COASTAL TRADE

Evening Post, Volume CVIII, Issue 80, 1 October 1924, Page 5

COASTAL TRADE

NEW STEAMSHIP LINE

CUTTING CARGO RATES.

(UNITED PRESS ASSOCIATION.—COPYRIGHT.)

(Beceived Ist October, 11 a.m.)

SYDNEY, Tins Day.

Captain Patrick announces that his new steamship line will commence operations on 10th October. General cargo rates have been reduced from 20s to 13s by the new line.

The Patrick Steamship Company went into liquidation in August. It began last October, an attack on the prevailing coastal freight rales, with a " cut of 10 per cent, between Sydney, Melbourne, and Adelaide, and in November extended the reduction to the Tasmanian trade. In December the reduction was copied by some of the passenger steamers which carried cargo. Tho Adelaide Steamship Company in February cut its rates by 10 per cent. It was estimated in July Miat shippers hail been saved about £200,000 by tho freight reductions, and the coastal trado had considerably increased. But the " war " was then nearly over, and when tho Patrick Company went into liquidation its managing director, Captain Patrick, attributed the failure to insufficient support and intense competition. Shortly afterwards he announced his intention to embark upon anothor shipping venture in the inter-State trado, if he could gain tho support of merchants. In the ovent of such a service being instituted, Captain Patrick stated that he intended to reduce the present freight rates by 10 per cent. He contended that such rates would pay if the ships were by any moans well loaded.