WARSHIP BUILDING KEEPS CLYDE GOING
(Received 10 a.m.)
RUGBY. March 30
The construction of warships continues to be the backbone of the Clyde shipbuilding industry. About 40 naval vessels of various types are now ih course of construction, and the number is likely to be, greatly augmented in the near future. There is still a lull in the building of merchant tonnage. Total Clyde output for the year so far is 31 vessels, of 61,203 tons. The report of the Chamber of Shipping states that the striking recovery of tramp freight rates last year was sufficient, on the average, to provide for current depreciation, a fair return on capital and a. contribution toward making good the arrears of depreciation with which the industry was burdened at the end of the depression. The recovery reached its peak in September, and from then onward Ihere was a marked recession in all •markets. Building costs have greatly increased, and doubt is expressed whether the present rates in the market as a whole, with the present volume of employment, are sufficient to provide even for depression.
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Northern Advocate, 1 April 1938, Page 5
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182WARSHIP BUILDING KEEPS CLYDE GOING Northern Advocate, 1 April 1938, Page 5
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