SHIPBUILDING COSTS TOO HIGH
RECOVERY OF INDUSTRY SAID TO BE EXAGGERATED
LONDON, August 25
Lord Craigmyle, chairman of the P. and O. Shipping Company, speaking at Leith, said that the prices for ships had reached a level which was making it practically impossible for shipowners to hope even for a moderate profit. It was imprudent to lay down ships at to-day's prices, and accordingly shipowners were compelled to curtail or even stop building until costs were more moderate.
The recovery of shipping had been considerably exaggerated in certain quarters, though tramp shipping had already benefited by the expansion of trade. The most favourable omen was the British and Dominion Governments' recognition of the importance of a strong mercantile marine.
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Press, Volume LXXIII, Issue 22182, 27 August 1937, Page 6
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119SHIPBUILDING COSTS TOO HIGH Press, Volume LXXIII, Issue 22182, 27 August 1937, Page 6
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