Shipping Cargoes To N.Z. Pick Up

Press, Volume CIII, Issue 30562, 3 October 1964, Page 13

Shipping Cargoes To N.Z. Pick Up

(Special Correspondent N.Z.P.A )

LONDON, Oct. 2 Improvements in the tonnages of outward cargo to New Zealand have been held, and cargo to and from Australia has continued at a good level, Sir Errington Keville, chairman of Furness Withey, told shareholders

at the annual meeting. “The improvement in the operational and financial re-

suits of the company’s subsidiary, the Shaw Savill line, which was in evidence last year, has continued in the year under review, so that the overall trading profit is back to the 1959-61 average from which it dropped rather drastically in 1962. “This welcome recovery can be attributed first to some improvement in the New Zealand trading, as foreshadowed in September, second, to better returns from the round-the-world voyages of the two passenger liners Southern Cross and Northern Star—the latter vessel completing her first full year of four voyages—and last to particularly gratifying results from the two new refrigerated cargo vessels Megantic and Medic.

“Two further refrigerated vessels each of approximately 8000 tons gross are now under construction in British shipyards for delivery early in 1965.”