BRITISH SHIPPING

Dominion, Volume 21, Issue 83, 6 January 1928, Page 9

BRITISH SHIPPING

SIGNS OF RECOVERY OF

TRADE

READY TO MEET FAIR COMPETITION

London, January 4.

“There are signs of recovery of the world’s trade,” savs the Hon. Alexander Shaw, a former vice-president of the Chamber of Shipping, writing in the periodical “The Shipping World, ' but it will be a long time before the industry is reasonably certain of securing a moderate return on capital. When that time comes the British Mercantile Marine will be ready to meet the whole world in fair aud square competition. It does not seek protection; it only demands fair play in the international freight markets.” Mr. Shaw estimates that the earnings of cargo companies on capital and reserves is under 3 per cent., and the earnings of liner companies a little over 3} per cent. Such earnings, he said, are insufficient. Seven out of ten years are lean ones for shipping, which depends on the other three years to recoup the losses, and provide new ships and interest on capital.—A.P.A. aud “Sun.”