REFRIGERATED CARGO

Poverty Bay Herald, Volume LX, Issue 18180, 30 August 1933, Page 7

REFRIGERATED CARGO

FREIGHT RATES REDUCED PROVISION FOR BLUE STAR LINE (Pm; Praia Assoditlon.) WELLINGTON, last night. Cabled advice of tho main terms of the new refrigerated cargo freight rate /contracts with the shipping companies was received to-day by the Dairy and Meat Boards. No official statement regarding tho terms was available today, as cable messages had -to be sent to London for the confirmation of some figures. It -is authoritatively stated, however, that the new freight rates, which ■will operate from Friday, represent a .reduction of approximately 7 per cent on the present rates. In the case of butter, the rate, iwhich is now -4s per- box less 15 per cent, Will be 4s less 21 per cent t It is estimated that the annual saving on dairy produce represented by the new rates will be approximately £124,000. The new contract carries other provisions relating to the rates of exchange, New Zealand on London. The Produce Boards will carry, as at present, the YulFeost- over 10 per cent-' of re : nuttiny:funds ofi London, the shipping companies carrying 10 per cent. In the hew contracts, however, it is understood ’that there is provision that,, if the exchange rate falls below 10 per cent, the cost will be borne by the boards and the shipping companies in a certain definite proportion. 7%e new conrtracts provide that the Blue Star Line will have a share, stated to be 10 per cent. It is understood that .the Blue Star Line will shortly open offices in Wellington and at other seaports in New Zealand. The first homeward loading from the Dominion by the line will be made by the big motor ship Tuscan Star in November.

AGREEMENTS COMPLETED (Klm. T«l. Copyright—United Pren Ann.) (Received August 30, 11 a.m.) LONDON, August 29. The new tliree-vear freight agreements respecting New Zealand meat and dairy produce have been completed. The rates are substantially reduced. Full details have been cabled to • the respective boards