WORST SINCE BEFORE WAR

Evening Post, Volume CXI, Issue 85, 10 April 1926, Page 7

WORST SINCE BEFORE WAR

RATES CUT BY TRAMP BOATS

DESPEEATB COMPETITION.

(United Pre« Association.—Copyright-! (Australian-New Zealand Cable Assn.)

(Received 10th April, 11 a.m.)

SYDNEY, This Day,

Shipowners and shipping agents interested in overseas trade are preparing to face during the next few months the worst situation experienced in the export shipping trade since before the war. Bates for freight are being.cut by tramp vessels, and there is a pronounced dearth of exports for liner tonnage. The wheat freight market has been virtually cut' to pieces by tramp ressels.' . , Within the last few days an engage-' jient has been made for a tessel to load ! a full cargo of wheat at Sydney for the United Kingdom at 24s a ton, which is the lowest rate accepted since long before the war. Wheat parcel rates have also suffered, and are now reduced to 20s_ a. ton, for the United Kingdom, ■which is the lowe9t on record since the 1907-8 season. .' One sign of tho desperate competition which prevails between oversea lines for any Homeward freight is the free storage which butter exporters are i able to at tho expense of the shipowner who is prepared to book the butter and accept delivery before the steamer discharges her outward cargo. The butter exporter has the satisfaction of seeing his butter stored in a ship's insulating space, while she goes to other ports discharging and loading. In many instances a month's free storage is secured. . '