THE SHIPPING INDUSTRY

Press, Volume LXIX, Issue 21024, 28 November 1933, Page 15

THE SHIPPING INDUSTRY

—,-—.— <ty-' —— MORE CARGO BEING CARRIED MANY OVERSEAS VESSELS TO LOAD i (rIIESU AhKOCU'ilUi.* TELKUIUIC; WELLINGTON, November 27. Grounds for Ibc belief that economic conditions generally are improving are provided by an examination of the state of the shipping industry, which provides one of the most reliable barometers of trade. This holds good not only for world trade, but also for the position ot any one country. During the .last few months the New Zealand coastal shipping companies have been handling far more cargo than has been the case for some considerable time. Several vessels laid up owing to the slackness of trade have, in recent months, been brought back into commission, while ships that for several years past have been running with half their cargo space empty are now carrying capacity or near capacity cargoes. Some coastal vessels are still laid up, but the majority of these are old tonnage, and are uneconomical to run, and will probably never be brought back into commission. . . This increase in the quantities ot cargo handled is reflected in the improved returns of almost every New Zealand harbour board in recent months. The export season is now approaching its peak period and promises, for actual tonnage shipped overseas, to be a record one. The number of overseas vessels allotted to load for the United Kingdom during December and January is in excess of normal, while the numbers for January and February and February and March will be heavier than ever before. During the period December to March more than 50 vessels will leave New Zealand ports for England with capacity cargoes. In addition to these regular traders to the United Kingdom, nearly 30 ships, including the regular mail liners to San Francisco and Vancouver, will carry cargo from New Zealand to Great Britain, the Continent the United States, Canada, and Japan. This tola! of 80 shins in approximately 120 days entirely excludes those taking cargo both for Australia and for transhipment from Australia to other countries.