SHIPPING COMPANIES

Greymouth Evening Star, 9 November 1931, Page 5

SHIPPING COMPANIES

RE-ORGANISATION PROPOSALS [BY CABLE —PRESS ASSN. —COPYBIGHT.] LONDON, November 6. It is authoritatively stated that no further negotiations are contemplated for the White star Lines. The latter is now expected to continue a separate Drastic economies are necessary, and are therefore being effected to meet the present conditions in the shipping world states the R.S.M.P. A scheme for re-organisation has been completed. In contradiction to Lord Kylsant’s contemplated merger of all the tonnage in his control with a capital of £200,000,000, the trustees have decided to adopt decentralisation on a geographical basis, forming smaller groups with the holding company concerned only in the larger matters of finance. The various groups will deal with the Atlantic, South America, Australia, New Zealand, and also South West East Africa. The coastal shipping will constitute an independent group, like’ the. Glen Line in the Far East.’ Each of these companies will be controlled by a management which has specially studied the needs of the particular trade route.* Mr W. Runciman’s Cabinet appoint- 7 ment involves his retirement from trusteeship. The Company points out the situation would be greatly improved if the White Star Company negotiations with the Cunard Company are successful. BUILDING INCREASING. [TIMES CABLES.] , LONDON, November 7. As an indication of reviving trade, at least fifteen vessels were ordered from British shipbuilding yards in October.