SHIPPING AFFAIRS.

Otago Witness, Issue 3595, 6 February 1923, Page 23

SHIPPING AFFAIRS.

DANGER OF RATE WAR REMOVED. LONDON February 1. The Board of Trade announces that an agreement has been reached on ail cardinal points in the shipping dispute, subject to adjustment in regard to minor details, thus ensuring friendly co-operati"n between the conference and the Commonwealth Lines, and eliminating the possibility of a ra-te war. The agreement is in harmony with the recommendations of the report of the Imperial Shipping Committee. February' 2. It is understood that the conference lines are reducing rates to harmonise with the Commonwealth line’s freights. Tile conference shipping line announces a reduction in freights to Australia for fine and rough measurement, packed close weight of 10s per ton. Other special rates are under consideration. The reduction will be retrospective from January 22. The question of homeward freights is still under consideration. AMERICAN TRADE WITH AUSTRALIA. NEW YORK. January 29. Pacific Coast advices state that leading steamship and commercial interests there are gathering data relative to American trade with Australasia, with the idea of asking the United States Shipping Board to provide additional tonnage for the Australian route. A memorial is being prepared for submission to the board. THE COMMONWEALTH LINE. SYDNEY, February 1. The Commonwealth Line has caused concern in conference shipping circles by announcing its intention to utilise its idle ships by entering the American trade. Cargoes of wool will be carried at gd per lb cheaper than by the conference line. February 2. The Commonwealth Line has further announced that it intends instituting a direct service from Sydney to Hull with wool, and thence to Continental ports. Tt is anticipated that the whole of the idle tonnage of the Commonwealth Line will be requisitioned as a result of the new service’ parting.