BRITISH SHIPPING.

New Zealand Herald, Volume LXVII, Issue 20496, 22 February 1930, Page 11

BRITISH SHIPPING.

INDUSTRY AT LOW EBB.

UNREMUNERATIVE FREIGHTS

LONDON. Feb. 20

In his presidential address to the Chamber of Shipping. Sir Arthur Sutherland said the fortunes of the shipping industry were seen at their lowest ebb. Freights were actually below the pre-war level, while working costs were about TO per cent, higher. He gave an instance of freight from Australia, which a year ago was 37s 6d a ton and which was now barely 22s 6d, of which port, charges, loading and discharging expenses absorbed 13s sd, leaving the shipowners with 9s Id for sea carriage over 11,055 miles, equal to a penny per ton per 100 miles. " You could not run a baby Austin car at anything like such a low cost. Shipowners, however, do not despair, feeling sure that the dark clouds will disperse and there will he some recovery this year."

The meeting passed a resolution welcoming the calling of the Imperial Conference, as offering an opportunity of a strong combined effort on the part of all members of the British Commonwealth of Nations to develop the Empire's trade resources by increasing production and the exchange of goods and services within the Empire.

It expressed the opinion that more systematic methods were required to attain this object to the fullest extent as quickly as possible. Hie Governments of the Empire should be used to create the necessary machinery to this end.