SHIPBUILDING DEPRESSION.

Auckland Star, Volume LVII, Issue 135, 9 June 1926, Page 8

SHIPBUILDING DEPRESSION.

The shipbuilding returns of- Lloyd's register for the first quarter of the year continue to indicate the severe depression through which the industry is passing. The total number of vessels under construction was 21S, with an aggregate tonnage of 843,070 tons, which compares with 217 and 55.5,013 tons for the previous quarter, and 2SO and 1,105,468 tons for the corresponding three months lust year. The present totals are tlio lowest recorded since September, 1009. While it is true that the depression has been world-wide in its influence, it is to be feared that British shipbuilding has suffered to some extent from foreign competition, as is shown by the fact that the merchant tonnage building in other countries, kt 1,107,130 tons, was only about 17,000 tons lower than at the end of December, 1925. The gloomy outlook presented by these figures is, however, somewhat relieved by the fact that the new tonnage on which work was started during the quarter was greater, at 193,121 tons, by 32.325 tons than the total for the previous three months, representing an increase of 20 per cent, a fact which, it is to be hoped, indicates that the worst point of the depression has now been passed. Indeed, there are distinct signs of a revival in industry generally, which should continue, provided that a satisfaot6ry solution is found to the coal problem, and from the advent of better trade shipbuilding should in due course reap the benefit.