MORE SHIPS.

Auckland Star, Volume LV, Issue 171, 21 July 1924, Page 6

MORE SHIPS.

CONSTRUCTION IN ENGLAND IN SPITE OF DEPRESSION. Tlip pessimistic views expressed regarding the immediate future of shipping arc scarcely borne out by the latest shipbuilding returns. Figures issued by Lloyd's Register show a total of nearly li million tons of new shipping under construction, and this in spite of the fact that on April ' 1 last nearly half a, million tons of British shipping was indefinitely laid up. A distinction must be made, however, ; between the apparent, prosperity as evidenced in the shipbuilding yards and the "lean" times referred to in the annual reports of most of the big shipping lines. I Much of the new tonnage under con- j struction has been made possible only i by the easy money made available to shipbuilding firms under the Tradee Facilities Act. Jn a sense, the British Government is subsidising the shipbuilding industry which is thus turning out an increasing quantity of new tonnage nn to a market already congested. In its last annual report, the White Star Company ascribed the disappointing results of the Australian trade in largo measure to an "oversupply of tonnage," nml yet new and larger vessels- are already building or projected for the trade. Three new Orient liners of 20,000 tons paeli are now under construction; a great new motor ship, the Aorangi, is nearly ready for delivery to her owners, the Union S.S. Co. The Commonwealth and Dominion line has recently ordered two new motor liners and the P. and O. Co. is proceeding steadily with its programme. The White Star Co. itself will probably soon be contemplating the replacement of its vessels in the Aus- j tralian trade, four of which are all more I than 20 years old. Tt is possible that j four modified Ceramics may be constructed in lieu of these vessels. Unemployment among ships is as rife os unemployment on shore, and all that the shipping industry requires to restore its vitality is work to do. There are signs that the zero point lias been reached and that a slow but steady improvement may he looked forward to. I