Greek shipowners imposing several Liberty ships according to the Dutch newspaper Het vrije volk dated 19 August 1957

Liberty EC 2 design cargo ship

An item reported that freight prices in tramp shipping still increases reaching such low level that Greek shipowners at London, England decided to impose ten Liberty ships. With an index figure in June lowered from 10.9 tot 101.8 it was to be expected that American companies would follow the example of their Greek colleagues and to take a large number of Liberty ships out of service. Possible were several ships doomed to be broken up while scrap prizes were still high. With an overheated freight market was this a logical decision. The Trans-Atlantic rates had dropped to a level 30% below the medium costs of Liberty ships had to compensate before becoming profitable.