FALL IN SHIPPING TRADE

Hawera Star, Volume LIV, 4 May 1934, Page 5

FALL IN SHIPPING TRADE

BRITISH LINES SUFFER INROADS OF FOREIGNERS WARNING AGAINST OPTIMISM (United Presa Association—By Electric Telegraph Copyright.! LONDON, May 2. The annual report of the Mercantile Marine Association states that foreign countries have so undermined all efforts at 'shipping recovery that optimistic statements would, be misleading and would only jeopardise the plans under consideration to relieve the much harassed industry. The not shipping income in 1933 was £6-5,000,000 compared with £105,000,000 in 1930. British tonnage decreased to 27.-5 per cent, of the world tonnage, compared with 50 per cent, in UH3.

Australia’s tendency to increasingly utilise British vessels was brought to favourable notice.

A return of shipping movements at British porti.s reveals that foreign trade arrivals with cargo in March showed an increase for the ninth successive month, compared with the corresponding period in- the previous year, the advance in this instance amounting to -5.7 per. cent. Arrivals in ballast wore 6 per cent, greater and departures with cargo and ini ballast 3.7 and 7.9 per cent, heavier respectively. Coasting trade also showed all round advances.

For the first quarter of 1934 foreign trade arrivals with cargo were between 6 and 7 per cent-, and clearances in ballast nearly 10 per cent, greater than the March quarter of 1933.