BUSY SHIPYARDS
NAVAL CONSTRUCTION 40 WARSHIPS IN HAND WORK ON THE CLYDESIDE TRAMP STEAMER INDUSTRY By Telegraph—Press Association —Copyright ; (Received March 31, 6.5 p.m.) i British Wireless RUGBY, March 30 The construction of Worships con- 1 tinues to be the backbone of the i Clyde shipbuilding industry. About 40 naval vessels of various types are now in course of construction there and the number is lively tcu 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 21 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 tho end of the depression. The recovery reached its peak in September and from then onward there was a marked recession in all the markets. Building costs have greatly increased and doubt is expressed whether tho present rates in the markets as a whole, with the present volume of employment, are sufficient to provide even for depreciation.
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Bibliographic details
New Zealand Herald, Volume LXXV, Issue 23002, 1 April 1938, Page 9
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206BUSY SHIPYARDS New Zealand Herald, Volume LXXV, Issue 23002, 1 April 1938, Page 9
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