BRITISH STEAMER FREIGHTS.
LONDON, 17th September. Among the indications of British trade revival is an improvement in tramp steamer freight rates, which have risen approximately 2 per cent, during August. The Economist" says th,ere has been a slightly improved inquiry in Far Eastern waters, and ready tonnage being in short supply values moved in favour of owners on several important routes. The "Evening Standard" points out that the rates are still more than 6 per cent, lower than a year ago, and in terms of gold they are about 30 per cent. down.
Britain's departure from the gold standard has given British shipowners a certain advantage. Unretnunerative rates led to an increasingly large number o£ foreign ships being laid up. Many observers regard this as the turning of the tide. At the same time too much should not be adduced from, the advance in freights. Further improvement depends on a continuance of the rise in commodities, which, if carried far enough, would enable much laid-up tonnage to be profitably put into service.
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Evening Post, Volume CXIV, Issue 69, 19 September 1932, Page 10
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172BRITISH STEAMER FREIGHTS. Evening Post, Volume CXIV, Issue 69, 19 September 1932, Page 10
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