SHIPPING NEWS

Te Awamutu Courier, Volume 25, Issue 3766, 8 June 1936, Page 6

SHIPPING NEWS

THE QUEEN MARY. CONFIDENCE IN HER FUTURE. London, May 2. Sir Percy Bates, chairman of the Cunard Steamship Company, at the annual meeting of shareholders held at Liverpool, referred to the Queen Mary and said:— “We know already from her trials that she constitutes an important advance in the economics of marine engineering and I have every reason to believe that she will prove a most profitable ship, first for her owners, Cunard and White Star, and through them for ourselves.” The chairman recalled his statement of five years ago, when the “two-ship policy” was decided upon. “Although,” he added, “conditions are far from normal, I still have the greatest confidence and belief that the step which the Cunard Company took in placing the order for the Queen Mary in December, 1930, was the right and proper one.

“Last year the rationalising of the tonnage to place the service on a more economic footing, steps were taken to retire both the Mauretania and Olympic from service, and they were eventually sold for breaking-up purposes. This year the company may be called upon to deal similarly with the Majestic.” Dealing with the Cunard Company’s accounts, the chairman said that the item of £378,291 representing income and £25,535 representing profit were slightly less than last year. Cunard White Star had suffered a loss for the past year of £61,000, which, by comparison with its experience in 1934, represented a considerable improvement. Four P. and O. Branch Liners to be Broken Up. Two important shipping transactions have just been concluded. One is the sale for breaking up of the P. and O. Branch Line 13,000 ton steamers, Balranald, Baradine, Barrabool and Bendigo, which, as already

announced are to be withdrawn from the service to Australia. The Bendigo has been purchased by Thomas W. Ward, Ltd., of Sheffield, the others by Glasgow shipbreakers. It is believed that the purchase price is about £26,000 for each ship. Ten Ship. Sold. The other deal is the acquisition of the remaining ten vessels of the Canadian Government Merchant Marine, Ltd., by a syndicate comprising Ellerman and Bucknail Steamship Company, Ltd., the Commonwealth and Dominion Line, Ltd., and the New Zealand Shipping Company, Ltd. The purchase price for the 10 is reported to be about £160,000. They are at present employed between Canada (St. Lawrence and Halifax) and Australia, and it is understood that they will be maintained in this service.