A GLOOMY VIEW
THE SHIPPING OUTLOOK
ENORMOUS CANCELLATION
ORDERS
(BKHE* SPBBPS ASSOCIATION.—COPTRIGHT.3
(Received February 28, 11 a.m.)
SYDNEY; This Day.
Sir Henry Sammon, a leading Hull shipowner, who ie en route to New Zealand! in seai'ch of trout fishing, tabes a gloomy view of tl>e shipping outlook. He declared that depression was just coming, in the shipping world,' which would be confronted with the greatest slump tho world has ever seen. In consequence of the enormous shipbuilding programme in, England and America, already six or seven million tons were laid up in English and American ports. England had pulled up her losses, and had now rather more tonnage than in 1914, while America had eight or nine million tons more than before the war. Already the cancelled building orders were enormous. He believes the days ahead hold very serious possibilities, and that it will take many years to work off the surplus tonnage, and get baok to a position of balance.
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Bibliographic details
Evening Post, Volume CI, Issue 50, 28 February 1921, Page 7
Word Count
161A GLOOMY VIEW Evening Post, Volume CI, Issue 50, 28 February 1921, Page 7
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