Hungaro-Croatian Freeshipping Co. Ltd., 1900-1920

Following the the turn of the century and after laws initiating tramp shipping and purchase of new vessels had been enacted several new freeshipping companies were established. One of them was the Fiume based Hungaro-Croatian Freeshipping Co. Ltd. On board of the company's vessel mainly fiumanos and dalmatians worked and the board of directors showed the same picture, too This was the case in spite of the fact that Hungarian government spent great sums on companies contracted with the state.
The company suffered losses during its operation, for example its steamer, the ZVIR, sank near Australia in 1902, then in 1903 s/s KLEK went under in the Indian Ocean. After the war, multinational citizens of Fiume hoped that their town would receive a free town status, which would have been favourable not only for the Budapest based companies but also for local companies, became soon dissapointed. Between rivals, the newly formed Slovenian-Croatian-Serbian Kingdom and the Italian Kingdom, bloody struggle broke out for the possesion of the city. Susak at the eastern side of the Fiumara river with the Baross dock became part of the new South-Slavian state, whereas the western side of the river belonged to the Italian Kingdom. The remaining freighters of the former Hungaro-Croatian Freeshipping Co. raised the Italian flag first and were owned by the Ungaro Croata Libera S. A. company which became Italian in the meantime, then later in 1924 changed their names, registered in Susak got under controll of the new Slavian state.

József Horváth: What happens to you Hungarian sea navigation? Aqua Magazin, vol. 18., 2001.