RECORD SHIPMENTS

Poverty Bay Herald, Volume LX, Issue 18257, 28 November 1933, Page 5

RECORD SHIPMENTS

NEW ZEALAND PRODUCE SO SHIPS IN 120 DA VS INDICATION OF R HOOVERV (Per Press Association.) WELLINGTON, this day. Grounds for a belief that economic conditions generally arc improving tiro provided by an examination of. the state of the shipping industry, which provides one of llie most reliable barometers of trade. This holds good, not only for world trade, but also for the position of any one country. During the past few months, New Zealand coastal shipping companies have been handling far more cargo than lias been the ease for some considerable time. A number of vessels which were- laid up owing to slackness of trade have, in recent months, been brought, back into commission, while ships that for several years past have been running with half their cargo space empty are now carrying capacity, or near capacity,- cargoes. A number of coastal vessels are still laid up, but a majority of tnose are old tonnage, uneconomical to run, and will probably never be brought back.

This increase in the quantity of cargo handled is reflected in the ini - proved returns of almost every New Zealand Harbor Board in recent mouths.

So far as Now Zealand export trade is concerned, the season is now approaching its peak period, and promises) for actual tonnage shipped overseas, to be a record one. The number of overseas vessels allotted to load for the United Kingdom during December and January is in excess of normal, while the numbers lor January and February and February and Mareli will be heavier than ever before during that period. From December to March, over 50 vessels will leave New Zealand ports for England with capacity cargoes. in addition to these regular traders to the United Kingdom, nearly 30 ships, including regular mail liners to San Francisco and Vancouver, will carry cargo from New Zealand to Great Britain, the Continent, the United States, Canada, Canada, and Japan. This huge total of 80 ships in approximately 120 days entirely excludes those taking cargo both for Australia and for transhipment from Australia to other countries.

OPTIMISM IN BRITAIN

REFLECTION OF OTTAWA MORE VESSELS BUILDING (Received Nov. 28, noon) LONDON, Nov. 27. Shipping men say that convincing signs exist that trade with the Dominions is increasing, attributable to the Ottawa agreements, particularly refrigerated shipping from Australia and New Zealand, in which the.tonnage employed is much larger than last year, while the River I‘late is suffering severely. The situation in British shipyards is the brightest for three years, despite the competition of subsidised foreign lines. The improvement is chiefly due to Australian and New Zealand orders, lor which six first class vessels are being built. The Orient, Shaw Savill, Adelaide Steamship, and New Zealand Shipping Companies are building one each and the Blue Star two. The Blue Star intends' to have seven vessels trading to Australia and New Zealand within a year.

The Shaw, Savill’s new refrigerated ship will be 524 ft. long, with a 70ft, beam, and contains 500.000 cubic: feet ol insulated space. Including £71,061 brought forward, the Orient Steam Navigation Company’s profit balance is £213,567, from which it is paying preference dividends and also a 5 per cent, ordinary dividend, and carrying forward £79,263. The Peninsular and Oriental Company, after providing for the depreciation of the fleet, has a credit balance, including £129,274 brought forward, amounting to £306,616, of which the preferred dividend absorbs £152,000. The amount carried forward is £154,616.