FREIGHT RATES

Dominion, Volume 26, Issue 287, 30 August 1933, Page 10

FREIGHT RATES

Refrigerated Cargoes THE NEW CONTRACTS . Extent of Reductions BLUE STAR LINE TO RUN Cabled advice of tbe main terms of flie new refrigerated fargo freight rate contracts with the shipping companies was received yesterday by the Dairy Board and the Meat Board. No official statement regarding the terms was available yesterdaj as cables had to be sent Lo, ' d “" * confirmation of some ot. tne fi»ures. It is authoritatively stated, however, that the new freight rates which will operate as from Friday, represent, in general terms, a reduction of approximately 7 per cent, on the present rates. For example, in the case of butter, the rate, which is now 4/- per box less la per .cent,, will under the new contract he 4/- less 21 per ceift. It is estimated that the annual -Saving on dairy 'produce represented by the new rates will' be approximately £124,000. The new contract; carries, amon = others, provisions relating to the rates of exchange, New Zealand on London. The produce boards will carry, as at present, the full cost over 10 per cent ;of remitting funds to London, the shipping companies carrying the 10 per cent. In the new contracts, however, it is understood, there is provision that if the exchange rate falls below 10 per cent.,’ the cost will be borne by the boards and the shipping companies in a certain definite proportion. , .1 As was previously announced in “Inc Dominion,’’ the new contracts provide that the Blue Star Line will have a share, stated to be 10 per cent., in the carriage of refrigerated - cargo from New Zealand to England. It is understood that the Blue Star Line will shortly open offices in Wellington and other seaports-in New Zealand. . ■- .r' . , ■ The first Homeward loading from the Dominion to be made by the Blue StarLine will be by the big motor-ship Tuscan Star in November. This ship, built in 1930, is of 11,449 tons gross register, 471 feet in length, 68 feet 3 inches in breadth, and 35 feet depth of hold. Specially designed and built for the Argentine chilled beef trade, the Tuscan 'Star is one of the largest refrigerated eargorcarriers afloat; with a capacity of ISO,OOO freight carcases. She has a speed of over 16 knots, and is one of 30 ships owned by the Blue Star Line and the Union Cold Storage Company.