CARGO FREIGHTS.

Auckland Star, Volume LXIV, Issue 204, 30 August 1933, Page 5

CARGO FREIGHTS.

NEW CONTRACT RATES fJ.Z. PRODUCE FOR BRITAIN, BLUE STAR LINE TO SHARE. (Bγ Telegraph;— Tress Association.) WELLINGTON, Tuesday.

Cabled advice of the main terms of tie new refrigerated cargo freight rate contracts with shipping companies for the transport of produce from New Zealand to Britain was received to-day by the Dairy Produce Board and the Meat Producers' Board. No official statement regarding the terms was available today, as cablegrams had' to be sent to London for the confirmation of some figures. It is authoritatively stated, however, that the new freight rates, which -will operate from Friday, represent a reduction of approximately 7 per cent on the present rates. In the came of butter the rate which is now 4/ a box, less 15 per cent, will be 4/ less 21 per cent. It is estimated that the annual saving on dairy produce represented by the new rates will be approximately £124,000. The new contract carries other provisions relating to the rate of exchange New Zealand on London. The produce boards will carry, as at present, the full cost over 10 per cent of remitting funds to London, the shipping companies carrying 10 per cent. In the new contracts, ho'wever, it is understood there is a provision that if the exchange rate falls below 10 per cent the cost will be borne by the boards and shipping companies in a certain definite proportion. The new contracts- provide that the Blue Star Line will have a ehare, which is stated to be 10 per cent. It is understood the Blue Star Line will shortly open offices in Wellington and other ports in New Zealand. The first homeward loading from the Dominion by the line will be made by the large motor ship Tuscan Star in November. The Tuscan J3tar was built in 1930. She is of ]1,44 fT tons gross register, 471 feet in length, and 68 feet 3 inches in breadth, with 35 feet depth of hold. The Tuscan Star was specially designed and built for the Argentine chilled beef trade, and is one of the largest refrigerated cargo carriers afloat, having a capacity of ISO,OOO freight carcasee. She has a speed of over 16 knots. The Blue Star Line and Union Cold Storage Company has a fleet of 30 vessels.