ ‫‪II‬‬
‫أ‬
‫‪ЙЙ‬‬ ‫دو‬

‫‪ ٠‬و§‬ ‫د‬ ‫وه‬

‫وﺀ ﻣﺤﺎ ‪я‬‬ ‫‪W я‬‬ ‫‪Я & Я‬‬ ‫ض‬ ‫دﺀ‬ ‫‪1‬‬ ‫ﺀ ق‬ ‫‪d я‬‬ ‫ق ق‬ ‫ق‬

‫ا إل‬

‫§‪.‬‬ ‫ج‬
‫‪٠٢٢‬‬

‫ص‬
‫‪I‬‬
‫ص‬
‫ة‬

‫ئ‬
‫‪|1‬‬
‫ﻟﻮ‬
‫‪Т‬‬
‫‪Т5З‬‬
‫ج‬ ‫•‬
‫م‬

‫ج‬
‫ﺀ‬
‫ئ‬
‫ظ‬
‫■‪1‬‬
‫ةا‬ ‫اإ |‬
‫!‬
‫ق !'‬
‫ه‬
 ‫ح‬
‫ه‬

‫‪b‬‬
‫ة‬

‫‪q‬؛‬
‫ة‬ ‫ج‬
‫ﺀ ه‬
‫‪О‬‬ ‫‪в в‬‬ ‫‪о‬‬
‫ق‪0‬‬

‫‪ Р‬ق‬ ‫‪Р Р‬‬

‫ه! ﺀ‬ ‫ﺀ ض‬ ‫|ﻕ‬
‫‪ill‬‬ ‫‪mm‬‬ ‫ﺀﺀ‬ ‫‪ 1‬ة‬
‫|| •ال|| ‪I I‬‬
‫‪И pq‬‬ ‫ظ‬
‫‪ * :‬ة؛‬
‫||| ة | ة | ة | ة | ظ‬ ‫إ‬ ‫«‬

‫ﺀ‬ ‫م‬
‫|م‬

‫| إ |‬

‫ﺀ‬ ‫و‬ ‫و‬ ‫و‬ ‫ج‬ ‫‪d‬ة‬

‫‪ ٠٦ ٠٦ ١٦ ٠٦‬ﺑ ﻢ ﺀ‬ ‫‪ I‬ق‬ ‫‪١٩١٩‬‬
‫‪S‬‬

‫‪0‬ة ‪«٠‬‬
 ‫أآل‬

‫ﺀ‪ 4‬وﺀ‬
‫‪ri‬‬
‫ة‪-‬ﺑﻢ‬
‫ﻳﻢ ج ه ت‬

‫ه ﺀ ه ﺀ‬

‫‪о‬‬
‫ﺷﻪ‬ ‫‪٠٠‬‬
‫|ة‬ ‫ه‬ ‫ي‬ ‫ؤ‬
‫©‬ ‫‪٠‬‬
‫ة‬ ‫ص‬ ‫‪о‬‬ ‫ﺗﺈ‬
‫‪g‬‬ ‫‪й‬‬ ‫وج‬
‫‪Vi‬‬ ‫‪ÇO‬‬
‫‪о‬‬
‫>■*‬
‫وة‬
‫ؤ‬

‫‪I‬‬ ‫‪II‬‬ ‫‪Р о‬‬

‫!‬ ‫ث ﺀ م‬
‫;| ‪1‬‬ ‫ةق|ة‬ ‫‪11‬‬ ‫‪ê‬‬ ‫ق هﺀ‬

‫ة‬ ‫ج|‬ ‫‪ II‬ة | ؤ ‪I1‬‬ ‫ﻩ |‬ ‫|ة‬

‫‪йй‬‬
‫‪I‬‬
‫ﺟﺊ و‬
‫ص وﺀ‬ ‫‪я‬ﺽ ‪я‬‬ ‫ص‬ ‫وك‬ ‫وق‬ ‫ق ‪6‬‬ ‫‪I‬‬ ‫ه ة‬ ‫ض؛‬ ‫ﺀ ‪й‬‬ ‫‪й‬‬ ‫«‬ ‫‪n‬‬

‫‪I‬‬

‫ﺝ‬ ‫ﺝ‬
‫ﺀ‬ ‫أى‬

‫‪g‬‬
‫‪çs‬‬
‫‪è‬‬
‫‪٠‬‬
‫‪СО‬‬ ‫ﺝ‬ ‫إ‬
‫م‬
‫‪٠‬م‬ ‫د‬ ‫ة‬
‫‪I‬‬
‫و‬

‫‪%‬‬
‫©‬
‫‪! s.‬‬ ‫م‬
‫||‬

‫إ |‬
‫‪и‬‬
‫ص‬ ‫□‬ ‫‪I‬‬ ‫ه‬
‫ص‬ ‫ؤق ص‬ ‫‪S‬‬
‫و‬ ‫ص‬ ‫‪я‬‬ ‫‪Î,‬‬
‫أ‬
‫‪٠٠‬‬ ‫‪٤٤‬‬
‫‪1‬‬
‫‪а‬ﺃ‬
‫ة ق ق ؤ; ث‬
‫ق‬ ‫ة•‬ ‫ه‬
‫‪йй‬‬
‫<‬ ‫‪С‬‬ ‫‪I I I‬‬
‫و‬
‫ة‪-‬ﺑمء‬

‫‪я‬‬ ‫ه‬
‫‪6‬‬
‫‪٥ S‬‬ ‫ووج‬
‫س‬
‫‪H‬‬ ‫‪٠‬‬ ‫‪“ 00‬‬
‫ه‬ ‫ﺀ‬ ‫و‬
‫‪(Ц‬‬ ‫ﻣﺤﺄ ‪2‬‬
‫‪О‬‬ ‫رو ﺀ‬
‫‪о‬‬
‫ق‬
‫||آ‬
‫|‬ ‫ق‬ ‫وج‬ ‫ي‬

‫‪il‬‬ ‫‪I‬‬ ‫ه'‬

‫د‬ ‫‪11‬ق‬ ‫م ة ||‬
‫ق ﺀ‪11‬‬
‫ﻗﺎ‬
‫‪I,‬‬ ‫و | ت ‪1‬‬
‫» ‪И Й‬‬ ‫ى‬ ‫اة‬ ‫!إ ﺀأ‬ ‫‪'Я‬‬
‫ت‪ .‬ﺗﺘﻖ‬
‫ﺏ ‪٢١‬؛ ‪٠‬‬
‫ة ﻧﻢ ة‬
‫ق‬
‫وﺀ‬

‫ة‬
‫‪I‬‬

‫ى•‬

‫‪II‬‬
‫‪ГЯ n‬‬
‫‪I‬‬ ‫‪I‬‬ ‫ج‬
‫ﺀ‬ ‫ﺑﻢﺀ‬ ‫؛‬ ‫ق‬ ‫ة‬ ‫‪I‬‬

‫‪S‬‬ ‫و‬ ‫ئ‬

‫‪I‬‬
‫‪I‬‬ ‫‪I‬‬
‫ة‬
‫‪٠٠‬‬ ‫ﺀ•‬

‫‪I‬‬ ‫و‬
‫©‬
‫ت‬ ‫‪ÇO‬‬
‫ق‬
‫ة‬
‫‪40‬‬ ‫ﺡ‬ ‫‪0‬ﻡ‬ ‫ﺡ‬ ‫ﻭ‬
‫‪N‬‬
 ‫‪٢٢‬‬
‫ا‬ ‫ﻳﻢ‬
‫ﻗﺎ ة‬ ‫©‬
‫‪fS‬؟*‬ ‫ﻭﻡ ﻣ ﻢ‬

‫ﺓ‪-‬مب‬
‫ب ي ي‬
‫ق‬
‫‪Ü ü l‬‬
‫‪Im‬‬
‫وق‬ ‫‪<٠٠‬‬
‫ﺀ‬
‫ﺹ '•‬ ‫أواق‬

‫ةأا‪3‬‬
‫!إ‪1‬‬
‫ض؛ك‬ ‫‪H‬ق‬ ‫;‪00‬‬
‫؟ ‪ Л‬وﺀ‬
‫‪٢٢ о‬‬ ‫‪'I‬‬ ‫‪d‬‬
‫ﺝ؛‬

‫‪I l s‬‬ ‫ه|‬ ‫ق ﺀ‬ ‫إ؛|إ‬

‫‪ 1‬ق‬
‫ﺟﺎ |م‬ ‫‪I‬‬ ‫‪I‬‬
‫ﻡﺀﻭﻩ‬ ‫ة‬
‫‪II‬‬ ‫«‬
‫‪I‬‬
‫ﺀ‬
‫‪ ٠O٠d٠‬ؤ | ‪M s‬‬
‫ة‪11‬ق م‪1‬‬ ‫ﺋﺔ ‪1‬‬ ‫'‬
‫‪m‬‬ ‫ﻱ؛»‬

‫ﺀ م‪b‬‬
‫ﻡ م اد‬
‫؟؛•؛‬
‫ﻗﻘﻮ ق ﺀ‬
‫ﻳﻪ‬
‫‪s‬‬

‫ﻭﺓﺹ‬
‫‪٨ ٠‬‬

‫ﻕ|‬

‫ﺹ‬
‫‪ III I‬ق‬ ‫ﺀﺀ‬
‫ﻡ‬
‫ة‬ ‫‪I‬‬ ‫‪I‬‬ ‫‪I I‬‬ ‫ة‬
‫‪Й‬‬
‫دإ‬
‫‪b‬‬ ‫ؤ‬
‫قؤ‬ ‫ﻩﺀ‬ ‫و‬
‫ة‬
‫ة‬ ‫ﻕ‬
‫ﺹ‬ ‫‪٠٠‬‬
‫‪٠‬‬

‫أ‬
‫ث ‪II‬‬
‫‪d‬‬
‫‪Ü‬‬ ‫ح‬ ‫‪•S‬‬
‫مﺀ ﺀ‬
‫ه‬ ‫د‬ ‫‪٠٠‬‬
‫‪٠‬‬
‫ئ‬ ‫‪g‬‬
‫‪о‬‬
‫‪I‬‬
‫‪I‬‬ ‫ﺀ‬ ‫و‪.‬‬
‫‪I‬‬ ‫ﻭﺅ‬ ‫‪и‬‬
‫ؤ‬
‫‪ I‬ق !ﺗﺎ‬ ‫ة‬ ‫وة‬ ‫ح‬ ‫;> ﺀ‬ ‫‪S‬‬
‫ﻩ‬
‫ق‬ ‫صﺀ ؤ‬ ‫‪О‬‬
‫‪> ٠٠‬‬
‫‪٠٠‬‬ ‫د‬
‫«‪0‬‬
‫ﻫﺬ‬
‫ج‬ ‫؛‪1‬‬‫ل|‬
‫‪Й‬‬
‫ة‬
‫‪ Щ‬ق‬
‫‪٥ ٥‬‬ ‫ق‬ ‫|| ﻗﺔ|‬
‫‪IÜ‬‬
‫‪١١١II‬‬ ‫د‬ ‫هﺀ‬
‫‪SÜ‬‬
‫وإ ى‬
‫‪b‬‬
‫| !ث‬‫ة‬
‫ﺀة‬
‫‪I‬‬
‫‪III‬‬
‫ق’ ق‬
‫ؤ|‪1‬‬ ‫‪I‬‬
‫‪00‬‬
‫‪٢٢‬‬
‫وق‬
‫و|‬

