‘Spate’ Of Building Boats Unlikely

Press, Volume CVIII, Issue 31586, 25 January 1968, Page 1

‘Spate’ Of Building Boats Unlikely

The Government’s scheme for “widened” mortgage guarantees, and loan finance scheme was unlikely to start an immediate spate of fishing-boat building, the vice-president of the Commercial Boat Owners’ Association (Mr B. R. Walker) said yesterday.

He said that the industry was waiting to see whether the two fishing ventures, Sea Products Company, Ltd, out of Nelson, and the Taimoana Fishing Company, Ltd, out of Lyttelton, would be able to use bigger boats economically.

The Minister of Marine (Mr Scott) had not said whether the finance scheme would apply to crayfishing boats, Mr Walker said. "It seems quite silly to cut crayfishing out,” he said. “It is certainly the most valuable form of fishing to New Zealand as far as the earning of overseas funds is concerned ”

One good aspect of the scheme was that in certain circumstances New Zealandowned partnerships and corporate bodies could obtain

financial assistance. Previously, loans had been limited to individual fishermen. The pattern today was for bigger ships, run by companies rather than by individuals.

In the past most New Zealand fishing had been inshore by smaller boats with twomen or three-men crews. In many cases they were owneroperated. Such trawlers cost about $44,000. -

The fishing boats required by a company would cost from $lOO,OOO to $140,000 when fitted with electronic gear.

Devaluation meant that fishermen would have to pay about 25 per cent more for fishing boat engines, which were imported, Mr Walker said.