FREIGHTS UP.

Auckland Star, Volume LXIV, Issue 17, 21 January 1933, Page 11

FREIGHTS UP.

SHIPPING COMPANIES' ACT. PASSAGE MONEY AFFECTED. (By Telegraph.—Press Association.) WELLINGTON, Friday. The overseas shipping companies announce an advance from 10 per cent to 25 per cent on the freight of all refrigerated cargo by way of a surcharge of 15 per cent, payable by shippers in addition to the freight, commencing this day.

On loadings actually commenced prior to January 20, no exchange surcharge will apply on refrigerated cargo, but the surcharge will take effect when such vessels are loading at the next port. The companies also announce an increased rate on general cargo from 10 per cent to 25 per cent, and a similar increase on the passage money paid in New Zealand, operative as from to-day, and subject to fluctuations in the rate of exchange. COST TO INDUSTRY. Last July the Dairy Produce Board and the Meat Board, in conjunction, decided that in the event of any increase in exchange the industry would have to pay the increase in the telegraphic rate of exchange over and above 10 per cent as it affected freights. Up to the present the shipping companies had been absorbing the exchange under the existing contracts. The total amount paid by the board for freight is in the neighbourhood of £1,250,000, and, as by far the largest proportion is remitted to London by the shipping companies, they claim that exchange has been a heavy burden. Under the new rates of exchange the increase in freight will amount approximately to G.l2d a box of butter, and 17.856 d a crate of cheese, of an average of 1601b. On a year's export this would amount to £208,000.