‫ﺀ‪-‬ﺑ ﻢ‬

‫ه‬
‫‪ o' P‬ه‬ ‫‪ON‬‬

‫‪ii‬‬ ‫و‬ ‫(‪٠‬‬

‫؛؛‬
‫ؤ‬ ‫‪On‬‬

‫ق‬ ‫‪II‬‬ ‫‪Iя‬‬ ‫ع‬ ‫ع خ§‬

‫‪Я ^1‬‬
‫ي‬ ‫ﻟﻪ‬

‫‪я‬‬ ‫‪I‬‬ ‫‪I‬‬ ‫‪и‬‬ ‫ﺀ‬ ‫‪Я‬‬ ‫ة ة‬ ‫‪Й‬‬

‫؛؛‬
‫‪I I‬‬
‫ق‬
‫ه‬
‫ةة‬
‫أ؛إإ‬ ‫وو‬
‫ق‬

‫| ﻣﺢ‬
‫دو‬
‫ﺀ‬
‫‪•٠‬‬
‫|ق‬
‫وج‬
‫إل‬ ‫§‬
‫ق و‬

‫‪I‬‬

‫ة‬ ‫؛‪ Я‬د و‬

‫أ‬ ‫ق|||‬
‫ؤ!‬ ‫‪|1‬‬

‫‪о ٣١‬ﺑ ﻢ ﺀ‬
‫ب‬ ‫‪0‬أ ‪ 0‬آ ﻣ ﺄ م ؟ ة ت ﺀ‬
 ‫ؤ‬

‫‪٠‬‬
‫■‬

‫‪il‬‬

‫‪Ч‬‬ ‫ة‬
‫‪я‬‬

‫‪II‬‬ ‫ﺳﺎ‬ ‫‪5‬‬

‫ﻣ ﺢ<ﺀ؛‬
‫ق‬
‫!ق‬ ‫‪mu‬‬ ‫ت ‪6‬‬ ‫ة‬

‫ﺝ‬
‫ج‬ ‫و‬
‫ق‬
‫ة‬ ‫ق‬ ‫‪ о P‬ط‬

‫ع ‪ 7‬؛أ ص ‪٢٦‬‬

‫ص‬ ‫ة‪،‬ق‬ ‫ق‬ ‫‪II‬‬

‫‪I‬‬
‫‪я‬‬
‫‪Ji‬‬ ‫‪я‬‬
‫‪Й‬‬
‫ﺏ‬
‫ة‬ ‫‪Я Я‬‬
‫؛‪5‬‬
‫‪Й‬‬
‫‪I‬‬
‫ة‬ ‫ة‬ ‫ة ؤ' ة‬ ‫‪я‬‬
‫‪II‬‬
‫اﺀ هﺀ‬

‫أﺛ ﻖ §‬
‫و وأ‬
‫‪II‬‬
‫‪I‬‬ ‫! قق‬ ‫ق‬ ‫‪I‬‬ ‫ﺀ‬ ‫ه ﺀ‬

‫ة‬
‫‪٠٠‬‬
‫ﺝ‬ ‫‪٠ ٠‬ﻡ‬
‫ص‬

‫ﺀ‬
‫ة‬
‫‪٠‬‬
‫ةا‬ ‫ﺀ ى‬
‫‪I‬‬
‫ه‬
‫‪11‬‬ ‫‪il‬‬
‫ﻩ‬ ‫§■‬
‫ؤ‬
‫ة‬ ‫<‬

‫ﺑﻢﺀ‬ ‫ﺑﻤﻢ‬
 ‫‪S o‬‬

‫ة‪-‬ﺑم‬ ‫§‪I ،‬‬

‫‪II‬‬ ‫‪I‬‬ ‫‪I‬‬
‫‪ЯРЧ‬‬ ‫«‬ ‫ه‬

‫ص‬
‫؛‪a‬‬
‫‪٠‬‬
‫‪l l i‬‬
‫ج‬
‫م‬ ‫ي‬ ‫ﻗﺆ ؛ة‬
‫©‬
‫‪I‬‬ ‫إ©‬
‫آلﺀ‬ ‫ة‬
‫ﺀ ؤ‬
‫ه‬ ‫ج‬
‫ة ﺀ‬‫ق‪й‬‬ ‫‪ j‬؛‪t‬‬
‫‪6‬‬ ‫أه‬ ‫‪s^S'B‬‬
‫م‬ ‫‪и‬‬
‫وﺀ‬ ‫«‬
‫ﻭﺀ‪٠ ٧‬‬
‫ﻭﻱ‬ ‫ام‬ ‫‪fflêâ‬‬ ‫‪« S u‬‬ ‫| أة| ة|| ﺀ‬
‫ج‬

‫!‬

‫ة'‬
‫ؤة ‪2‬‬

‫م‬

‫ة‬ ‫‪I‬‬ ‫ق‬ ‫‪II‬‬

‫د‬

‫ق‬

‫‪a‬‬
‫<‬
‫ﺀ‬
‫‪Й‬‬
‫‪Pi‬‬

‫ه‬

‫‪٠٠ Щ‬‬

‫‪pp‬‬ ‫<‬
‫||؛‬ ‫؛‬ ‫‪٧‬‬

‫ؤ‬
‫‪٠١‬‬ ‫‪٠١٠‬‬ ‫‪٠١‬‬ ‫‪٠١‬‬
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‫ﺟ ﺔق ‪1‬‬ ‫‪êà‬‬
‫‪.‬اق‬ ‫؟؛ ‪и‬‬

‫إي‬
‫؛‬ ‫ج ق‬
‫ؤ‪1‬؛ ت‬ ‫|| ة ‪1‬‬ ‫ف‬
‫‪я‬‬ ‫وو‬
‫‪о‬ق‬ ‫ﺗﻖ‬ ‫ص‬

‫إإ ||‬ ‫‪я‬‬

‫‪ я.‬ﺀ ي‬ ‫ﺀص‬

‫‪1|:‬‬
‫‪V':‬‬
‫‪Т:5‬‬
‫‪ей‬‬ ‫و؛ ة |‬

‫؛؛ أأ؛اإ‬
‫‪٠ ٠‬ؤ‬
‫‪1‬ﺀ ق |‬
‫‪ ٠‬ج ة ؛ ة ة 'ع‬
‫‪i û ،s‬‬
‫ى<‬ ‫‪٠‬‬ ‫‪о II‬‬ ‫دؤ‬
‫‪Рч‬‬ ‫‪1‬‬
‫ﻣﺢ‬ ‫ﺍﻕ‬

‫ى‬ ‫‪1‬‬ ‫س ‪я‬‬

‫ﻭ |'ة‬ ‫‪я‬‬
‫ه■ م‬
‫‪6‬ق‬
‫‪б‬‬
‫ﻧﺠﺢ ‪٠‬‬
‫أق‬
‫‪Sop‬‬

‫§■ ‪g‬‬

‫||‬
‫‪ ٠٠‬و‬
‫ؤؤ‬
‫وص‬
‫‪I‬‬ ‫ة !‬ ‫مية‬ ‫‪١‬؛‬ ‫صة‬ ‫‪Cü‬‬
‫ة‬

‫ج‬
‫ة‬
‫ﺀ‬
‫ج‬ ‫‪I‬‬
‫ج‬ ‫ة‬
‫■‪3‬‬
‫‪я‬‬ ‫ق‬
‫ه‬ ‫و‬
‫‪I‬‬
‫‪T3‬‬
‫‪٠٠‬‬
‫ؤ‬
‫ث‬
‫‪Й‬‬
‫ه‬
‫‪1‬‬ ‫!‬
‫ق‬
‫أا‬
‫‪I I‬ج‬
‫‪Ы‬‬
‫‪.‬‬ ‫‪1‬‬ ‫قؤ‬
‫وﺀ‬
‫ؤ‬
‫‪1‬ج|ق‬
‫‪Q‬‬
 ‫ة‬

о
о
٠
о
‫ص‬
p

ü I ‫وة‬ Ой

‫ ﻣﻢ‬л

!‫إ؛إﻗﺮ‬
٣١ ‫ئ‬
тз
: ‫ق‬1

‫ﻗﺎ م‬
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1 ٠٠

‫ﺀ‬
‫وﺀ‬ O S 6 ‫ ا‬6 ‫ا‬ fflU

1 ‫ﺀ‬

‫ق‬ ‫؛؟‬

‫إ|إ‬

I٢٠٢٠ ‫ه‬ IIII ‫و‬

‫ة‬ ‫ة‬ ‫ة‬
‫ص‬

I ‫ﺀ‬
‫ة‬ 8

‫ق‬ II ‫'ة‬
d
٢٠
‫و‬
T5
I ١٠ ٠ ٠ ÎÏI ٢٠
и

‫ﺗﻪ‬
‫|ق‬ I III 's i i
g o • ‫' ؟‬
‫ة‬ I III
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،‫ل‬
II
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II
H
rill
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‫ح‬
(S
00 ‫و ح‬
СЯ ،S СЦ
‫اإ‬ ‫ي‬
N
‫و؛‬
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‫| دأ '‬

‫‪1‬‬
‫ه‬
‫‪I‬‬
‫‪о‬‬
‫‪ ?.‬ﻗ ﺎه‪ ?1‬ت‬ ‫ﺀ!‬
‫‪О‬‬
‫§‪،‬ﺓﻕ‬
‫‪b‬‬
‫‪ê‬‬
‫‪b b‬‬
‫ة‬ ‫ﻗﻬﺔ‬ ‫ة ‪| 6‬‬ ‫أ؛‬
‫ه‪a‬‬
‫ق و‬

‫ﺀ و‬ ‫‪Q‬‬
‫‪о ٢٠‬‬
‫وه‬

‫‪is‬‬ ‫‪il‬‬ ‫■‪٠‬‬

‫‪OV‬‬
‫ه ‪b‬‬
‫ﺀ ج‬
‫وه أ‬
‫ﺀ‪:‬‬
‫ال‪p .‬‬
‫و ‪ 0‬ج‬
‫زﺀ‬ ‫ﺓﺇ ﺀ‬
‫‪II‬‬
‫ؤة‬

‫‪И 1‬‬ ‫م‬

‫‪.٠‬‬
‫م‬
‫‪1‬‬ ‫‪I‬‬
‫‪٠‬‬ ‫أ !‬ ‫‪٥٥‬‬ ‫^‬ ‫‪II II‬‬
‫‪I‬‬ ‫«‬ ‫و‬

‫؛>‬
‫؛‪3‬‬
‫أ‬

‫‪I‬‬
‫ة‬ ‫ة!‬ ‫‪١‬‬ ‫‪b‬‬
‫‪О‬‬

‫‪b‬‬
‫‪1‬‬ ‫ااا‬
‫و‬ ‫ج‬
‫‪pq‬‬ ‫‪а‬‬
‫ق |‬
‫أ‬ ‫ﺀ‬
‫‪S‬‬
‫دﺀ‬ ‫وأ‬
‫إل‬ ‫‪Ш‬‬ ‫‪I‬‬
‫‪II‬‬ ‫‪й‬‬ ‫|ه‬
‫ة‬ ‫ق‬
‫‪1‬‬
‫‪|pq‬‬ ‫ﺑﻢﺀ ص‬ ‫ة‬
‫‪II‬‬
‫|ل‬
‫ؤة‬ ‫‪III|| ш‬‬ ‫§ﺓ‬
‫هه‬
‫وق‬

‫ﻧﺞﺀ ‪о‬‬
‫إ|‬
‫ﺑﺎ‬
‫ه‬
‫‪VO‬‬ ‫‪00‬‬
‫ﻳﻢ‬ ‫ﻳﻢ‬
 ‫دد‬
‫ﺀ ة‬

‫ﺀ و‬
‫‪ C4‬نﺀ‪0‬‬
‫آلﺀ‬ ‫\‪â‬‬ ‫ﻕ‪ON 4‬‬
‫‪٣١٣١٠٢٢‬‬
‫‪B B S‬‬
‫‪0‬ه ص ﻫ ﺎ‬
‫وة‬

‫أ«|‬ ‫©و | ‪I IЙ‬‬ ‫‪III‬‬

‫‪il‬‬ ‫ص‬ ‫‪III‬‬
‫‪III‬‬ ‫‪м т б я б‬‬ ‫‪м я т‬‬

‫‪lo‬‬
‫^‪0‬‬
‫ﻫﺔ ض ‪1‬‬ ‫؛‬
‫ة|‬ ‫‪ .‬ق ‪|1‬‬
‫وﺀ‪ b‬ع‪l‬‬
‫ج | ئ |‬
‫ح‬ ‫و إم‬
‫أأ ﻗﺔ‪ 1‬أ ﻗﻖ‬
‫‪11 II‬‬ ‫ي ع‬
‫‪٩‬‬
‫‪٥٥‬‬
‫‪0‬‬
‫ﻣ ﺢ‪0‬‬ ‫‪ ٠‬زم‬ ‫‪00‬‬ ‫أ ؛|‪4H‬‬
‫ه‪3 .‬‬

