DECREASED TONNAGE.
LLOYDS’ REPORT. BY CABLE—PRESS ASSOCIATION—COPYRIGHT. Received Nov. 5, 9.30 a.m, LONDON, Nov. 4. The report of Lloyds* Register of the shipping year ended June 30 last, records a continuance of depression in the shipbuilding industry. It says: “The tonnage of new vessels classed by Lloyds during the year, namely, 85,000, is the, lowest recorded for 1.5 years, except in the second year of the war, representing only 27 per cent, of that of 1920-21 and 55 percent. of the total for 1922-23. Four hundred and fifty-four vessels with a tonnage of 600,001 F were lost and 500 vessels with a tonnage of 1,250,000 were dismantled or broken up,- the last figure being twice that of the year ended June, 1923. Although the world’s mercantile fleet is still fifteen million tons greater than 1914, a large proportion is laid up. The tonnage is unlikely to ever be able to successfully cope with employment, and any serious revival of overseas traffic will still further eliminate .uneconomical tonnage. *
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Hawera Star, Volume XLVIII, 5 November 1924, Page 5
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167DECREASED TONNAGE. Hawera Star, Volume XLVIII, 5 November 1924, Page 5
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