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LLOYD SABAUDO

FOREWORD

 

The outcome of the Mediterranean Conference held in Florence in 1906 was favourable to the Italian shipping lines, who obtained a larger share of the passenger trade from Italy to America. As a consequence, a few Italian entrepreneurs decided to enter the lucrative migrant trade. The most important of these new companies was the Lloyd Sabaudo, founded in Turin in that same year of 1906, with Genoa as the port of operation and of registry of their ships. The birth of the Lloyd Sabaudo caused concern among the existing Genoese shipowners, particularly Navigazione Generale, who immediately realised that the new company would be a serious competitor. As its name suggested, the Lloyd Sabaudo (“Lloyd of Savoy”) had Royal connections: it was financially supported by the Duke of Aosta’s branch of the House of Savoy, the Italian Royal family. NGI soon realised that their aggressive tactics against their competitors could hardly be used against the new company with its strong connections with the central power in Rome. The debt incurred in starting the company and in creating its fleet and the effects of the Great War meant that the early years of operation were critically difficult for the Lloyd Sabaudo but by the ‘Twenties it was growing rapidly. It absorbed the Cosulich group of Trieste which, in addition to the “Società Triestina di Navigazione” (the Cosuich Line) and the “Lloyd Triestino”, also included the Monfalcone shipyards and had a controlling interest in the San Marco and San Rocco yards and the “Fabbrica Macchine Sant’Andrea”, an engine-building concern, all of which were based in Trieste and had been very active since the mid-XIX century.

In 1932, the Lloyd Sabaudo and its Cosulich Line subsidiary were, together with the NGI, absorbed by the new national shipping company, Italia Flotte Riunite. It should be noted, however, that in the case of the Lloyd Sabaudo this was not a rescue operation: the company was one of the very few transatlantic lines to maintain a positive balance sheet after the worldwide financial crisis of 1929

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NOTEWORTHY SHIPS

LLOYD SABAUDO SHOP