‫‪я‬‬ ‫|‪1‬‬ ‫ج| ‪11‬‬

‫‪1:‬ة‬ ‫‪1‬‬
‫‪Я‬‬ ‫ة‬ ‫ﻗﺔﺀ‬ ‫آل ﺀ م '‬ ‫ﻓﻘﺔ‬ ‫‪1‬ل‬ ‫ن‬

‫‪Ï‬‬

‫‪1‬‬ ‫‪ ■t‬ؤ ‪< -t‬‬

‫‪I I‬‬
‫‪I‬‬
‫‪I‬‬
‫ق‬
‫‪I‬‬ ‫|ف ه‬
‫ه ﺀ‬
‫‪I‬‬
‫ق‬
‫‪I‬‬ ‫ح؛‬ ‫|ة‬
‫||‬ ‫ه‬
‫ﺀ‬
‫ض؛‬

‫و‬ ‫‪،4‬‬
‫ص‬
‫‪،S‬‬ ‫‪Г4 N‬‬ ‫‪СЧ‬‬

‫‪91‬‬
 ‫ج‬

‫‪p‬‬

‫وﻧﺖ‬

‫‪« и‬‬

‫ص‬
‫‪ц‬‬
‫ح‬
‫ﻳﻢ‬
‫‪о‬‬
‫‪III‬‬
‫“ ‪M b‬‬
‫ﻫﺎ‬
‫‪٩‬‬
‫‪40‬‬
‫‪٣١‬‬
‫ﻫﺎ‬
‫‪о‬‬
‫ﻩ‬
‫‪00‬‬ ‫ﻗﺔ‬ ‫ة §‬
‫‪О‬‬
‫ص‬ ‫‪Р‬‬ ‫‪Р‬‬
‫ﻳﻢ‬
‫‪P‬‬
‫ﻗﻮ|‬
‫؟ذو م‬ ‫; ﻗ آل |‬
‫اا‬

‫‪P‬‬
‫‪٣١‬‬
‫©‬
‫ﻕ‬
‫آل §‬
‫'‪111‬‬ ‫‪1‬‬
‫د‬
‫‪٠ .‬م<‬

‫‪и м я‬‬
‫‪I I‬‬
‫‪м м‬‬
‫‪бб‬‬
‫‪ 1‬ق‬
‫ه ‪Й‬‬
‫‪ÜÜ‬‬
‫|‬

‫‪UÜ‬‬
‫ﺀ‬ ‫أﺀ‬

‫ةة ﻗﺔ‪ 1111‬ة‬ ‫‪II‬‬ ‫|ة‬

‫'ص‪-‬‬
‫‪I l l l‬‬

‫‪I‬‬
‫‪I‬‬
‫ة‬
‫‪p‬‬

‫‪I‬‬
‫§■‬
‫‪<я‬‬

‫م‬
‫‪٠‬‬ ‫‪٠٠٠‬‬
‫‪II‬‬ ‫ؤ‬
‫‪٧١ ٠١ ٠١‬‬
‫> >‬
‫‪٠٠٥٠‬‬
‫‪^٠‬‬
‫‪1‬‬

‫‪м‬‬
‫ﺓ‬

‫‪I‬‬
‫‪я‬‬
‫‪É‬‬ ‫ه‬
‫‪О‬‬
‫‪٢٠‬‬
‫‪I‬‬
‫؟؛‬
‫‪٢٠‬‬
‫‪ш‬‬
‫‪٢٠‬‬
‫‪٠٠‬‬
‫‪|i‬‬ ‫ق‬
‫ق‬
‫ﺀ‬
‫يم‬
 ‫وم‬ ‫ظ‬
‫ص‬

‫ﺀ‬
‫ؤق‬ ‫‪'I‬‬ ‫إ‬
‫‪٠‬‬
‫و‬

‫ﺓ ‪о‬‬ ‫‪Й‬‬
‫ة ‪٢١‬‬ ‫ة‪:‬‬ ‫ه‬
‫§‬
‫ﺀآل ه‬ ‫‪a i‬‬
‫ﺀ م‬
‫جﺀ‬
‫‪II‬‬ ‫ق‬
‫!ق‬ ‫‪и‬‬ ‫ه ‪0‬‬

‫‪٠٠‬‬
‫‪d‬‬
‫ق‬‫إلﺚ‪1‬‬
‫‪-"0‬‬ ‫|ﺗ‬
‫‪ON‬‬
‫ا‬ ‫و‬ ‫ﻗﺔ‬
‫ة‬ ‫ا ‪0‬‬ ‫آل ﺟ ﻖ ‪0 0‬‬ ‫‪VO‬‬
‫‪ill‬‬ ‫‪٠‬‬
‫‪ 1b‬ةه‪ 1‬ة‬ ‫‪ ٠‬هﺀ‬
‫‪S‬‬
‫‪٠‬‬

‫■؛؛إ؛أ؛إ‬
‫‪٠٠‬‬
‫‪a‬‬
‫‪,‬ﺀ‬
‫‪ 1‬و‬
‫ذ ق‬
‫ﻗﺎ‬ ‫‪1 1‬‬
‫‪I‬‬
‫ﺀ‬ ‫ة‬ ‫‪١‬‬

‫‪II‬‬
‫‪H‬‬

‫‪٥‬‬ ‫‪٥ ٥‬‬ ‫‪1‬‬ ‫‪٠ ٠‬‬

‫ص‬ ‫صص‬

‫‪ce‬‬
‫‪p.‬‬ ‫‪b‬‬
‫و‬
‫ق‬
‫‪I‬‬ ‫‪I‬‬
‫‪I‬‬ ‫ة‬

‫؛‬
‫|إ‬
‫‪H‬‬ ‫وﺀ‬ ‫§‬ ‫آل‬

‫ج‪.‬‬ ‫ﻟﻪ ﻟﻪ‬

‫ه‬ ‫‪Î‬‬ ‫‪٠٠ ,‬‬ ‫إل ‪сЗ‬‬

‫ظ‬ ‫ﺀ‬
‫ه‬

‫م‬ ‫‪H‬‬
‫‪Kg‬‬
‫‪I‬‬ ‫‪1‬ق‬
‫‪a‬‬ ‫ه‬ ‫ال‬
‫ﺀ ة‬

‫‪٠i‬؛‬
‫§» أ ﺀ ع‬ ‫آل و‬ ‫ةا‬
‫§‪:‬‬ ‫‪0‬‬ ‫‪g‬‬
‫! آل‬
‫‪ 1‬ق‬
‫‪٣‬‬ ‫ض |إ |‬
‫ئ‬
‫‪i'- s‬‬
‫ﻳﻢ‬
‫‪0‬‬
‫‪٢٢‬‬
‫ﺀ ﺗﻪ‬ ‫‪1‬ق‬ ‫‪ON‬ﻢ‬
‫ﻳ‬
‫ص‬
‫يم‬ ‫‪00‬‬
‫ﻳﻢ‬
‫‪00‬‬
‫ﻳﻢ‬ ‫وﺀ‬
‫‪٢٠٠‬‬
‫‪0 00‬م‬
‫‪4‬ﺀﻳﻢ‬
‫‪00‬‬

‫وو‬ ‫ﻳﻢ‬ ‫ث‬ ‫ص‬

‫‪93‬‬
 ‫‪٠٠‬‬
‫‪çs‬‬

‫ؤق‬

‫ق‬
‫‪٢٢‬‬

‫ق ‪-‬ﺑ ﻢ‬

‫ﺀو‬
‫‪I‬‬
‫«‬

‫‪٠٠‬؛؟‪0‬‬ ‫ه ﺀ‬ ‫م‬ ‫‪٠٠‬‬

‫;‪2‬‬
‫ه‪Г -‬‬
‫‪Wсо‬‬ ‫ﻧ ﺠ ﺦ ‪٤٠‬‬
‫‪ .‬ءزء\‬
‫||ةق‬
‫‪٠٠‬‬
‫وﺀ‬ ‫‪llllf‬‬
‫ﺝ‬ ‫‪■I‬‬ ‫ج‬ ‫ﺑﻢﺀ ‪٧١‬‬ ‫‪٢٠‬‬
‫‪٢٢‬‬ ‫؛ ج | ة‪1‬‬ ‫آل‬ ‫“!‬ ‫‪и‬‬ ‫| آل‬
‫‪٢٠‬‬
‫‪В‬‬
‫‪о 40‬‬
‫‪،‬‬
‫‪ ٠٠‬؛‬

‫ك‬
‫ﺗﻲ |‬ ‫‪I‬‬
‫‪,О Й‬‬ ‫‪’О‬‬
‫! ص ‪О‬‬

‫‪il‬‬ ‫■ ‪I p‬‬
‫ة‪.‬‬
‫‪^٧١‬‬
‫‪00‬‬
‫‪,‬‬
‫ة‬
‫‪и‬‬
‫‪i‬‬
‫‪•S‬‬ ‫‪•C‬‬
‫ﺀﺀ‬
‫‪•3.1‬‬

‫‪٢٠ ٢٠ ٢٠‬‬
‫ق‬ ‫ة‬
‫‪٢٠‬‬
‫ﻳﻢ‬
‫ق|ق‬
‫‪٢٢٢ ٢١ ٠‬‬

‫‪<u‬‬
‫‪00‬‬ ‫؟‪4‬‬
‫ه‬ ‫ة‬

‫أو‬
‫ة‬ ‫ق‬

‫‪I‬‬
‫‪III‬‬
‫|ﻣ ﺢ‬
‫‪I‬‬ ‫‪X‬‬ ‫‪ ٣١‬مبﻢ‬

‫‪94‬‬
 ‫ه‬
‫‪٠٠‬‬

‫§‬
‫؛ ‪1‬‬
‫‪II‬‬ ‫ه‬
‫§‬

‫‪II‬‬
‫« «‬
‫ؤ‬
‫ة‬ ‫«‬
‫‪I‬‬
‫ق‬

‫|‪.‬ق‬
‫‪1‬وﺀ‬
‫ة؟‬ ‫ﺀخ‬
‫ه ﺀه‬ ‫ﺀﺀ‬

‫ة‬ ‫‪٠‬‬ ‫هءء‬ ‫‪ 0‬ة‬

‫ﻣﺤﺎ‬

‫‪I‬‬ ‫‪Iя‬‬ ‫أ ‪|||II‬‬

‫‪я‬‬ ‫‪я‬‬ ‫‪я‬‬
‫‪и ъ й‬‬ ‫‪и‬‬ ‫‪ÛU‬‬ ‫ة‬ ‫ة‬ ‫||ة‬ ‫ﻗﺔ ‪ 0‬ؤ ﻫﺎ‬ ‫ق‬
‫‪•а‬‬
‫‪٠‬‬

‫‪•M‬‬
‫و‬

‫آ ا ا ‪cb‬‬
‫|آلق‬ ‫ﺑﻢ ؛ ‪5‬‬

‫ص‬ ‫ؤؤ‬ ‫ﻁ‬ ‫ص‬ ‫ص‬ ‫ؤ ‪(b та‬‬ ‫‪та‬‬ ‫‪та‬‬

‫ة‬ ‫ة‬ ‫ة‬ ‫ة‬
‫‪٣١‬‬ ‫‪٢٢١٣ ٦‬‬ ‫‪٠٢٢‬‬ ‫‪٢٠٦‬‬

‫ﻗﺔ|‬

‫و‬
‫‪٠٠‬‬

‫‪I‬‬
‫د‬

‫‪I‬‬
‫ج‬
‫و‬
‫‪٣١‬‬ ‫‪٣١‬‬

‫‪95‬‬
 ‫خ‬
‫‪о‬‬
‫ج‬
‫‪p‬‬
‫ق‬
‫ة‬
‫‪I‬‬ ‫‪il‬‬
‫‪m‬‬ ‫‪mm‬‬ ‫ق‬
‫ص'‬
‫|ق‬ ‫‪1‬‬ ‫‪ ,‬ا‪:‬‬ ‫‪1 1‬‬ ‫آل ة ‪1‬‬

‫إا؛أ‬ ‫‪II‬‬

‫|!و‬
‫ئ‪ëS” .‬‬
‫آل‬
‫|ق‬ ‫‪١٥‬‬
‫؛ ة ‪b‬أ‬ ‫' ‪٠٠‬ص‬ ‫‪p‬‬ ‫‪،s‬‬

‫‪II‬‬
‫'|ةأ‬
‫ه‬ ‫‪a i‬‬
‫‪،g‬‬
‫‪со‬‬
‫ة م‬
‫ﺀةة أم‬ ‫‪b‬‬
‫ﻧﺂ‬ ‫‪٠ .‬‬ ‫‪ 1‬ﺀ‬ ‫م § ق‬ ‫ق‬

