Mr. YOUNGasked the President of the Board of Trade what percentage of the world's mercantile marine has been withdrawn from the main trade routes by the internment of German transport; and what is the estimated increase in the cost of shipping caused by this internment?
1921W
Mr. RUNCIMANGerman mercantile marine tonnage is approximately 10 per cent of the tonnage of the world, and Austro-Hungarian tonnage 2.2 per cent. A certain proportion of this tonnage is being used by ourselves and by our Allies. I am afraid, it is impossible to give any useful estimate of the effect which the withdrawal from service of a stated proportion of the world's tonnage might be expected to have on the cost of shipping, or freight rates.
Mr. YOUNGasked the President of the Board of Trade what is the most recent estimated ratio of advance in freight rates as compared with the rates immediately prior to the War?
Mr. RUNCIMANI regret that it is statistically impossible to furnish any satisfactory estimate of the advance in freight rates in averages since the outbreak of war.