SHIPPING BOOM

Poverty Bay Herald, Volume LII, Issue 16211, 8 December 1926, Page 4

SHIPPING BOOM

FREIGHTS NEARLY TREBLED

BOATS RESCUED FROM SCRAP-HEAP.

LONDON, October 22. A shipping freight market correspondent writes to the 1 Daily Telegraph:— The boom in freights has assumed proportions not anticipated by the most ioptimistic steamship owners. Rates in jail trades are substantially higher than a year ago, and .in several of the most important sources of employment for " tramp " tonnage they are twico to three times as high as a few months ago. Boats are being sought everywhere, and alt that can engage in active employment in the longer homeward! routes are pressed into service. Many laidi up for' months havo been placed in commission, and some actually about to be broken up have been taken from the slupbreakers after hurried repairs. Tonnage values in the North Atlantic trades continue to advance with bewildering rapidity, and each day is witnessing enhancement that dwarfs the previous day's aehievmeut in the matter of securing a "record" rate. For coal from the United Slates to the United Kingdom, tlie value, which had advanced from around 13s 6d in May to 28s a week ago, has now reach 36s' 6d. The following table gives representative values in the more important grain trades, showing the extraordinary advance since a week ago, and the great improvement, on the average! for 1925: River Plate-U.K.-Cont. —Current 47s 6d; week ago 37 s 6d ; 1&25 average 17s 3d. Montreal-Cont.—4oc,—24c ;—l3-ic. Vancouver, etc. U.K.-Gont. —40s;—35s 9d ;—33s 6d. Australia-U.K. or Coiit.—sos ;—4ss ;—- 46s 9d. Black Sea-C'ont.--27s j—22s 9d ;--12s 7d;