Under Pitt’s Act the directors of the English Company were allowed to superintend their shipping and matters of commerce as before, yet the Board of Control exercised its influence both in England and India. Each year the Company settled the number of ships to be built and their sizes. For instance, in 1784, as they saw that at least four more ships would be required, they ordered six to be built. The keels were to be laid down within six months, and the ships were to be launched within twelve months of the laying of the keel. The following year they decided to have three sets of shipping with about thirty ships in each class, so leave was given for eight ships to be built. Tenders were therefore advertised for in January 1786, much to the indignation of the owners, who complained that this advertisement was directed against their interests. They denied that hitherto their rates for freight had been exorbitant, and protested that they had embarked on immense shipbuilding programmes expressly for the Company’s benefit. The Company therefore replied, inviting them to send in tenders, which was done, the same rate being offered as in the preceding season—viz. £26 a ton to China direct, £27 for coast and China, Bombay £28, coast and bay £29. On 9th June of that year a tender was offered the Company to build a 1000-ton ship at £22 a ton for the first two voyages, and £20 for the third and fourth voyages.
Up till the year 1789 the size of the Company’s recent big ships had been from 750 to 800 tons. But in this year it was decided to build five ships of from 1100 to 1200 tons. The following May the Court resolved that from past experience ships could quite well make three voyages without stripping off their sheathing. And, further, those ships which had been accustomed to make the fourth trip their repairing voyage might with perfect safety perform even six voyages. A by-law of 1773 had restricted the employment of ships for more than four voyages, but this was now modified, and instead of four voyages agreements were entered into with the owners for the ships to run six.