INTERNATIONAL SHIPPING

Otago Daily Times, Issue 21736, 30 August 1932, Page 16

INTERNATIONAL SHIPPING

SURPLUS TONNAGE. (From Our Own Correspondent.) LONDON, July 15. The Standing Committee of the International Shipping Conference met last week and reviewed the position of shipping. The countries represented were Belgium, Denmark, France, Germany, Great Britain, Greece, Holland, Italy, Japan, New Zealand, Norway, Baltic and International Maritime Conference. A representative of the United States Ship ping Board was present as an observer. On the general question of policy agreement was reached. An official announcement states that " the immediate steps to be taken to relieve the existing position created by the present overwhelming excess of tonnage were examined in detail and referred for further consideration to the national associations." After the following resolution was adopted the meeting adjourned:— Resolved that — 1. The paramount need of shipping undor all flags is the restoration and development of a prosperous world trade. To that end a co-operative movement throughout the world for the removal or reduction of trade barriers and the restoration of the exchange of commodities is an urgent necessity. 2. Free access to an open freight market, that is, freedom to the traders to use the most effective power that is available on an economic basis, 'is essentia] to the prosperity of world trade. 3. The maintenance of efficient ocean transport services on such basis is as essential as international credit, and therefore the drift into a hopeless state of disorganisation in those services must be stopped in the interest as much of commerce as of shipping. FREEDOM OF THE SEAS. . 4. The Standing Committee therefore recommends to the International Shipping Conference: — (a) Adherence to the policy of the freedom of the seas on a footing of equality for all ships operating on an economic basis, under alj,. flags in all ports in all international trades. (b) The study, in co-operation with all interests concerned of such laying up or scrapping schemes as may be necessary to bring tramp and cargo liner tonnage into relation with the needs of overseas trade, and generally to promote the employment of such tonnage to the best account. The appointment of a committee to for .late schemes for laying-up and/or scrapping surplus tonnage was recommended by a committee of the Chamber of Shipping in a report ou " Policy," which was published ou Monday. The suggestion was then made that, the schemes should be considered by British owners not onjy with ship owners of other countries, but also with the bankers and other interests concerned.