SHIPPING COMPANIES.

Lyttelton Times, Volume CXVIII, Issue 18584, 10 December 1920, Page 6

SHIPPING COMPANIES.

P. AND O. AND INCREASED FARES. By Telegraph—Press Association—Copyright. Austrolian and N.Z. Cablo Association. I LONDON, December 8. At the Peninsular and Oriental Company's meeting Lord Inchoapo soid he regretted being compelled to raiso paasengor 'rates to keep pace to some extent with the great advance in the cost of coal, wages, stores, and operating expenses generally. " But," ho said, "it is not our fault. Wo are now carrying passengers at less than cost. Our large passenger vessels now under construction will cost far in excess of pre-war figures, and it would bo impossible to run them as separate units." The value at which the fleet stood as a whole, he said, would bring the averago value of thoso "costly vessels considerably undtr pre-war prices. Regarding former Uerman passenger steamers, large sums must be spent to bring them up to anything approaching British ideas of comfort.