SHIPPING INDUSTRY

Otago Daily Times, Issue 22122, 28 November 1933, Page 9

SHIPPING INDUSTRY

REVIVAL OF ACTIVITY INCREASE OF COASTAL AND EXPORT TRADE (Per United Press Association.) WELLINGTON, November 27. Grounds for the belief that the economic conditions generally are improving are provided by an examination of the state of the shipping industry which furnishes one of the most reliable barometers of trade. This holds good not only for world trade but also for the position, of any one country. During the past few months the New Zealand, coastal shipping companies have been handling far more cargo than has been the case for some considerable time. Many vessels which were laid up owing to slackness of trade have, in recent months, been brought back into commission, and ships which, for several years past, have been running with half their cargo space empty are now carrying capacity or near capacity cargoes. A ■ number of coastal vessels are still laid up, but the majority of these are old tonnage, uneconomical to run, and will probably never be brought back into commission. This increase in the quantity of cargo handled is reflected in the improved returns of almost every New Zealand harbour board in recent months.

So far as the New Zealand export trade is concerned the season now approaching its peak period promises, for the actual tonnage shipped overseas, to be a record. The number of overseas vessels allotted to load for the United Kingdom during December and January is in excess of the normal, while the numbers for January-February and FebruaryMarch will be heavier than ever before. During that period—December to March —over 50 vessels will leave New Zealand ports for England with capacity cargoes. In addition to these regular traders to the United Kingdom nearly 30 ships, including the regular mail liners to San Francisco and Vancouver, will carry cargo from New Zealand to Great Britain, the Continent, the United States, Canada, and Japan. This huge total of 80 ships in approximately 120 days entirely excludes those taking cargo both for. Australia and for transhipment from Australia to other countries.