On 18 December 1921 a hurricane damaged the winter lay-up fleet of Great Lakes bulk carriers at Buffalo, New York. Sixty-two vessels were affected. The event had potential to drive up wheat prices because a large quantity of grain was stored aboard laid up vessels. In a rare example of industry-wide collective action, ship owners, insurers, and the Lake Carrier Association quickly salvaged the bulk carriers and their cargoes. The result was a quick recovery that not only maintained a smooth delivery of grain to national and international markets, but also returned all vessels to service in time for the record shipping season of 1922.
|State||Published - Apr 2016|