The Growth of the Shipping Interests, 1910-1919
The Growth of the Shipping Interests, 1910-1919
This chapter examines the growth of the Furness Group’s shipping services between 1910 and 1919, as world trade, shipping values, and freight rates escalated after a brief slump. It charts the wave of acquisitions during the period, and considers the expansion of the Furness Group within the context of the industry-wide changes taking place. It offers an overview of the Furness Group’s performance, followed by an overview of their expansion strategy. Next, it focuses on the purchase and reconstruction of five financially weak firms between 1910-1912. It continues with development and expansion of South American trade. Further competitive difficulties arose between the Furness Group, International Mercantile Marine, and Canadian Pacific Railroad, including expansion efforts in New York and Rotterdam and related wartime developments. It concludes that in contrast to Furness’ promotion efforts at the beginning of the century, no new shipping subsidiaries were floated during this period, so capital gains were not realised as shipping values rose.
Keywords: Shipping Acquisitions, Argentine Steam Navigation Company, South American Shipping, North American Shipping, International Mercantile Marine, Maritime Rotterdam, Canadian Pacific Railroad, Maritime Warfare
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