Abstract
This chapter studies the transition from war to peace between 1939 and 1948 and its impact on British shipping. The section discussing war is broken into two parts: the change in tonnage rates during the war and the financial fallout of war. It pays particular attention to wartime financial dealmaking, and compares British and Norwegian shipowning during the period to determine that British shipping neither suffered nor profited from the Second World War any more so than other nations. The second part of the chapter evaluates the transition to peace, discovering that British shipowners had learnt to be cautious about replenishing tonnage after the First World War, but by 1948 had successfully regained a strong fleet. The conclusion clarifies that uncertainty surrounding the growth of the industry would increase in the coming years.
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