SHIPPING INDUSTRY

Evening Post, Volume CXIII, Issue 15, 19 January 1932, Page 8

SHIPPING INDUSTRY

EFFECT OF DEPRESSION

FALLING OFF IN PASSENGERS

ALL LINES SUFFER

"Shipping is a very sensitive barometer of any financial storms that may be brewing, and along with other companies the Orient. Line has , for some time been feeling the. effects of the depression," said Mr. Colin S. Anderson, a London director of the Orient Line, in an interview with a "Post" representative on his arrival at Wellington by the Ulimaroa , from. Sydney to-day. In company with Mr. Douglas L. Dowdell, general manager for the company in Australia, - Mr. Anderson has come to New.Zealand to visit the company's agents in the Dominion, the Union Steam Ship .Company of New Zealand Ltd. '

Shipping the .world over had been seriously affected by the depression, said Mr. Anderson, and hcthought Australia was.one of the earliest countries in the world to show signs of what was coming. In the shipping world passenger services had shown a deplorable falling off, and Australian cargo was only being carried one way, owing to the almost complete cessation of imports into the country. "Compared with what they used to be, imports into Australia -at the present time are practically negligible, owing to the additional tariffs which have been inir posed," he said. "Luckily Australia this year produced an almost record export of. primary products, which has helped to make the position more cheerful for the-exporters. Unfortunately, however, the freights of most shipping companies lie in one direction. The Orient Line has met. the needs of the travelling public for a more' economical form of travelling by instituting a tourist class service, which has proved very popular. Two ships, the Ormonde ami Orsova; have been: set aside for this purpose, and in them one class only is carried.

'■'The falling off in the passenger trade applies not. only to the' Orient Line, but to shipping in general.1 For instance, the number of wealthy travellers across thq Atlantic has dwindled to an alarming exterit, as is shown by the returns of the Atlantic liners in the-past few months. . .

"I think'all .shipping lines are living on what prudence in the past has enabled them to put by for an occasion such as this, which is a; very good example of the necessity for all commercial concerns to have something in' reserve." ' ' ' , : .'

In conclusion, Mr. Anderson.said that recently people in Australia seemed to have gained confidence and become more optimistic, and he hoped that that mean-t the beginning of the recovery from'the depression.