WAR RISKS

New Zealand Herald, Volume LXXV, Issue 23154, 28 September 1938, Page 14

WAR RISKS

MAKINE INSURANCE i ANOTHER SHARP RISE RATES ON THREE ROUTES PRODUCE VESSELS AFFECTED Marine war insurances between England and New Zealand again rose sharply yesterday. Included in the list is the Panama route, by which several vessels now loading produce in - New Zealand for Britain will leave this week. % Bates to England from New Zealand via Panama have risen from sos to 60s per cent, and from England to New Zealand on the same route from los to 40s per cent. Before last week the rates were 6d per cent. On the Australia and New Zealand route via Sue/- the outward and the homeward rates now stand at 100s, as compared with the previous, figures of 30s and 60s per cent, respectively. On the Cape route the rates have advanced i from 20s for outward shipping and 40s per cent for homeward to 40s and 60s per cent, respectively. Previous quotations were subject to 48 hours' notice of cancellation up to tho time of shipment. These notices are now being given in. respect of produce and other goods awaiting shipment. Vessels immediately affected will be the Napier Star, which will leave Auckland to-day via Panama - for England, the Port Hunter, which will sail from Auckland on Saturday, and the Ruahine, which is due to depart from Wellington to-morrow. The new rates are subject to the same conditions relating to cancellation as the ones they have superseded.