‫و‬

‫ة‬
‫‪Q‬‬
‫؛‪3‬‬ ‫‪d ٠‬‬
‫‪s s‬‬
‫و‬ ‫ﻳﻢ‬
‫‪III‬‬ ‫‪II‬‬ ‫§‬
‫‪٠٦‬‬

‫ق‬ ‫‪I‬‬
‫ض‬

‫ه‬
‫‪I‬‬ ‫‪|1‬‬ ‫‪СЛ‬‬
‫‪Ü‬‬

‫‪I‬‬ ‫‪I‬‬
‫ه‬ ‫ة‬
‫■‬
‫ﺀج‬ ‫‪il I‬‬
‫‪I‬‬
‫‪٠٠‬‬

‫و‬
‫م‬
‫ج ‪и‬‬
‫ة‬
‫‪и‬‬
‫!‪1‬‬ ‫| ظ‬
‫!و ‪I I‬‬
‫وص‬
‫‪H‬‬
‫ق‪.‬‬
‫؛و‬
‫‪jS H‬‬ ‫ص ‪■٠‬‬ ‫ة‬ ‫‪H‬ئ‬
‫‪as‬‬
‫ال ﺀ‬
‫ة‬ ‫‪8‬‬‫ا‬ ‫ة‪1‬‬
‫‪II‬‬
‫؟‪1‬‬ ‫ص ‪■Sa 03‬‬
‫ﻧﺠﺪﻫﺪ‬ ‫‪II‬‬
‫• ‪d‬‬
‫§‬‫و‬

‫‪II l l‬‬
‫‪J‬‬ ‫‪i‬‬ ‫|||| | ‪1‬‬
‫ﻗﻘﻮ ‪1‬‬
‫‪00со‬‬
‫‪٧١١٥‬‬
‫<‬
‫‪1 1‬‬

‫و‬
‫‪٢١٣٦‬‬
 ‫و ‪0‬ث‬
‫ﻡ‬
‫'‬
‫‪٠١‬‬ ‫ﻳﻢ‬
‫ﻉ‬
‫; ﻩ ؟ ﻣﻢ<‬ ‫‪٠‬‬
‫‪٠‬‬ ‫‪٠‬‬ ‫ح‬ ‫ؤ ‪٦٠‬‬ ‫; ‪4D‬‬
‫ﻣﻢ‬ ‫‪٢٢٠‬‬ ‫‪о‬‬
‫‪٠‬‬ ‫‪: ٠١‬‬

‫ﻕ‬ ‫ﻕ‬ ‫ﻅ‬

‫راأأ؛‬
‫إل ﻩ‬ ‫ﻩ‬
‫ﻕ‬ ‫ﻩ‬ ‫ﺓ‬ ‫‪6‬ﺓﺓ‬ ‫؛ ‪0‬‬ ‫ﻯ‬ ‫‪б‬‬
‫‪о‬‬
‫ﺃ‬ ‫اة‬
‫‪1 Ш‬‬
‫ﻳﻢ‬ ‫ي|ة‬ ‫|‬
‫‪٠‬‬ ‫‪١٠‬‬
‫‪٠‬‬ ‫|ق‬
‫إل ج‬

‫ظ‬
‫‪I I‬‬
‫ﺀ ﻩ‬
‫‪٠٠‬‬
‫‪ со‬ﺀ‬ ‫|ﺀ ة ||‬ ‫‪Р‬‬ ‫ﺀﺀ ‪٠‬‬
‫ج• ﺀ ﺀ‬
‫ﺀ ه‬ ‫وج ظ‬
‫‪6‬‬ ‫‪6 6‬‬ ‫'‪Ü‬‬ ‫ة||‪6‬‬ ‫‪6 1 1‬‬

‫'■ ف < ﻗ ﻎ‬

‫‪îlî‬‬
‫||ق||‬ ‫ﻙ ﺀ‬

‫' | ‪1‬‬
‫‪PO‬‬
‫ﻍ ﺓ•‬ ‫ة ق‪1‬‬
‫وم‬

‫‪٠ ٧ ٠‬‬ ‫‪٠٠٠٠٧‬‬

‫ﻩ‬
‫‪٠٦ ٣٦ ٣٦‬‬ ‫ﺕﺩ‬
‫‪٠٦٠٦‬‬ ‫‪٣٦‬‬ ‫ﺏ‬ ‫ﻱ‬ ‫ﺩ‬
‫‪٠٦‬‬ ‫ﺕ‪٠‬‬
‫‪٦‬‬
‫‪ ٢٢ ١٥‬ﺹ‬ ‫‪о‬‬ ‫‪о‬‬ ‫‪о‬‬ ‫‪٠‬‬ ‫‪о‬‬

‫‪٠‬‬
‫ق|دة‬ ‫ﻯ‬ ‫ه‬
‫‪и‬‬
‫‪S6-‬‬
‫ه‬ ‫ﺓ‬
‫ﻭﻕ‬ ‫ﻡ‬ ‫س‬
‫ق ‪.٥٠‬‬
‫‪ 1‬ة‬ ‫|ﺓ‬
‫|‬ ‫ﺓ‬ ‫|يﺀ ‪:‬‬ ‫ﻭ‬
‫ﻕ‬
‫‪l‬؛ ‪l i ï i‬‬‫‪0‬‬
‫ع‬ ‫ﻣﻢ ب‬ ‫ﺓ‬ ‫ﺝ‬
‫‪٢٠‬‬
‫‪0‬؛ﻕ‬
‫‪Ы ٥٠‬‬
‫ﺏ ‪ ٠-‬ﻩ‬ ‫‪1،‬‬
‫ﺹ‬
‫؟ﻩ‪) ٦‬‬

‫إ|‬
‫‪Р/‬‬ ‫‪Ы‬‬ ‫‪I‬‬
‫ﺉ• ﻕ‬
‫ﻱ‬
‫ﺹ‬ ‫|‬

‫‪I‬‬
‫ﻩﺀ‬
‫ﻡ‬ ‫‪0‬‬ ‫ﻑ ‪ ٢٠‬ه ‪S‬‬
‫‪hJ‬‬
‫‪ _٢٠‬ﺓ‬
‫ﻭﻩ ﺀ‬
‫‪ N‬إل‬
‫ﻭﺓ‬
‫ﺓ ‪1‬ﺓ‬
‫ق‬
‫ﺓ‬
‫ﻕ‬
‫ﻕ‬
‫ﻓﻲ‬
‫‪У‬‬
‫اؤ‬
‫■‪0‬‬
‫‪со‬‬
‫ﻩ‪٠‬‬ ‫| | |‬ ‫§‬ ‫‪٠٠‬‬
‫ة‬ ‫ﻕ ﻩ‬
‫‪Ù‬‬
‫‪.٢٠‬‬
‫ﻕ‬ ‫ﻭ‬ ‫ﻥ‬ ‫‪1‬ﻕ‬ ‫‪m‬‬
‫وءو‬ ‫‪٣١ ٢٢‬‬
‫ﻣﺎ‬ ‫ﻣﺎ‬
‫‪Г- 00 04 0‬‬ ‫^‬ ‫‪ ٣١‬مي‬
‫‪١٥١٥ ١٥‬‬
‫‪٨‬‬
‫<‬
‫ﺹ‬ ‫ﺹ‬ ‫ﺝ‬ ‫‪0‬‬ ‫مي‬
‫‪٧٦ ٧٦‬‬ ‫‪١٥‬‬
‫‪٣١‬‬
 ‫‪,‬ة‬
‫ب ﺟﺊ‬
‫‪о‬من‬
‫ج‪،‬‬
‫‪So‬‬
‫ه‬

‫‪со‬‬

‫ﻟﻪ‬
‫‪II‬‬
‫ق‪I б III 6‬‬
‫ه‬ ‫م ‪я‬‬
‫ﻟﻪ‬

‫ةﻧ ﺔ‬ ‫‪ о‬ف‬ ‫‪cb‬‬

‫‪ш‬‬
‫ح ت‬
‫§ ج‬
‫ق ج‬ ‫وج‬
‫ى‬
‫ء ظ‬
‫م‬
‫ﻓﻪم ﻓﻪ ‪٠ ٠‬‬
‫م‬ ‫ق‪£‬‬
‫وة‬
‫§؟‬ ‫‪©٠‬‬
‫ةﻖ |‬
‫ة |ﺋ‬ ‫‪II‬‬
‫آل |‬
‫ق!‬ ‫م‬
‫أ!‬
‫‪S‬‬

‫ة©‬ ‫‪о‬‬
‫‪i l‬‬
‫؛ ~إل‪|у о‬‬
‫مﺑ ﻪ‬
‫‪•ОС‬‬
‫‪go‬‬

‫دمة !ة‬
‫' آل ى‬

‫‪о c5‬‬
‫‪ill‬‬

‫ﺀ‪.‬‬ ‫‪.‬‬ ‫ئ‬

‫م‬
‫‪•S‬‬

‫ئ‬ ‫‪I‬‬
‫ئ‬ ‫‪،0‬‬
‫ﺀؤ‬ ‫ظ‬

‫‪я‬‬

‫‪II‬‬
‫«‬
‫‪я‬‬

‫‪I‬‬ ‫ه‬
‫‪I‬‬
‫ﻫﻪ‬
‫ة■‬
‫؛؟)‬

‫§‬
‫ﺀإ‬
‫ﺟﺎ‬
‫‪il‬‬
‫<‬

‫‪.2‬‬
‫ﺀ‪ ٠‬ﺀ‪٠‬‬

‫ة‬
‫ﻟﻪ‬
‫‪•S‬‬
‫ﺀ‬

‫| ﺀ‬
‫‪•оI‬‬ ‫ئ ‪0‬‬ ‫ه‬
‫‪и‬‬
‫‪s‬‬ ‫ﻫﺎ‬ ‫ق‬
‫§|‬ ‫ج ئ‬
‫‪11‬‬
‫ؤ‬
‫‪й§û‬‬ ‫ح *‪5‬‬
‫‪II‬‬ ‫ة‪:‬‬
‫‪If‬‬
‫د‬
‫ﻫﻪ‬
‫ه‬
‫‪Я‬‬
‫ص‬ ‫‪٠٠‬‬
‫‪٣ ١‬ﺀ‬ ‫‪٣١‬‬ ‫‪٣١ ٣١‬‬
 ‫‪l 'I‬‬ ‫‪ 6‬ق|ة‬ ‫ه‬
‫ﺀ ة‬ ‫‪-‬ة‪.‬‬ ‫ه‬
‫‪о‬‬
‫و‪ .‬ه‬
‫§ص‬
‫ﻣﻤﺎ‬ ‫ت‬ ‫ﺀ‬
‫ة‬ ‫‪о‬‬
‫©‪٨‬‬
‫ة‬ ‫‪b‬‬ ‫؟‬

‫ﻗﺎ ! | ال‬
‫ق;‬ ‫§■‬
‫ئ‪b‬‬ ‫أا‬ ‫ﺑﻰ ﺀ‬
‫■!ة‬
‫إ ﻗﺎ‬ ‫‪Си‬‬

‫‪II‬‬ ‫ﺀو‬
‫‪ b‬م‬
‫ﻗﻠﺆﺗﻢﺀ ‪0‬‬
‫ﺀ‬ ‫‪сз‬‬ ‫‪<u‬‬
‫ه ﻳﺄ‬
‫ﺀ‬
‫ﺑﻤﺘﺄﺑﺆ‬

‫‪III‬‬ ‫«‬ ‫‪о‬‬ ‫' ‪i l l s‬‬ ‫‪111‬‬ ‫ق‬ ‫'؟؛‬

‫ﺀ‬
‫‪٠١‬‬

‫ه‬
‫ث‬

‫‪b‬‬
‫؟‬
‫‪ce‬‬ ‫‪Ü‬‬

‫ة‬

‫‪СЗ‬‬ ‫‪MÈ‬‬ ‫هﺀق; ‪ 1‬ئ‬

‫‪В‬‬
‫‪СО‬‬
‫‪о‬‬
‫‪со‬‬
‫أق‬ ‫‪СО‬‬

‫ة‬ ‫‪I‬ؤ‬ ‫ﺓ‪il‬‬

‫|‬
‫‪СЗ‬‬
‫‪с н‬‬ ‫‪■и‬‬
‫ﺀ ﻟﻪ‬
‫‪li‬‬
‫م ‪٠٩‬‬ ‫‪й о 1‬‬
‫‪О о.‬‬ ‫ه‬
‫‪٧‬‬
‫‪сЗ‬‬
‫ة؟‪3‬‬

