Shipping glut to ‘bottom out’
A British shipping executive says that this year will see the world’s biggest glut in bulk shipping tonnage. The managing director of the British shipping consortium, Atlantic Bulkers, Mr Tim Brown, said on a recent New Zealand visit that bulk shipping had been in serious recession for the last four years. He expected the recession to “bottom out” this year. Some Governments were subsidising their shipbuilding industries so heavily that the world market for bulk cargoes had become seriously depressed, due to the over-supply of shipping. The British Merchant Navy, which totalled 50 million tons in 1975, was now down to 18 million tons. This was an indication of the extent of the recession, Mr Brown said. ARRIVALS Forum Samoa (6 a.m.), 3838, Tonga (S.C.N.Z.). Spirit of Free Enterprise (7 a.m.), 1204, Wellington (Pacifica). Vasily Vinivitin (10 a.m.), 3170, sea (Scales). DEPARTURES Kinushima Maru (6.30 a.m.), 37,401, Australia (S.C.N.Z.). Key Splendor (2.30 p.m.), 11,368, Auckland (S.C.N.Z.). Grafit (4 p.m.), 2100, sea (Scales). Spirit of Free Enterprise (4.45 p.m.), 1204, Wellington (Pacifica). EXPECTED ARRIVALS Coastal Trader, Dndn, today (10.30 a.m.). Australian Trader, Wgtn, today (12.30 p.m.). Spirit of Free Enterprise, Wgtn, tomorrow. Union Nelson, Nlsn, May 31. Oceania Glory, New Plym, June 1. Spirit of Free Enterprise, Wgtn, June 1. Nedlloyd Bangkok, sea. June 1. Spraynes, Taur, June 1. Ghikas, Sydney, June 2. Toyo Fuji No. 8, Sydney, June 4. Spirit of Free Enterprise. Wgtn, June 4. Kamagong, Asia. June 5. Wellington Star, Auck, June 5. PROJECTED DEPARTURES Vasily Vinivitin, sea, today (8 a.m.). Forum Samoa. Sydney, today
Coastal Trader, Auck, today (2
p.m.). Spirit of Free Enterprise, Wgtn, tomorrow. Australian Trader, Port
Chalmers, tomorrow. Union Nelson, Onehunga, June 1.
Oceania Glory, Japan, June 2. Spirit of Free Enterprise, Wgtn, June 2. Coastal Trader, Dndn, June 3.
VESSELS IN PORT Australian Trader, Cashin Quay No. 3.
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Press, 29 May 1985, Page 25
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310Shipping glut to ‘bottom out’ Press, 29 May 1985, Page 25
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