SHIPPING RECOVERY

Evening Star, Issue 21580, 28 November 1933, Page 11

SHIPPING RECOVERY

RELIABLE BAROMETER OF TRADE MANY VESSELS RECOMMISSIONED [Pek United Press Association.] WELLINGTON, November 27. Grounds for the belief that economic conditions generally are improving are provided by an examination of the state of the shipping industry, which furnishes one of the most reliable barometers of trade. This holds good not only for world trade but also for the position of any on© country. During the past few months the Now Zealand coastal shipping companies have been handling far more cargo than has been the case for some considerable time. Many vessels which were laid np owing to slackness of trade have, in recent months, been brought back into commission, and ships which, for several years past, have been running wjth half their cargo space empty are now carrying capacity or near capacity cargoes. A number of coastal vessels are still laid np, but the majority of these are old tonnage, uneconomical to run, and will probably never be brought hack into commission. This increase in the quantity of cargo handled is reflected in the improved returns of almost every New Zealand harbour board in recent months.

So far as the New Zealand export trade is concerned the season now approaching its peak period promises, for the actual tonnage shipped overseas, to he a record. The number of overseas vessels allotted to load for the United Kingdom during December and January is in excess of the normal, while the numbers for January-February and Febrnarv-March will be heavier than ever before. During that period—December to March—over fifty vessels will leave New’ Zealand ports for England with capacity cargoes. In addition to these regular traders to_ the United Kingdom nearly thirty shins, including the regular mail liners to San Francisco and Vancouver, will carry_cargo from New’ Zealand to G’-eat Britain, the Continent, the United States, Canada, and Japan. This huge total of eighty ships in apnroximately 120 davs entirely excludes those taking cargo both for Australia and for transhipment from Australia to other countries.