‫ﺀ‬
‫‪о‬‬
‫‪о‬‬
‫‪О‬‬
‫أإإإ‬
‫ة!!‬ ‫‪j‬‬
‫‪)СО‬‬
‫ح‪о .‬‬
‫‪и‬‬

‫‪Ш ٣٦ ٠١‬‬

‫«‬ ‫‪b 0‬‬

‫‪II‬‬ ‫ﺀ‬
‫ح‬
‫ﺛﻤﺔ‬ ‫‪С‬‬
‫ت‬
‫||ة ‪P‬‬‫‪ Ш b ٠‬و‪,‬‬

‫|”‬
‫م‪0‬‬ ‫‪٢۴‬‬
‫‪00‬‬ ‫‪00‬‬ ‫‪٠١‬‬ ‫‪ON‬‬ ‫‪٠١‬‬ ‫‪ON‬‬ ‫‪ON‬‬
 ‫|ت‬
‫ﻗﻖ‬ ‫دو ;‬
‫‪:•о‬‬
‫‪:'О‬‬

‫‪00‬‬ ‫ي‬ ‫‪٠٢٢‬‬ ‫ق‬

‫‪٥‬‬ ‫‪о‬‬ ‫‪о‬‬ ‫ه‬ ‫ؤ ‪00‬‬
‫‪о‬‬ ‫‪٠‬‬

‫‪о‬‬
‫ض‬
‫ظ‬ ‫ظ‬
‫آ‬
‫إ‬ ‫ء•‬

‫ء‬
‫‪Со‬‬
‫‪1‬‬ ‫ﺃ‬
‫ه‬
‫ﻕ‬ ‫ﺓ‬ ‫‪и‬‬ ‫■ ق ‪4‬ﺀ ‪Ü‬‬
‫‪11‬‬
‫‪w‬‬ ‫ض‬ ‫‪I‬‬
‫‪ТЗ ТЗ‬‬

‫‪٧١‬‬ ‫ق||ة‬ ‫|‬ ‫'ﻕ‬

‫‪٠١‬‬
‫‪1Î‬‬
‫‪Jill‬‬ ‫؟ة‬ ‫‪II‬‬
‫|؛||ة |‬
‫ﻗﺄ‬
‫ص ‪со‬‬ ‫ة ‪.‬ﻫ ﻪ‬
‫م و‬
‫‪1‬ﻕ‬ ‫ﻟﻪ‬
‫ء ة‬ ‫ظ■‬
‫‪о‬‬ ‫؛‪ 1‬ﺀ‪ 1:1‬اق‬
‫‪ 6 Î.‬ا‬ ‫؛‬ ‫ﺓ‬

‫ﻕ‬ ‫‪0‬‬
‫‪с‬‬
‫هﺀ‬
‫'‪Р‬‬
‫^‪٠٠‬‬

‫‪III‬‬ ‫أ‬ ‫؛؛‪5‬‬

‫*‪0‬‬

‫دة‬
‫‪Z‬‬
‫‪I‬‬ ‫ه‬
‫<‬

‫ﺝ‬

‫ﺳﻪم‬
‫‪0‬‬ ‫ﺑﻲ‬
‫‪I‬‬
‫د‬ ‫‪ S S‬ن‬ ‫ج‬
‫ق‬
‫‪٧‬‬ ‫ه ه‬ ‫ه‬
‫ه‬
‫ﺓ‬
‫‪I‬‬
‫ت‬ ‫‪и‬‬ ‫دأ‬
‫إ‬ ‫‪-0‬‬

‫‪١١‬‬
‫‪"р‬‬ ‫‪ТЗ‬‬
‫‪•о‬‬ ‫ه‬ ‫‪.‬ق‬
‫‪0‬‬ ‫‪•Г‬‬ ‫‪٠٥‬‬ ‫§؛‬
‫‪W‬‬
‫ص‬ ‫ﺀع‬ ‫| ﺃ‬
‫إل‬
‫‪о‬‬
‫‪и‬‬
‫‪ 'g‬قﺀ‬ ‫ؤ‪I‬‬ ‫و‬ ‫‪О‬‬

‫ق؛‬
‫‪S‬‬ ‫ظ‬
‫ه‬ ‫ﺀ قﺀ ج‬

‫ه‪a‬ع‪ :‬ئ ص ﺓ‬
‫ئ‬ ‫ﻕ‬ ‫ق ﺀة‬ ‫|ل ؤ ؟‬ ‫‪Û‬‬
‫‪•S‬‬
‫م‬ ‫‪I‬‬
‫‪il‬‬
‫‪40‬‬
‫| ‪6‬‬
‫أ‬
‫ق‬ ‫ﻩ ‪О О‬‬
‫و آ©‬
‫‪^ ٦ ١٦‬‬
‫‪٣١‬‬ ‫ج‬ ‫‪OV‬‬
‫‪٠‬‬
‫‪٠٢٢‬‬ ‫ب‬ ‫‪٠٢٢‬‬ ‫‪я‬‬

‫‪100‬‬
 ‫‪çs‬ه‬

‫ﺹ‬
‫©‬
‫‪SI‬‬
‫قﺀة‬
‫ﺀ ‪S،‬‬
‫ﺀج‬
‫‪© ٥٠‬‬
‫ﻡ‬
‫‪P‬‬
‫ﺀ ه‬
‫‪III‬‬ ‫ق‬ ‫‪P‬‬ ‫‪P‬‬ ‫وﺀ‬

‫ق ‪0‬‬ ‫|ة‬
‫|ة‬ ‫؛‪1‬‬
‫‪٢٠‬؟ ‪٠‬‬
‫|ي‬ ‫ﺀ‪.‬ة‬
‫‪٢٠‬‬ ‫ﺀ ل‬
‫‪cP‬‬ ‫جﺀ‬ ‫م؛‬
‫ﺀﺀ‬
‫ت 'ﺀ‬ ‫ق‪.‬ق‬ ‫‪I‬‬
‫آلق‬

‫‪ 1‬أأ‪:‬‬ ‫ه‬
‫‪٧‬‬

‫؛؛إ؛أإ‬ ‫‪© ,‬ﻕ‬

‫» ‪٨‬‬

‫| أ | إ |‬ ‫‪III‬‬
‫ﻩ‬ ‫ﺀ‬
‫مبﻲ ‪٢٠‬‬
‫دم ﺀ‬
‫‪S‬ئ ي‬
‫‪11‬ة‬

‫ج‬
‫و‬
‫<‬
‫رؤ‬ ‫رؤ‬ ‫ج‬ ‫ؤ‬ ‫ﻭ‬

‫ه‬ ‫‪ 8‬ﻭ‬
‫‪٢٠‬‬ ‫و‬
‫مق ﺢ‬ ‫‪0‬‬ ‫©‬
‫ﻡ‬ ‫ﻩ‬
‫اة‬
‫‪со‬‬

‫أ ؛؛‬
‫‪;I‬‬ ‫‪II‬‬
‫ﻉ‬
‫؟‬
‫‪٢٠‬‬
‫ﺓ‬
‫جﺀ‬
‫ال‬ ‫‪I‬‬
‫‪1‬‬

‫؛‪ill‬‬ ‫ة‬
‫‪О‬‬
‫©‬ ‫|ق‬ ‫‪٢٠‬‬
‫‪ . ٢٠ О‬ﻧ ﺤ ﺪ‬
‫‪٢٠‬‬
‫ة‬ ‫|إ‬ ‫‪ СЛ‬ﻩ‬
‫‪Z‬‬
‫‪11‬ئ‬
‫ا‬
‫‪II‬‬ ‫ه‬
‫‪О‬‬

‫ق‬
‫ﻩ ﻡ‬
‫ة ﺀ‬
‫||‬ ‫ﺀ‪.‬مبﻲ‬ ‫“ﺓ‪-‬ﻕ‬
‫لآ‬
‫‪1"Г‬‬ ‫‪٢٠‬ة‬
‫ﻳﻢ‬ ‫ؤ‬
‫ق‬
‫‪١٥ Г-‬‬
‫ﻳ ﻢﻳ ﻢ‬
‫؟‬

‫و‬
‫ﻩ‬
‫ﺩ‬
‫‪٠‬‬
‫‪٣١‬‬
‫و‬ ‫و‬ ‫‪٢٢‬‬ ‫و‬ ‫‪٢٢٢٢‬‬ ‫‪٢٢‬‬

‫‪101‬‬
 ‫ء‬
‫‪p 's‬‬
‫||‬
‫ح ﺀ‬ ‫ص ‪٣٣‬‬
‫ة ?؛‬
‫ة|‬
‫ﻣؤ ﻊ‬
‫ة‬ ‫؛‪1‬‬
‫و‪٥ .‬‬

‫وج‬

‫!أ!إأأ‬
‫ص ن‬ ‫ﻩﺀ ‪СО‬‬

‫‪I‬‬
‫‪Я‬‬ ‫‪١‬؛‬ ‫‪ 8‬ا‬
‫‪аде‬‬ ‫ﻗﺔةﻗﺔ ‪6‬‬
‫ؤ‬
‫‪Ü‬‬ ‫ص‬
‫'ق‬ ‫ﺀأ‬ ‫ي‬
‫‪и‬‬
‫!!أ‬
‫‪I I n‬‬

‫‪٠‬‬
‫ﺀﺀ‬
‫ح‬
‫ه‬

‫‪d‬‬

‫ت ﺀ ؛ق‬
‫||‬
‫؟‪٠‬‬
‫ص ب‬

‫ج؛ة‬
‫ؤ §‬
‫‪° я‬‬ ‫‪ -‬ﺟﺎ‬

‫ققق‬
‫ؤ‬ ‫ؤ‬ ‫قق‬
‫ح إل إل‬
‫ع‬ ‫‪È‬‬ ‫‪1‬‬ ‫ع‬
‫‪I I‬‬

‫‪а‬‬ ‫ق‬ ‫ه‬ ‫‪"a‬‬

‫ال‬ ‫‪■5‬‬
‫‪Й‬‬
‫ظ‬ ‫ه‬ ‫ج‬ ‫ظ‬
‫‪0‬‬ ‫‪и‬‬ ‫ه‬
‫‪Щ‬‬
‫« ‪■a‬‬ ‫‪6‬‬
‫‪и‬‬
‫‪is‬‬
‫ة| ظ‬ ‫ى‬
‫و ج‪.‬‬
‫و‪.‬‬
‫‪I‬‬
‫‪I‬‬ ‫‪i l l‬‬ ‫ﻓﻪ‬
‫ة|ة‬ ‫‪ТЗ‬‬
‫‪З‬ﺀ‪с‬‬
‫‪٦٠‬‬
‫§‬ ‫ﺑﻪ‬
‫‪СЗ‬‬

‫ة ظ )م‬
‫‪Q,‬‬ ‫‪CQ‬‬

‫|‬ ‫ق‬
‫ه‬
‫‪U ’i‬‬ ‫‪ II‬اؤ‬ ‫‪I‬‬
‫ﻕ‬
‫ق ‪ §-‬إل•‬
‫|ﻕ ﺀ‬
‫ة‬ ‫ؤ‬ ‫؛د‬ ‫‪а‬‬ ‫‪I‬‬ ‫ﻧﺊ‬

‫|ق‬
‫‪ i‬ﺀ ‪٠٠‬‬

‫وؤ‪ill 1‬‬
‫§§‬
‫‪Æ Ss‬‬
‫ج‬

‫‪ 5‬ةﻣ ﺢ‬
‫ﺑﻪ‬ ‫أ‬ ‫‪1‬‬ ‫ي‬
‫آل ﺑﻪ‬
‫‪.‬هء‬
‫‪III‬‬
‫ةة |‬ ‫ء!‬
‫وة‬
‫ة‬ ‫‪S,‬‬
‫ه‬ ‫|لآت‬‫‪II‬‬ ‫ق‬
‫ة || ‪.‬ه‬
‫ﺗ ﺆم‬ ‫؟‪٤‬‬ ‫‪I‬‬

‫‪b is‬‬ ‫»‬ ‫؛ ‪N‬‬

‫‪II‬‬ ‫'‪со‬‬
‫ة‬ ‫ﺑﻪ‬ ‫ج‬
‫و‬
‫‪и‬‬
‫‪00‬‬
‫‪٣٣‬‬ ‫ب ‪О‬‬ ‫‪٧١٠٠٥‬‬
‫‪٢٢‬‬ ‫‪٢٢‬‬
‫و‬
‫‪٢٢٢٢‬‬

