SUBSTANTIAL RISE

Otago Daily Times, Issue 26607, 1 November 1947, Page 6

SUBSTANTIAL RISE

COASTAL FREIGHT RATES APPROXIMATELY A THIRD EXTRA PA AUCKLAND, Oct. 31. Substantial increases in coastal freight rates will be introduced tomorrow to replace the subsidy provided by the Government, the new charges ranging from about 20 per cent, to more than 50 per cent, above those ruling in the past. The attitude that Uic increase is considerably overdue was taken by the companies, who stated that _ the new rates had been approved officially. The president of the New Zealand Shipowners’ Federation, Mr K. McLeay said that the substantial increases were “ to Keep the shipowners on an even keel.” He agreed that a considerable sum was involved, but he would not disclose details. ~ New Zealand’s largest cargo fleet, that of the Union Steam Ship Company, will charge rates varying from 33 1-3 per cent, to 45 per cent, above those charged in the past, and the Auckland Coastal Company’s rates will vary, according to the particular trade, from 20 to 50 per cent, more than past schedules. The increases in the mam, however, will be 33 1-3 per cent., with others from 40 and 45 per cent. Another company will charge nearly 50 per cent, more, slightly more than £2 10s being required to carry a ton of freight less than 400 miles. The new rates have not yet been 'completed and the shipping companies at Auckland as well as the branch office of the Price Tribunal have received a host of inquiries from consignors since the Shipowners’ Federation announced early this week that the charges for coastal, intercolonial and Pacific Islands cargoes would be increased. 1