SHIPPING INDUSTRY

Dominion, Volume 31, Issue 73, 20 December 1937, Page 9

SHIPPING INDUSTRY

Continued International Co-operation

(British Official Wireless.)

(Received December 19, 7.5 p.m.)

Rugby, December 18.

The principle of continued international co-operation' in the shipping industry was unanimously accepted at a private meeting in London of tiie International Shipping Conference. A resolution approved of the scheme <ff voluntary co-operation adopted by the British tramp shipowners to operate on January 1 as a basis for international co-operation subject to «.•<»>»- sideration of points of detail. Sir Richard Holt, president of inBriitsh Chamber of Shipping, said 1937 had been a boom year and tiie improvement reached its peak in September. There had since been a sharp decline and all tiie qualities Unit contributed to the success of co-oper-ation in 1935 and onward would be needed to preserve and make it effective in the future. i TRAMP SHIPPING No British Subsidies Foi 1937 (British Official Wireless.) , Rugby, December 17. December 31 marks the end of the subsidy for tramp shipping in respect of each of the three years, 1935 to 1937, under the British Shipping Assistance Acts, and which have been paid for 1935 and 1936.

Subsidy will not be payable for 1937, as the average level of freight rates this year will exceed the average for 1929. Arrangements are being made to wind up the work of the Tramp Shipping Subsidy Committee.