STEAMER RATES.

Marlborough Express, Volume XLVI, Issue 279, 23 November 1912, Page 7

STEAMER RATES.

PROBABLE RISE FORECASTED.

[press association.]

WELLINGTON, Nov. 22. Sir James Mills, interviewed, said that the high rates! now ruling on some of. the overseas trades routes were likely to continue for a good while, yet some of the route rates were now 50 per cent, higher than twelve months ago. This meant that the profits of tramp steamers were exceedingly good, and that the selling value of these vessels had advanced. In proportion; the cost of building steamers had advanced enormously, owing to increased wages and cost of steel work. Last year alone the cost of building of certain types of vessels had increased by over 30 per cent. While the tramp owners were getting handsome profits the men* engaged in the regular trade had not profited to the same extent. In many cases not at all, as, having contracts in hand and regular clients to serve, they had not been able to advance the rates materially, although wages and cost of material had gone up. Therefore he thought the line owners would coon have to raise the rates. I