KEEN RIVALRY

Hawke's Bay Tribune, Volume XIX, Issue 31, 23 January 1929, Page 8

KEEN RIVALRY

SHIPPING AUSTRALIA’S WOOL FOREIGNERS OUSTING BRITISH LINES Sydney, Jan. a. The fact that ships flying the flags of seven nations' carried away from Sydney last week 73,000 bales of wool valued at £1,850,000 —tho heaviest weekly shipment this year—directs attention to the keen rivalry among shipping companies of all nationalities for this class of trade. The first 1,000,000 bales of wool available in tho Commonwealth was rushed to countless destinations in• Britain, Europe, and Asia, and a few days ago it was computed that the amount already paid in freight was £1,500,000. It is indeed significant that most of that freight money has been made to foreign firms, which have displayed great enterprise in the keen competition for this class of Australian cargo. Now. that tho Commonwealth Line has been sold, Australia does not receive one penny of tho profits of the conveyance of her wool overseas.

Reports obtained just before the 1,000.000 mark was reached showed that 16 alien find 16 British companies were conveying the wool oversea this year. Of 924,229 bales exported the foreigners had captured 60,000 bales more than the British concerns. However, there was some consolation for the patriotically-inclined in tho fact that a British line (C and D) led tho way with 121,823 bales. A Norwegian firm is second with 75,275 bales. In the last few years the Norwegians have established a firm hold on Australia’s wool trade and are gradually increasing their profits. It is estimated that, by the end of tho season, Norway’s share of the freight will amount to more than £250,000. The Blue Funnel Line (British), with more than 74,000 bales, is making a strong bid for second ‘position. The feature of the position is the rapid advance of Germany. Starting from scratch in 1922 to regain as much ns possible of her lost trade, Germany has quickly jumped to fourth position in the list ct Australian wool exporters. She has captured much business which, until a few years ago, was held by other European countries which had not been affected by the war. Up to a fortnight ago the GermanAustralia Line had conveyed abroad 61,093 bales, while the Norddontscher Lloyd Line had taken 47,613. There has been a big increase in the amount of wool shipped to Asiatic ports, especially to Kobe, Osaka, Yokohama, Hong Kong, and Shanghai. The Japanese shipping firms have taken more than 85,000 bales to the East, and they have also been competing for the trade to Britain and the Continent. Dutch, French, Italian, and Swedish, vessels are also in the fight for a larger share iu the golden fleece freights. .