CHARTERING OF FOREIGN VESSELS

• Document Type: CREST
• Collection: General CIA Records
• Document Number (FOIA) /ESDN (CREST): CIA-RDP71T00730R000700010196-9
• Release Decision: RIPPUB
• Original Classification: S
• Document Page Count: 1
• Document Creation Date: December 21, 2016
• Sequence Number: 196
• Content Type: REPORT

Approved For Release 2008/07/18: CIA-RDP71T0073OR000700010196-9
Chartering of Foreign Vessels
Chinese chartering activities in 1959 presented a ates,dier
picture than had been the case in 1958. Although the preponderance
of chartering still took place during the second half of the year,
the peak was lower than in 1958. Most of the 1958 charters had been
showed a
time charters, but in 1959 the Chinese/preference for voyage charters,
often with the option of renewal for a period of months for coastal
operations.
The greatest single grouping of voyages by ships under Chinese
charter originated in western European ports and in Morocco.. These
vessels carried principally chemical fertilizers and steel products
from Europe and phosphates from North Africa. Greece, which had not
taken part in Chinese shipping service between 1953 and 1958, became
a principal participant in 1959.
Total Free-World vessels newly chartered by China in 1959 amounted
to about 200. In addition, time charters of about 114 vessels, which
had been operating under charter in 1958, extended into 1959. Charter
rates did not fluctuate widely during the year, but remained relatively
low. Voyage charters of non-Bloc tankers increased from 2 in 1958
to 9_ in 1959; all voyages took place in the second half of the year.
Approved For Release 2008/07/18: CIA-RDP71T0073OR000700010196-9