SHIPPING OUTLOOK.

New Zealand Herald, Volume LVIII, Issue 17845, 28 July 1921, Page 4

SHIPPING OUTLOOK.

THE NEW ZEALAND TRADE. CONGESTION IN ENGLAND. [PSOH OUB OWX COBJIESPONTJEST.] LONDON. Jane- 5. Owing to the waterside workers 1 strike iu New Zealand six of the Shaw, Savijl and Albion vessels are due to arrive in United Kingdom ports during this coming week-end. These are the Kumara, Waiwera, Zealandic, Pakeha, Maimoa, and Ccrinthic, and with the Athenic, which berthed at the end of last week, this w i]j make a group of seven vessels which will certainly have little opportanitv of finding outward cargoes for some " time, I number of them wQI prcba-bly have to go back in ballast, and it has olre-adv been arranged that the Athenic wili sa.jj 1 passengers only. The Waiwera is to gu ; to Canada to pick up a cargo there. Re- ! oently the Kia Ora went over to Canada but she got so little cargo that the company was obliged to nil up ■with American coal to sell to any suitable purchaser or for distribution among the company's , vessels. Owinjr, to the coal strike, the shipment of the Welsh coal, which the New Zealand Government purchased under somewhut peculiar circumstances, has tor the time being ceased, so that the difficulty of getting vessels back to N>\v Zealand to load meat and dairy produce has considerably increased. Pakeha's Large Complement. Tie Pakeha is due to leave for Neer Zealand about June lb. Fortunately some of the workers are wearyinc of the joiners' strike, and it ha„< been found pes. sible to obtain labour at Portsmouth for fitting up the special accommodation for third-class passengers. Enough coal was brought over from Newport News to carry the vessel back across the Atlantic, but owing to the necessity of having to "o | to Portsmouth, au;d having to keep tig ! steam there on account of berthage diffi- ■ cidties. it will probably be found neces- ' sary to call at the- Hook of Holland beI fore setting out on the voyage. The | vessel will carry a full complement of | passengers, 854 berths having been : booked, which means, including infanta : and children, about 1000 souls. j An example of the deplorable level to | which organised labour has fallen is ! forthcoming in a comparison of the work I done by a party of unskilled men who ! fitted up the extra third-class aceommodai tiou in one 'of the New Zealand vessels recently, with that done by the abip- • wrights before their strike which Started ! some months u.gu. A certain piece. of j work was done by the unski'led men under I the supervision of the ship's carpenters ! in six days at an expenditure of £60. j An exactly similar piece of work som* j time ago took the shipwrights 16 day? I to complete and cost, the shipping com- ! pany £370. White Star Line. j In view of the drop In freights, it is i not surprising that the profits of the I Oceanic Steam Navigation Company (th« ' White Star Line) suffered a substantial 1 setback during the past year. As corn- ; pared with 1919. the decrease is £374,466, but as the larger balance is now brought ' in. compared with a vear ago, the decline j in the available total is limited to £290,9&9. While the same amount as in 1919 has been distributed as dividend, the rate is reduced from 20 (o 15 per cent., the capital having been increased in June la*t by the issue to the proprietors of 1250 | new £1000 shares, payment being proi vided out of the reserve and general pur- , poses funds. Nothing is now placed to j reserves which last year received £128 000, ein 1 00« h< ? income tex > e *c.- absorb some £80,000 less than a vear ago, and the carry forward " is considerablv reduced. Ihe directors remark that there does not seera to be any indication of an immediate improvement in- the freight situation. The o sV°°k for passenger business in the North Atlantic services is somewhat disturbed owing to contemplated legislation by the American Government, which, if carried through, will restrict immigration and result in a large reduction in carryings.