SHIPPING: Waterlogged

The U.S., which only six years ago was building more ships than all the rest of the non-Axis world combined, is now a poor seventh, just ahead of Germany. So Lloyd's Register of Shipping reported last week, after totting up shipbuilding in 1951's first quarter. The leader: Britain, with 2,072,723 tons under construction. Other top builders: France, Japan, Italy, Sweden, Holland. The U.S., in third place last year, now has only 270,284 tons of shipping under construction.

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