‫‪102‬‬
 ‫‪T3‬‬
‫‪•0‬‬
‫‪Й‬‬
‫‪ÇS‬ه‬ ‫‪,‬‬
‫ﺀأ‬
‫‪IЛ‬‬
‫أم‬
‫ﻕ‪،‬ﻕمب‬
‫؛‬ ‫?‬
‫ه®‬ ‫‪я‬‬
‫‪ :‬ﻗﺔ|‬
‫‪ 1‬غ‬
‫ج‬ ‫ج‬ ‫؛! ة!‬
‫‪1‬ق‬ ‫§‬ ‫‪٠٢٢‬‬ ‫‪00‬‬
‫‪и‬‬ ‫‪м‬‬
‫و؟‬ ‫مي‪ .‬ﺩ‬
‫ﺋﺮ‬ ‫م‬
‫‪:Я‬‬
‫‪-P‬‬

‫ؤ‬ ‫‪I‬‬ ‫‪(Lb‬‬ ‫‪1،:‬‬

‫‪^ Я‬‬
‫‪3‬‬
‫«‬ ‫ق ﻧ ﺔص ق ق‬
‫‪b‬‬
‫‪Ü‬‬ ‫؛‬ ‫‪и б‬‬ ‫' ‪ 1‬ة‬ ‫ا ‪ilT' :‬‬
‫‪ ٠٢٢‬؛‬

‫ه ﺀ ^‬

‫ة‬ ‫آل »‬
‫‪II 6‬‬
‫ة§ة‬

‫ه‬
‫ه‬

‫إل‬

‫‪I‬‬ ‫‪I‬‬ ‫ق‪I‬‬ ‫‪I‬‬ ‫ق‬ ‫ق!‬

‫‪I‬‬ ‫ﺀ‬ ‫و‬ ‫هه‬ ‫ق‬ ‫§‬ ‫ﺹ‬
‫‪I‬‬
‫ض‬ ‫‪0‬ﺀ‬
‫ه‬ ‫!‬ ‫ه‬ ‫ه‬
‫ه‬ ‫‪0‬‬

‫ه‬
‫‪b‬‬
‫ق‪ 1‬ة‬
‫و ‪III‬‬ ‫‪g‬‬

‫ة‪ i‬ﻗﻖ‪1‬‬ ‫ه‬

‫ق‬
‫||■‬‫ق‬ ‫‪*S‬‬ ‫‪и‬‬
‫م‬ ‫ق‬
‫إ‬
‫‪III‬‬ ‫‪я‬‬
‫‪I‬‬
‫‪0‬؛‬
‫‪•0‬‬

‫إ‬
‫‪1‬ق ‪1‬‬
‫ﻣﻘﺼﺄ‬ ‫‪II‬‬ ‫‪ b‬ة‪.‬‬
‫ج •‪о‬‬
‫ؤ‬
‫‪I‬‬
‫‪1‬ق‪1:‬‬ ‫ص‬
‫؛‪٧١ ٧١ ٠ 0‬‬ ‫‪' \p‬‬ ‫ص‬
‫‪٠, ٠‬‬ ‫‪٠‬‬ ‫هب‬ ‫ه‬ ‫ي‬ ‫ب‬

‫‪103‬‬
 ‫ﺀ‬

‫|وق‬
‫‪TJ‬‬
‫© ‪٠‬‬
‫‪а‬‬ ‫؛ ‪II‬‬
‫‪٢٢‬‬
‫ﻕﻕ‬ ‫ا‬
‫‪« .‬ﻩ‬
‫‪٥٠١‬‬
‫‪٢٢‬‬ ‫©‬
‫ج‬
‫‪٥‬‬
‫ﺡ‬
‫و‬
‫‪О‬‬
‫‪١٠‬‬
‫‪١٥‬‬ ‫‪si‬‬ ‫؛ ﻟ‪ ،‬ﺺ‬
‫ﺝ‪"д .‬‬
‫‪٢٠‬‬
‫ه‬
‫‪о‬‬
‫ﻳﻢ‬
‫‪О‬‬
‫ﻕﺝ‬
‫| ة|‬
‫‪00‬‬
‫دأ ﺀ !‬
‫‪З‬ه‪Т‬‬ ‫أ‬ ‫ج‬

‫اه‬
‫' ﻡ■‬

‫أق!»أ‬
‫ﻅ‬
‫‪Ü‬‬
‫‪111‬‬
‫ا؛ ﻫﻪ‬
‫‪o u i‬‬
‫ؤق‪L‬‬ ‫وق‬
‫ﻩ‬ ‫ﻩ‬
‫‪11‬ة‪11‬ةاة ‪6 6‬‬
‫هق!ق‬

‫‪٧١‬‬
‫‪OS‬‬
‫‪О‬‬
‫‪p‬‬

‫؟ ﻩ“‬
‫ه م ﺀ‬
‫ﻡ‬
‫‪ .0.‬ح‬
‫‪٥٥‬‬

‫!ا‬ ‫أ‪1‬‬

‫‪I‬‬

‫‪I‬‬ ‫‪٥٠‬‬
‫‪I‬‬
‫ﻕ‬
‫ﺡ‬
‫ق‬ ‫ق‬ ‫ق‬

‫ﺡ‬
‫ﻟﻪ‬
‫‪i‬‬ ‫‪со‬‬
‫‪٠‬‬ ‫‪،٨‬‬ ‫‪١٥‬‬

‫‪-0‬‬ ‫ﺹ‬

‫‪•S‬‬
‫ق‬
‫‪I‬‬ ‫‪٠‬ه‬
‫ة‬ ‫ﺑﺂ ي‬
‫‪G‬‬
‫ﺡ‬
‫ه‬
‫لا‬ ‫!‬
‫لا‬ ‫‪,8‬‬
‫‪I‬‬
‫إ‪1‬‬ ‫ﺀ‬
‫م ﻣﻲ‬
‫ه‬
‫»‬
‫ه‬ ‫‪СО‬‬

‫‪и‬‬
‫©‬
‫‪٠‬‬ ‫•‬ ‫‪٠٠‬‬
‫ﻕ‬ ‫‪1‬‬ ‫‪III‬‬ ‫‪٢٠‬‬
‫ج‪1‬‬
‫‪-٢٠‬‬

‫§‬
‫ﻩ‬
‫‪0‬‬
‫‪٠٨‬‬

‫‪iîi‬‬ ‫ا ‪ 6‬ة‬ ‫|‪1‬‬

‫‪ ٢٠‬ؤ‬
‫ادد‬

‫؛‪ 1‬؟‬
‫ﻩ‬

‫‪Iîi‬‬
‫وج‬
‫ة ال||ق‬ ‫‪Й‬‬
‫ه ﺀ و‪.‬‬

‫‪liiîi‬‬ ‫ﻳ ﻢ ﻣر ﻢ‬ ‫‪с‬‬ ‫‪1‬‬

‫ق‬ ‫وق ‪p.‬‬
‫|| ؛ ة؛‬ ‫‪.٠ Z‬‬
‫ﺀ‬
‫‪٠‬‬
‫ده‬
‫ه ق‘‬
‫ﺀ• ﺀ‬
‫ةا‬ ‫‪•S | u‬‬

‫ﺀ‬
‫‪٢٢‬‬ ‫؛؛ ؟‬ ‫و‬ ‫‪٢٢٢٢ ٢٢‬‬
‫ء‬

‫‪104‬‬
 ‫‪II‬‬ ‫ال‬
‫‪•о‬‬
‫ﺡ‬
‫| ‪II‬‬ ‫ﺑﻢ ‪ 0‬و ح‬
‫| ﻗﺆ‬
‫ﺓ | ﺓ‬ ‫ه‬
‫‪Щ‬‬

‫ة‪1‬ق‪11‬ق !‬
‫;‪ед^О‬‬ ‫‪О Я‬‬

‫|‬ ‫ﻕ‬
‫ﻕ | §ﺓ‬ ‫‪ 0‬ئ‬
‫‪ôp‬‬
‫|| ج |‬
‫م‬
‫§‬ ‫ج؟م‬
‫‪3‬إ ص‬
‫‪1!1P ÇO‬‬
‫ﻣﺤﻢ‬
‫‪я.й'^я‬‬ ‫‪я‬‬
‫‪6‬‬ ‫ﻧﺔﻕ‬
‫ﺑﻢ' ﻣﺢ‬

‫ﺀ ﺀ دأ |‬ ‫ق ق‬ ‫‪.‬ص !!‬

‫؟‬
‫ة‬
‫ه‬
‫‪gs‬‬
‫‪ •S‬ق‬

‫‪ 1‬ق |‬

‫ب م‬

‫‪III‬‬
‫‪ II‬ﺀ‬
‫|||‬
‫|إإ‬ ‫‪1‬ة‬
‫|ﺀ ة‬ ‫ؤ وغ‬ ‫وص‬

‫<‬
‫‪:ÏI1‬‬ ‫||ة‬ ‫‪О‬‬
‫— ﻩ‬ ‫‪٧٦‬‬

‫‪I‬‬ ‫ق‬ ‫ق‬

‫ؤ‬
‫ق‬
‫‪о‬‬ ‫‪III‬‬ ‫ج‬ ‫‪о‬‬
‫ه‬
‫‪٥‬‬ ‫‪ООО‬‬
‫‪II‬‬ ‫‪I‬‬

‫م‬
‫‪0‬‬ ‫ﻟﻮ‬
‫ﻩ‬
‫ت‬ ‫ة‬ ‫‪.‬‬
‫ﺀ‬
‫ﺀ‬ ‫‪и‬‬
‫ة‬
‫‪0‬م‬
‫‪b‬‬

‫إأ‬
‫ﺀ‬ ‫ﺀ‬
‫‪٠٠‬‬
‫‪о‬‬
‫‪1‬‬ ‫ﻕ‬ ‫‪b‬‬
‫ق‬ ‫||‬ ‫م‬

‫‪Л‬‬ ‫‪.‬؛‬
‫ؤ‬ ‫‪٥‬‬
‫‪b‬‬ ‫‪I‬‬ ‫‪я‬‬

‫ه‬
‫أ‬
‫ق‬
‫‪b‬‬ ‫ة |ة‬
‫ﺓ‬
‫‪b‬‬ ‫هﺀ‬ ‫؛أ‬
‫‪il‬‬
‫م‬ ‫‪s‬‬ ‫‪ W‬ئ‬
‫‪Ц‬‬ ‫‪•о‬‬ ‫‪ *0‬ﻣ ﻢ‬
‫ﺉ‪ .‬ﻟﻪ‬
‫‪Л‬‬ ‫‪II‬‬ ‫‪N‬‬
‫‪b‬‬
‫‪I I‬‬
‫|ة‬
‫م‬ ‫!‪il‬‬ ‫ح‬
‫‪о‬‬ ‫‪0O‬‬

‫‪٠١‬‬
‫ﺕ‬
‫ف‬

‫‪о‬‬
‫ﺀ‬ ‫‪Ii‬‬
‫‪٠‬‬ ‫ج‬
‫‪0‬ه‬ ‫‪00 00‬‬ ‫و‬
‫‪٠‬‬ ‫وق‬ ‫ﻱ‬ ‫‪f‬؟*‬

‫ئ ‪0‬ل‬
 ‫‪о‬‬ ‫ق‬ ‫ﺓ‬
‫‪٠‬‬
‫©‬
‫ص‬
‫ﻧﺖ‬ ‫‪Ô‬‬ ‫‪о‬‬
‫ؤق‬
‫ج‬ ‫‪So‬‬
‫ﻣﺤﻘﺖ‬ ‫ة‬ ‫ﺑﻤﺄ‬ ‫‪b‬‬
‫‪Q‬‬ ‫‪ ٠‬ة؛‪я‬‬
‫ت ه ﺀ‬ ‫‪b١‬‬
‫ت?ا ﻣﺤﺞ‬
‫؛‪1‬‬ ‫ﺀ ﺝ‬ ‫ق ‪1‬‬
‫ة‪1‬‬ ‫ﺏﺀإل‬ ‫‪b‬‬ ‫‪b‬‬ ‫‪I‬‬
‫و | ؤ |‬
‫دا ﺀ داص‬ ‫‪Ü‬ﺽ‪16‬‬ ‫‪È6‬‬ ‫‪и‬‬
‫<‬
‫‪б‬‬ ‫‪О Я о‬‬
‫‪3 0‬‬
‫‪я ،й Я‬‬ ‫‪я‬‬
‫‪I III‬‬
‫‪«٠‬‬

