MERCHANT SHIPPING.

Ashburton Guardian, Volume 60, Issue 257, 7 August 1940, Page 5

MERCHANT SHIPPING.

ASSISTANCE TO BRITISH OWNERS

MANY LOANS ALREADY MADE. (United Press Association. —Copyright.) , (Deceived This Day, 9.45 a.m.) LONDON, August 6. The Minister for Shipping (Mr R. Cross), in an interview, said that the Government {recognised that British merchant shipping has fallen into a deplorable state since the last war. This never should be allowed to occur again, and in the terms of financial arrangements with British shipowners regarding the requisitioning of ships—now made public in a White Paper—the Government tried to envisage assisting British merchant shipping in peace conditions after the war as well as during the war itself. Loans to shipowners toward the,cost of vessels had reached a total of nearly £5,000,000 in respect of 55 ships of a gross tonnage of 239,882, while grants for building new cargo vessels were estimated to affect 64 owners and about 100 vessels. Mr Cross added, regarding the general shipping situation, that not only a large amount of Allied shipping had been released for British use after the German invasion of the Low Countries, but also there had boon liberation of merchant tonnage after the collapse of France balanced the necessity, resulting from the changed sea conditions in northern waters and the Mediterranean for making longer voyages with a larger average run to bring essential goods to Britain. Mr Cross also stated that steady and accelerating progress was being made with the arming of British and Allied merchant shipping.—British Official Wireless.