THE WORLD’S SHIPPING.

Otago Witness, Issue 3527, 18 October 1921, Page 21

THE WORLD’S SHIPPING.

REGAINING PRE-WAR TRADE. WASHINGTON, October 8. i An official review of German shipping j shows that Germany is regaining her j South American trade. Seventeen Hamburg companies are operating profitably, while American ships are barely paying expenses. The Germans are exporting largely to Brazil, Argentine, and Mexico. The report states that a number of British and American ships are being repaired in Germany, because the work can be done 30 per cent, cheaper than in New York. DECREASE IN BRITISH TONNAGE. LONDON, October 10. Lloyd’s Register states that the shipbuilding returns show that the tonnage which was commenced in the United Kingdom in the third quarter of 1921 only amounted to 51,353, a decrease of 455,000 compared with the last quarter of 1920. This is regarded as an indication of a very unfavourable outlook for the immediate future. October 12. Lloyd’s Register discloses that the heavy slump in the world’s shipbuilding continues. Three million two hundred and fifty thousand tons of merchant shipping was being constructed in the United Kingdom at the end of September, a reduction of 1,000,000 tons compared with the previous quarter, but delayed and suspended tonnage amounts to 1,250,000, leaving only 2,000,000 actually being constructed. The total tonnage building abroad is 2,250,000, but nearly 500,000 of that is suspended tonnage. The countries most affected by the suspensions are Italy and the United States.