‫‪b‬‬
‫‪llplg‬‬
‫‪б‬‬ ‫‪ 1‬ة| ة‪ 1‬ة‬

‫‪I‬‬

‫©‬ ‫‪ II‬ق‬ ‫‪МП‬‬

‫‪S o‬‬
‫ؤ‬
‫‪о О‬‬
‫ؤ‬
‫©م‬ ‫ﻭ‬ ‫ﻗﻖ‬
‫ﻩ‬ ‫ﻩ‬ ‫‪ M‬ﻩ‬
‫ﻕ‬
‫ﺓ‬ ‫ةة‬ ‫‪O o‬‬
‫ج‬ ‫‪٧١‬‬ ‫‪٧٦‬‬ ‫‪00‬‬ ‫ﺳﺢ‬

‫‪I‬‬ ‫ﻕ؟‬
‫ﺹ ﻕ‬
‫‪I‬‬
‫ل وﺀ‬ ‫‪в‬‬ ‫ﻕ‬
‫ة‬ ‫‪СЛ‬‬

‫‪U h‬‬
‫ة‬
‫‪3‬ﺀ ‪Р‬‬
‫آل ؤ‬
‫ف‬
‫ﺀ‬
‫‪а‬‬
‫ﻅ‬ ‫ق‬
‫‪d‬‬
‫ﻡ‬
‫‪٠٠‬‬
‫ﻕ‬‫إل‬
‫‪g‬ﻩ‬
‫أد‬
‫؛‬
‫‪٠‬‬

‫ا‬
‫ﻗﺞ‬ ‫ﻣﺢ ‪1‬‬
‫| ﺓ‬
‫|ق‬
‫‪ II‬ﺀ‬
‫ؤة ‪i l‬‬
‫ﺹ‬
‫!ﺅﻕ‬ ‫‪II‬‬
‫‪PQ‬‬

‫‪ 1‬أ‪1‬‬
‫وﺀ ص‬ ‫‪я‬‬ ‫ي‬
‫‪. !:‬ﻕ‬ ‫؛أ‬ ‫ﻕ‬
‫|||‪1‬‬ ‫ﺝ ‪II‬‬ ‫ة‬ ‫م ‪1‬‬
‫أج‬ ‫‪-S‬‬
‫ﻩ‬ ‫ﻩ‬ ‫‪d‬‬
‫ﺅإل‬ ‫‪I‬‬
‫|||ق‬ ‫‪W‬‬ ‫؛ ‪N‬‬
‫‪щи‬‬
‫ؤ ‪0‬ل‬
 ‫آ‬
‫إ‬ ‫ة‬
‫ﻩ‬
‫‪JS‬‬

‫أ!‬ ‫أو‬

‫‪ ٧‬ﻭ‬
‫؛ ‪5‬ﻡ‬ ‫!‪îël‬‬ ‫ﺝ ‪٠٠‬‬
‫ﻩ‬
‫§‬
‫ة‪ .‬ص‬ ‫‪f f l Sw. S‬‬ ‫‪II s a‬‬
‫ﺀﻓﻤﻢ‪،‬ةﺀ ﺝع‬
‫د م م‬
‫‪٥٠‬‬ ‫©‬
‫‪О‬‬ ‫ﺡ ﺀ‬
‫‪Р‬ﻫﻪ‬
‫‪ Си о‬آلق‬ ‫ﺀﻟﻪ‬
‫ﺑﻢ‪..‬‬
‫ب‬ ‫‪S‬‬
‫ﺝ'‬ ‫‪г_л‬ﺽ‬
‫‪Г7 СО‬‬
‫‪٢٠‬‬ ‫ه ‪٠‬‬ ‫©‬ ‫ق‬
‫ص ‪00‬‬
‫ﺹ‬ ‫‪ ٠٠٥‬ﺏ‬ ‫ﻣﻢ‬ ‫ﻩ‬
‫ﺽ‬
‫‪,'СО‬‬
‫|ة ‪-‬ﻣ‬
‫ﻩ‬ ‫‪о‬‬ ‫ﺀ‬
‫‪ о‬ﻳﻢ ن‬ ‫ﺢ‬
‫‪٣١‬‬
‫ﺝ‬
‫‪S “5 M‬‬
‫ق|ق‬
‫‪٠٠‬‬ ‫ﻩ‬
‫‪|.‬‬
‫‪٢ ٠-‬‬
‫‪III‬‬
‫ﺀه‬
‫‪| ill‬ق‬
‫‪M ’S‬‬
‫•§‬ ‫ق ‪6‬‬ ‫ق|ة‬
‫ﻭ‬ ‫‪и‬‬ ‫‪и‬‬ ‫ﺀ‪،‬‬

‫‪٢٠‬‬
‫ﺡ‬
‫‪٢٠‬‬
‫ج‬
‫‪H‬‬

‫ﺓ•ﺉﻭ‬ ‫ق ‪٠٠‬ﻟﻪ‪٠٢‬‬
‫ق‬ ‫مم‬‫©ﺫ‬
‫‪00‬‬
‫ﺹ‬
‫‪со‬‬
‫‪d‬‬
‫قﺕ‬

‫!‬ ‫ق‬
‫ق‬ ‫ق‬ ‫‪I٠‬‬ ‫ق ق‬ ‫ﻣ ﺢ ‪|I‬‬
‫‪2‬‬ ‫‪b‬‬ ‫ﺓ‬ ‫ﻩ‬ ‫ﺓ‬
‫‪2‬‬ ‫‪2‬‬ ‫;‪Z 2‬‬

‫ئ‬ ‫ﻣﻢ‬
‫‪I‬‬ ‫ﻭﻩ‬
‫ئ‬
‫و‬
‫№‬
‫ﺀ‬
‫ة‬
‫‪٥٠‬ﺀ‬

‫‪S‬‬
‫ه‬

‫‪٠٠‬‬ ‫ه‬
‫ئ‬
‫§‬ ‫م‬ ‫‪1‬‬
‫ح‬ ‫ئ‬
‫ﻡ‬
‫‪IL‬‬
‫ص‬ ‫‪٢٦‬‬
‫د‬

‫إ‬
‫ه‬ ‫ﻓﻪ‬
‫ﺑﻤﻢ‬
‫‪1‬ص‬ ‫‪H‬‬
‫أ‬ ‫ص‬
‫§‪S‬م•‬
‫ؤ‪I‬‬ ‫‪M‬‬

‫‪il 1،‬‬
‫‪ 1‬ا‬
‫ه‬ ‫‪٦‬د‬
‫‪٢‬‬ ‫ح ‪0‬‬
‫ﻩ‬
‫ق ‪6‬‬
‫ا§‬
‫ؤؤ‬ ‫‪T3‬‬ ‫ق‬ ‫ﻡ‬

‫‪1‬إإ|‬
‫وص‬ ‫‪13‬‬ ‫ﻡم‬
‫ﻡ‬
‫‪1‬ئ!ق‬ ‫؟‪ ٥٠٢‬ﺀ‬
‫ق‬ ‫‪0.‬‬
‫ؤ‪.‬‬
‫ﻭ‬

‫حمﺎﻭ‬
‫ﻉ ﻩ•‬ ‫‪٤‬‬
‫‪I‬‬
‫‪ 1111‬ة‬ ‫ج‪:‬‬
‫‪So‬‬
‫ال ‪S‬‬
‫‪I‬‬
‫وق‬ ‫‪О‬‬ ‫‪٠١‬‬ ‫‪(N Ы‬‬ ‫و‬
‫‪ill‬‬ ‫‪:‬‬

‫‪٠١‬‬
‫م‬
‫ة‬
‫‪٢٢‬‬
‫أﺀ‬

‫?‪10‬‬
 ‫‪л‬‬ ‫‪٢٠٠٠‬‬

‫ص ‪٧٦‬‬

‫‪о‬ص؛‬
‫‪о‬‬
‫ح‬ ‫ﺅ‬
‫أ ﺀ‬
‫‪ ТЗ‬م‬ ‫ج و•‬

‫‪s-a.‬‬
‫إ § ﺀ‬
‫ﺡ؛ﺵ‬ ‫‪Яр‬‬
‫‪К‬‬
‫ؤة‬ ‫‪ С‬ﻭﺀ‬ ‫‪о‬‬ ‫‪| .‬‬

‫' ‪ o‬ت‪.‬‬
‫‪Q‬‬
‫‪٠١‬‬ ‫‪Ô‬‬
‫‪٠‬‬ ‫‪40‬‬
‫‪i t t‬‬ ‫ه‬
‫ه‬

‫؛ !‬

‫!إ‬
‫‪С‬‬ ‫‪S w‬‬
‫‪ci‬‬ ‫ج‬ ‫‪Й‬‬
‫م‬ ‫‪О О О‬‬ ‫ﺀؤ‬
‫‪W ГМ‬‬ ‫ص‬
‫|ﻭ‬ ‫ﺀ■‪١ ٥‬‬
‫•وي‬ ‫‪٠١٠‬‬
‫‪٤‬‬ ‫ص‬

‫م‬
‫||‬ ‫ة‬
‫ء ه‬
‫‪I‬‬ ‫‪tu‬‬
‫و مﺀ ‪Л‬‬ ‫‪، и‬‬ ‫ﺛﺬ ﻕ‬
‫ﺓﻗﺎﻫﻆ‬ ‫ﻗ ﻘ ق‪1‬‬ ‫‪-‬‬

‫دو | ﻕ‬
‫ﻗﻢ ت‬ ‫ؤ ؛‬

‫‪C9‬‬
‫‪0‬‬ ‫ﻛﻖﺀ‬ ‫ة‬
‫‪я‬‬

‫‪Ü‬‬ ‫‪6‬‬ ‫ق ج‬ ‫!ﺓ‬

‫ل‬

‫ق‬
‫‪я‬‬ ‫ج‬ ‫‪я‬‬ ‫ئ‬ ‫‪ь‬‬

‫ه ‪ 6‬ق | ‪66‬‬
‫‪II‬‬ ‫ا ة‪ 11‬ة‬
‫• ؛‪S O SЙ' S‬‬

‫|ﻣ ﻖ‬

‫‪11‬‬ ‫‪1‬‬ ‫ق‬

‫‪b‬‬ ‫‪b‬‬ ‫‪О‬‬ ‫ة‬

‫‪٣٦‬‬ ‫ب‬ ‫‪٠‬‬

‫‪I‬‬ ‫ﺑﺂ ة‬
‫ق‬

‫هج‬
‫‪я‬‬

‫ج‬
‫‪Я‬‬ ‫!‬ ‫‪ 1‬أ |إ‬
‫‪•О‬‬
‫‪٠٠‬‬

‫ه ﺀ‬ ‫ﺀ‬ ‫‪Ы‬‬
‫‪ÇQ‬‬
‫ﻟﻪق‬ ‫|‬ ‫ﺍ‬ ‫|ة‬ ‫ص مﺀ‬
‫‪я‬‬
‫‪я‬‬
‫‪I I‬ﻩ‬ ‫ه‪:‬‬
‫ﻧﺤﻒ‬

‫‪b‬‬

‫‪яЯ‬‬
‫‪■у Я‬‬

‫‪•so.‬‬
‫‪I‬‬ ‫ق ؤ‬

‫‪ 0‬ة•‬ ‫ﻡﺓ‬
‫‪S Z‬‬
‫‪I‬‬

‫أ‬
‫‪я‬‬ ‫‪я‬‬

‫و‬

‫‪108‬‬
 ‫ج ‪сЗ‬‬
‫‪о‬‬
‫‪SI‬‬
‫‪٥‬‬ ‫‪٥‬‬
‫‪Js‬‬
‫ة‪ .‬ه‬
‫ئ‬ ‫‪H‬‬

‫ج ‪٤‬‬
‫‪ss‬‬
‫؛ ؛ • ‪о ta‬‬
‫‪й Йй‬‬ ‫ق‪I‬‬
‫» » ة‪.‬‬ ‫‪II‬‬ ‫‪и‬‬

‫§‬
‫ﺀ‬ ‫وص‬ ‫يم‬ ‫•‪ ٠‬ﻣﻮ‬
‫ج‬ ‫©‬
‫ج‬
‫‪-‬‬
‫©‬
‫‪°‬‬ ‫حم|ﻡ‬
‫|ﻕ‬ ‫‪٢٢‬‬
‫ئ ة‬
‫| أا^‬
‫‪1‬‬
‫&‪S‬‬
‫© ﺀ‬

