WORLD’S SHIPPING
AN UNPROMISING OUTLOOK. Press Association—By Telegraph—Copyright. Australian and N.Z. Cablo Association. SYDNEY, February 23. (Received February 28, at 10.50 a.rn.) Sir Henry Summon, a loading Hull shipowner, who is en route to New Zealand in search of trout fishing, takes a gloomy view of tho shipping outlook. (He declared that the depression was just commencing. The shipping world was confronted with tho greatest slump tho world had ever seen, in consequence of the enormous shipbuilding programmes in England and America, Already there were 6,000,000 or 7,000,000 tons laid up in England and in American ports. England, bo said, had pulled up her losses, and had now rather more tonnage Ilian in 1914 ; while America had 8,000,000. or 9,000,000 tons more than before tiic war. Tho budding orders which had been cancelled were enormous. S r Henry Sammon believes that the days ahead hold very serious possibilities, arid that it will take many years to work off the surplus tonnage and get back to a position of balance.
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Bibliographic details
Evening Star, Issue 17597, 28 February 1921, Page 4
Word Count
169WORLD’S SHIPPING Evening Star, Issue 17597, 28 February 1921, Page 4
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