TOO MANY SHIPS.

Auckland Star, Volume LXVI, Issue 29, 4 February 1935, Page 3

TOO MANY SHIPS.

SCRAPPING PLAN. ONE-TENTH OF WORLD'S TOTAL. DELEGATES AT CONFERENCE, (From a Special Correspondent.) (By Air Mall.) LONDON', January 12. Australia and New /calami arc among the eighteen countries whose delegates arc assembling iu/London next week to consider a plan to scrap or lay up nearly one-tenth of the world's cargo shipping. By this drastic step it is hoped to restore prosperity to the shipping industry and enable the remaining nine-tenths of the vessels to cam reasonable profits. Nearly three months will be spent in drafting a scheme to be placed before a plenary conference of the shipping nations which Jβ to bo held later this year, probably in Berlin. Tho British representatives will be eager to .see a scheme accepted. When the Government granted the British industry a subsidy of £2,000,000 they made a world agreement on rationalisation a condition. Officially the agenda of the conference aims at "the adjustment of supply to demand." There- are too many ships for the amount of carrying trade now going. Leaders of the British shipping industry say it its better to run the good modern ships at a profit than have all ships in competition at uneconomic levels.