‫ج ‪6‬‬
‫ة‬
‫‪6‬‬
‫‪III‬‬ ‫ه‬
‫‪Ü‬‬
‫ﺇ‬ ‫ه ﺀ‬ ‫‪М‬‬
‫ة ) | ﺀ ة ﺀ ة ال‬

‫!‬ ‫ﺓ‬
‫ﺩﺓ‬
‫ﺀ و‬
‫ﻧﻢ ج‬ ‫‪SS‬‬
‫ه‬
‫ﺩ‬
‫إا‬
‫وه‬
‫‪Я‬‬

‫;^ ‪٠‬‬
‫أ ﺀو‬ ‫‪I‬‬ ‫‪I‬‬ ‫‪I‬‬ ‫| |‬ ‫ﻕ‬ ‫ع‬ ‫ق ‪I I‬‬ ‫‪I‬‬
‫‪о‬‬

‫ﺓ‬ ‫‪0‬‬
‫‪00‬‬ ‫‪٠١‬‬

‫<§■‬
‫ج‬
‫ﻩ‬
‫ة ه‬ ‫ج■‬
‫ج‬

‫ﺓ‬ ‫‪٦٩‬‬
‫ه‬

‫‪СЗ‬‬

‫‪ÜH‬‬ ‫©‬ ‫ص‬

‫‪я‬‬
‫©‬
‫‪1‬‬ ‫ة‬ ‫‪сЗ‬‬
‫§ق‬
‫ة‬ ‫ظ‬
‫ﺗﺔ‬ ‫ة‪.‬‬ ‫ن‬
‫‪сЗ‬‬
‫ه‬

‫ﺓ‬

‫ﺻﻢ‬
‫‪I‬‬

‫‪١٠٢٠٢‬‬
‫‪٠٠‬‬
‫©‬

‫‪٢٢‬‬
‫إ|إ‬ ‫'‪!*S‬‬

‫‪٧١‬ﻭ‬
‫دﺀص‬
‫‪11‬‬

‫‪٧١‬‬
‫‪٧١‬‬

‫‪109‬‬
 ‫ال ظ‬

‫‪I‬‬
‫>م‬

‫ق ﺀ‬
‫‪о‬‬ ‫‪00‬‬
‫و‬
‫‪о‬‬

‫إ‬ ‫‪liîife‬‬
‫‪٠٠‬‬ ‫‪ь‬‬
‫‪С‬‬
‫!‪f‬‬ ‫ه‬ ‫ﺀ‬ ‫ﺅ‬
‫‪i‬‬ ‫ﺍﻗﻘﺎﺍﻕ‬ ‫‪٧‬‬ ‫‪61‬‬ ‫‪٧‬‬ ‫‪ ٧‬لا‬
‫ﻭ‬
‫‪٠٠‬‬
‫‪С‬‬
‫‪٢٠‬‬
‫اأ‬
‫لآ‬ ‫‪٢٠‬‬ ‫‪О‬‬
‫ﺀ‬ ‫‪۵‬‬

‫ﺓ‪-‬ﺝ‬
‫أ ! ه‪1‬‬
‫‪I‬‬ ‫|ق|ق‬ ‫ﺀﺀ‬
‫‪S‬‬

‫إق |‬ ‫|‬ ‫ﻕ‬ ‫‪М‬‬ ‫ق‬ ‫‪I‬‬

‫«‬
‫ﺓ‬ ‫ﺓ‬ ‫‪I‬‬ ‫‪٠‬‬ ‫ه‬

‫ق ‪ 1‬ة‬ ‫‪ 0‬ئ‬

‫دؤ■ ﻳم ‪٠٠‬‬ ‫ق‬ ‫ﺓ‬

‫ة|‬
‫س ‪8‬‬
‫‪I‬‬
‫ﻟﻪ‬ ‫‪٠‬؛‬

‫إ‬
‫‪٠٠٠‬‬
‫‪о‬‬
‫‪٠‬ﻩ‬
‫ﺓ‬
‫و‬ ‫‪1I‬‬ ‫‪if‬‬
‫ةاا‬
‫‪I ٢٠‬‬ ‫‪и‬‬
‫‪о‬‬
‫ﻗﻮم‬ ‫‪О‬‬

‫ي‬
‫‪II‬‬
‫ذم‪،‬‬

‫ﻕ‬
‫‪IÎ1 J‬‬ ‫ق‬ ‫ج‪،‬‬ ‫ﺓ‬ ‫‪0‬‬ ‫ﻕ‬ ‫دا‬
‫ق‬
‫‪О‬‬
‫‪gs‬‬
‫‪II‬‬
‫‪٠,‬‬
‫‪٠٢٠ ٠‬‬ ‫د‬
‫>‬ ‫||‬ ‫ﺡ‬
‫ﺀ‬
‫ﺀة؛‬
‫‪lÎP i‬‬ ‫اق ‪0‬‬ ‫‪ :‬ﺀ‬

‫‪110‬‬
 ‫‪I‬‬
‫‪t‬‬

‫| آل‬
‫‪II‬‬
‫ﻟﻮ د‬
‫ﻣﺎ ؛م‬

‫ج‬

‫‪I‬‬

‫ﺀﺀ‬

‫ق ة‪.‬‬
‫ﺩ‬
‫ﺹ‬
‫س‪W‬‬
‫لآ‬ ‫‪Со‬‬
‫>‪a‬‬ ‫ه‬ ‫ﺀ‬
‫‪I‬‬ ‫‪-p‬‬

‫‪11‬‬
‫ئ‪.‬‬ ‫ﻟﻮ م‬

‫« ا!‬
‫‪5‬‬

‫ث ‪I I‬‬ ‫إ|‬ ‫مم ﻟﻪ‬

‫‪Л‬ﺀ ب‬
‫ص‬
‫ة‬ ‫‪'Il‬‬
‫‪О Vi‬‬
‫^ ‪to‬‬

‫‪C‬‬ ‫‪Й‬‬ ‫ﺩ ﺩ‬
‫ص ‪S‬ﺩ‬
‫ص ﺩ‬ ‫?‪٢١‬‬
‫ﺩ‬
‫‪c‬‬‫‪i‬‬
‫يم‬ ‫يم‬
‫« ءص‬
‫ص‬
‫يم‬ ‫‪I‬‬ ‫ة‪а‬‬ ‫‪I‬‬ ‫‪I‬‬ ‫‪I‬‬ ‫صﺀ‬
‫ﺛﻖ‬‫ق‬

‫!‬
‫أ‬
‫ئ‬ ‫ق‬ ‫دﺀ‬

‫‪I‬‬ ‫‪я‬‬ ‫‪3‬‬ ‫‪я‬‬

‫ﺀ‬

‫‪I‬‬ ‫ه‬

‫‪.‬ا‬
‫و‬ ‫ص‬

‫|‬
‫‪I‬‬
‫)‪W‬‬

‫!!؟ ‪I‬‬
‫ﺓﻕ‬ ‫ة‬
‫‪и‬‬ ‫‪■S‬‬

‫‪i I‬‬ ‫‪I‬‬ ‫ة‬

‫ﻟﻪ‬

‫‪Щ‬‬
‫ع‬

‫ﻩ‬
‫ة ي‪.‬‬ ‫ﻅ‬
‫!‬ ‫ة‬ ‫‪s‬‬ ‫‪٠٠‬‬
‫‪I‬‬ ‫‪I‬‬
‫‪I‬‬
‫‪Z‬‬ ‫‪я‬‬ ‫و‬ ‫‪св‬‬
‫ﺀ‬
‫‪N‬‬ ‫‪Щ‬‬
‫ﺀ‬
‫إ‬ ‫*‪p‬‬
‫‪I‬‬
‫ﺩ‬ ‫ق‬ ‫ﻟﻞ‪،‬‬
‫‪ 8‬ة‬ ‫ق‬ ‫‪٤‬‬
‫‪ill‬‬ ‫‪I I I‬‬

‫وج‬ ‫‪00‬‬
‫‪ II‬إ‬ ‫‪00‬‬
‫‪*I II‬‬
‫‪ON‬‬
‫‪00‬‬
‫ة‬

‫‪ON‬‬
‫ن‬
‫ص‬

‫‪ON‬‬
‫ق‪ ،‬ﺗﻲ‬

‫ق‬
‫‪ON‬‬
‫‪я‬‬
‫‪٠٢٢‬‬
‫‪ON‬‬ ‫‪ON‬‬ ‫‪ON‬‬ ‫‪ON‬‬ ‫‪ON‬‬
‫ﺃ‬
‫‪ON‬‬
‫‪٧٦‬‬ ‫‪٧٦‬‬ ‫‪٧٦‬‬ ‫‪٧٦‬‬

‫ﻟ ﻞ‪1‬‬
 ‫|ق‬

‫ﺀ و‬
‫‪II‬‬
‫إل‪.‬‬
‫‪I‬‬
‫‪;i‬‬ ‫‪a i‬‬

‫‪gi‬‬ ‫‪s‬؟؛‬
‫و‬

‫ض‬
‫ق‬ ‫‪I‬‬ ‫‪I 1‬‬ ‫‪сЗ‬‬
‫ة‬

‫؟‪3‬ﺛﻪ‬
‫‪со‬‬ ‫‪со‬‬
‫‪H‬‬ ‫ﺝ‪.‬‬
‫‪d‬ﻡ‬
‫ص‬
‫ﻟﻢ‬
‫ح‬ ‫ﻩ‬ ‫؟‬
‫‪СЗ‬‬
‫‪٠٥‬‬
‫‪1‬‬
‫©•‬
‫ﻩ‬
‫ﺹ‬
‫| ﻕ‬
‫‪0‬‬
‫‪ *O‬ؤ‬ ‫‪сЗ‬و‬ ‫م‬
‫|آل‬ ‫‪1‬‬

‫إ!‬
‫ق‬
‫‪*§0‬‬
‫ق‬ ‫ة|‬
‫ﺀ‬ ‫‪Р‬‬
‫‪٢١‬‬
‫‪I‬‬
‫"ة‬
 ‫ﻣﻨﺜﻮ دات ا ال م ا ﺳﺪ ؛‬ ‫ﻛﻴﺂ اﻟﻌﺼﻮل ﺻﻞ‬
. ‫ﺗﺎ ز‬ ‫ﻟﺨﻲ‬
‫ا ﻇﻢ ﻣﻬﺎ ن اﻟﻜﻤﺔ ا‬ JUI.‫ ؛ط‬-‫ا‬. ‫اسش ا ﺗﺠﺎتدددد ا ﻟﺘﺪذع ؛ ﺻﻊ‬ ‫ﺳﻜﻦ ا ﻟﻤﺮ دضﺷﺘﺪرات‬
‫ا الم‬
‫ ﻋﻪ ادض ﺟﺪ‬.‫أد ا ﻛﺒﺎﻟﻰ ' ا ﻣﺺ ؛' ﻟﻢ اﻳﻊ ﻣﻨﺢ‬

HOW т о OBTAIN UNITED NATIONS BUBUIUATIONB

U n ited N etien^ publications m ay be o b ^ in e d from bookstores and d istributors
throughout th e world. U onsult your bookstore o r w rite to: U n ited N ations, ^ales
^ c U o n , N ew Y ork or Geneva.

COMMENT SE PROCURER UES PUBLICATIONS

‫ل‬ NATIONS UNIEB
L es publications des N a tio n s U nies so n t en vente dans les librairies e t les agences
dépositaires d u m onde entier. Inform ez-vous auprès de votre libraire ou adressez-vous
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ваш ем кн иж н ом м а га зи и е или и и т и т е по а д р е с у : О р га н и за ц и я О б ъ ед и н ен н ы х
Н а ц и й , О екц и я п о п р о д а ж е и з д а н и и Н ы о -И о р к и ли ^Е еи ева.

COMD CONSEGUIR PUBLICACIONES DE LAS NACIDNES UNIRAS

L as publicaciones de las N aciones U n id as e stén en venta en librerias y casas distri-
buidoras en todas p a rte s del m undo. Consulte a su librero о dirljase a: N aclones
U nidas, Secci6n de Y entas, N ueva York о G inebra.

Printed in S w it^rland P rk e : $u.s. 6.00 United N ations pnbli«ttion

GE.75-46012(5636) (or equivalent in other currencies) Sales N o.: E.75.II.D.13
September 1975—3,405