SHIPPING PROSPECTS

Dominion, Volume 25, Issue 264, 3 August 1932, Page 8

SHIPPING PROSPECTS

Hopeful Signs of Recovery AUSTRALIAN SURVEY Signs of revival in the shipping trade are noticeable, says the “Sydney Morning Herald.” The number of tourists leaving Australia, and particularly New South Wales, is on the increase, and ships which had been making the outward voyage from the United Kingdom with little or no cargo are securing comparatively large consignments. For the last two seasons people accustomed to take sea trips to. warmer climates during the winter months have shown a marked preference for the North Queensland cruise. While passenger vessels are still leaving Melbourne and Sydney for the north with all accommodation filled, the number of people now prepared to journey overseas shows a substantial increase; When the Orient Royal Mail steamer Orsova sailed recently she had on board '4BO passengers, of whom 50 are bound for Ceylon, and the remainder for England and the Continent. Since the imposition of the higher tariffs, oversea shipowners have had to provide a large amount of tonnage to lift Australia’s seasonal exports without being able to fill the ships with cargo for the outward voyage. There is now some evidence that conditions are improving. The freighter Hurunui, which is due at Sydney from west coast ports of the United Kingdom about August 8, has on board 8963 tons of cargo for Australian ports. The motor freighter Limerick, which will follow early in September, has more than 7000 tons. An increase in the amount of cargo carried to Australia from Canadian and United States ports has also been noticed in recent weeks.

Mr. E. A- Eva, manager in Australia of the Aberdeen and Commonwealth Line, who returned by the Balranald some days ago, after a business visit to England, said that the upward tendency in shipping shares on the London market before the announcement of the British loan conversion was an encouraging sign. At present, however, there was no justification for a reduction of freights on cargo from Great Britain to Australia. Shipowners engaged in the Australian trade were still finding difficulty in showing a profit on their running accounts. He was convinced that the popularity of one-class travel was increasing.