BRITISH SHIPOWNERS
MORE HOPEFUL VISTA REDUCING SURPLUS VESSELS LONDON, Sept. 18 The hope that the steps now being taken to relieve the difficulties of shipowners will soon bring a return of a reasonable measure of prosperity to merchant shipping is expressed in a report in "Lloyd's Register" for the year ended June 30. It states: "The world tonnage laid up at present is 8,000,000, compared with 12,000,000 last year, and 15,000,000 two years ago. " There were sold for breaking up 2,700,000 tons, and 289,000 tons were lost. As a result the world tonnage now is 65,000,000, compared with 70,000,000 tons in 1931. The total still exceeds the demand of the freight market, but the gradual elimination of surplus vessels opens a more hopeful vista for shipowners."
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New Zealand Herald, Volume LXXI, Issue 21910, 20 September 1934, Page 11
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126BRITISH SHIPOWNERS New Zealand Herald, Volume LXXI, Issue 21910, 20 September 1934, Page 11
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