BUSY BRITISH SHIPYARDS
ACTIVITY IN WARSHIP BUILDING IMPROVEMENT IN TRAMP EARNINGS British Official Wireless (Received March 31, 6.30 p.m.) RUGBY, March 30. Warship building continues to be the backbone of the Clyde shipbuilding industry. Some forty war vessels of various types are now in the course of construction on the Clydesid i. This number Is likely to be greatly augmented in the near future. There Is still a lull in merchant tonnage. The total Clyde output for the year so far is 21 vessels of 61,203 tons. Improved Business The annual report of the Chamber of Shipping states that the striking recovery of tramp freight rates last year was sufficient, on the average, to fair return or capital and a contribution towards making good the arrears of depreciation with which the industry was burdened at the end of the depression. The recovery reached its peak in September and from then onwards there was marked recession in all markets. Building costs have greatly increased and doubt is expressed whether the present rates in the markets as a whole, with the present volume of employment, are sufficient to provide even for depreciation.
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Bibliographic details
Timaru Herald, Volume CXLIV, Issue 21001, 1 April 1938, Page 9
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190BUSY BRITISH SHIPYARDS Timaru Herald, Volume CXLIV, Issue 21001, 1 April 1938, Page 9
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