SHIPPING SLUMP.
huge roll of unemployed. OWNERS CAN ONLY CUT DOWN U OPERATING COSTS. (Received Feb. 26, 5.5 p.m.) ' LONDON, Feb. 20. Sir Frederick Lewis in his presidential address at the Chamber of Shipping said that about thirty thousand maritime officers and seamen, were unemployed. He estimated that 2 950,000 tons" of British shipping was laid up in the United Kingdom ihe United States Board has one thousand vessels lying idle, representing over 4,000,000 tons apart from wooden and privatelv owned vessels. Most or the other maritime countries were in similar positions. A scheme foi proportionate laying up of tonnage for breaking up, even the sinking of old obsolete tonnage, was being discussed. The schemes all start with the idea of cutting down tlie supply to meet the demand. “I think we should all like to see the demand increased up to the supply. AH that we as shipowners can do is to get the operating costs down to a minimum and raise the efficiency in cargo handling at our ports to a maximum. —A. and N.Z.G.A. „ .
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Bibliographic details
Gisborne Times, Volume LVI, Issue 6322, 27 February 1922, Page 5
Word Count
177SHIPPING SLUMP. Gisborne Times, Volume LVI, Issue 6322, 27 February 1922, Page 5
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