SINGAPORE DOCK

Greymouth Evening Star, 1 June 1928, Page 7

SINGAPORE DOCK

TYNE TO SINGAPORE

(Australian Press Association.) (By Cable—Press Assn—Copyright.)

LONDON, May 30

Insurance has been arranged for the voyage of the Singapore Floating Dock from the Tyne to Singapore, a distance of 8,500 miles. Although it, is not the longest tow on record, the great size, weight, and value of the property will probably make the risk the most important one ever placed on the London 'market. -

The dock leaves in June, thus experiencing the most favourable period for sea voyaging in the year, when it is hoped that the weather will be propitious for the whole of the voyage out.

It is intended to take the dock out in two tows, the first tow consisting of four sections, which are insured for £550,000. The second tow will comprise three sections, and these are insured for £350,000. The whole dock is insured against all risks at a premium of six per cent. The original underwriters have placed re-insurances against the total loss at £3 4/5 per cent. Some of the underwriters have got rid of part of their liabilities. Other underwriters decline to carry any of the risk. Assuming that the speed will average four knots, the journey will occupy three months. Each group of sections will be in charge of four powerful tugs. Messrs L. Smith, of Rotterdam, have obtained the towage contract. There is surprise in many quarters that a Dutch firm, and not a British firm, has secured this contract. However, the fact will be recognised in Britisth industry that the Dutch firm have specialised in long towages of heavy craft, and have built exceptionally powerful tugs for the purpose, which are manned by experienced crews.

The insurance market believes that the builders and the towers are taking every possible precaution, but certain risks are indicated to the groups of sections which on such a. voyage will necessarily he unwieldy. The market, will watch the voyagers with the closest interest.