ABSTRACT

In 1915 and 1916, nearly one half of the total tonnage engaged in the trade of the UK was flying foreign flags. The Northern Neutrals, comprising the three Scandinavian countries, accounted for a large share of the neutral merchant fleet. A new set of detailed regional freight rate indices covering the period 1910–1920 provides the basis for comparing earnings from different trades during the First World War. This article shows that the UK authorities directed neutral tonnage into routes that were more hazardous but also much less remunerative than alternative trade routes in Asia and America. Thus, the price of neutrality comprised both loss of tonnage and foregone freight earnings for Scandinavian shipping. The new data series also form the basis of a discussion of how the wartime shipping controls created economic inefficiencies by distorting the shipping trade.

摘要

在 1915 年和 1916 年，英国从事贸易的总吨位中有近一半是悬挂外国国旗的。由三个斯堪的纳维亚国家组成的北方中立国占中立商船队的很大一部分。一组涵盖 1910 年至 1920 年期间的详细区域运费指数为比较第一次世界大战期间不同行业的收益提供了基础。这篇文章表明，英国当局将中性吨位引入了比亚洲和美洲的替代贸易路线更危险但回报也低得多的路线。因此，中性价格包括斯堪的纳维亚航运的吨位损失和放弃的运费收入。