As with most other shipping companies
Holt's felt the effects of the worldwide slump in shipping between
the two World Wars which brought about setbacks and losses.
But the company maintained its traditional stance and survived
where other companies failed. The White Star Line was absorbed
into the Cunard group and lost its famous identity after 64
years, whereas, Holt's bought out its old rival, Glen Line and
allowed the company to retain not only its name, livery and
house flag but also a degree of independence.
The depression of the 1930's claimed some 23% of Britain's shipbuilding
capacity but, through caution and prudence, Holt's were able
to withstand the slump better than most companies. With a degree
of optimism the management actually set about planning for the
future prosperity of the company but the fruits of their labours
would not be seen until after the Second World War.
The war years exacted their toll and more
than half the fleet, over 40 ships representing nearly 350,000
tons, was sunk either around the coast of Britain or in the
international shipping lanes. On 3rd May 1941, the historic
India Buildings in Liverpool were virtually destroyed by high
explosive and incendiary bombs and it was not rebuilt until
1958.
With the diminished fleet temporarily reinforced
with some American Victory and Liberty ships, on the cessation
of hostilities, Holt's quickly returned to peacetime trading
and Ocean Steamship Company soon regained its place as the leading
carrier of freight between Europe and the Far East.
The last Holt to manage the company was George,
appointed in 1950. A fourth generation Liverpudlian he was the
son of Richard and Lawrence's brother, Philip, who was, like
his father, a cotton broker. George was to see the company go
through major changes and its eventual demise as an independently
owned shipping company.
George Palmer Holt
Being primarily a freight carrying shipping
company Holt's were fortunate enough not to suffer in the same
way that the passenger fleets did on the arrival on the scene
of the jumbo jet. The mass carriage of people by air killed
the liner trade and heralded the end for most of the well known
passenger fleets. Only those which foresaw a demand for cruising
within the leisure industry, as did P&O and Cunard, survived.
It is ironic, however, that the last of the true Holt vessels
was a passenger/cargo liner. The Centaur, a 20 knot 8,200grt,
specialist ship built to carry 200 passengers in superior accommodation,
4500 sheep or 700 cattle, liquid and refrigerated cargoes sailed
from Liverpool in January 1964 to join the Australia service
to Singapore.
However, the 1960's saw the British shipping
industry undergoing major changes. The closure of the Suez Canal
as a result of the conflict between Egypt and Israel meant that
the oil tankers from the Gulf had to travel round the Cape of
Good Hope once again. Ship technology had advanced to such a
degree that huge supertankers were being built to carry huge
quantities of oil at competitive prices. This led to the evolution
of the Very Large Cargo Carrier (VLCC), the container ship.
The investment in these huge vessels was immense
and generally beyond the balance sheets of even the largest
independent owners. Consequently, rationalisation, consolidation,
grouping and the formation of consortia was the only way forward.
Three years after the Centaur sailed for Australia and just
over 100 years after Alfred Holt formed the Ocean Steamship
Company, the company was taken into the Ocean Trading &
Transport Group. Holt's lost its individual and distinctive
identity and there was no longer a Holt managing the company
but the ships continued to sail the world with their traditional
blue funnels and the Alfred Holt houseflag.
The famous Blue Funnel and Alfred Holt
houseflag live on as a memorial to a historic shipping company
and a 'reliable line of steamers'.
For a more detailed
history, read - Ships in Focus : Blue Funnel
Line
by John Clarkson
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