SHIPPING FREIGHTS.
VARYING POINTS OF VIEW. (By Telegraph. Press Association.) WELLINGTON, Friday. "What about shipping freights?" interjected a member of the Y Club in the course of an address by Mr Elmslie, British Trade Commissioner, at the club's luncheon. Mr Elms-lie replied that freights were, if anything, down too low now in proportion to working costs. In some trades, indeed, in which there was more competition than in others, freights weire lower than pre-war rates, in spite of high working costs. The questioner stated that articles that cost £7 10s ci.f. cost £ls f.o.b. Was that fair? To Mr Elmslie: It depends upon the bulk of the goods? The questioner: Timber? Mr Elmslie: Timber, of course, is very bulky cargo. Although freights are high to-day shipping companies, because of higher wages and higher running costs generally, were carrying goods at a loss. Only a few lines were paying at anything like the prewar rate. A voice: £IOO shares of some of them, P. and O. for example, are selling at £350. Mr Elmslie: Yes, but that was the case before the war. The P. and O. Company has such large reserves that if it laid up all its ships it could still pay'lo per cent dividend on its capital without doing any shipping at all.
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https://paperspast.natlib.govt.nz/newspapers/WAIPO19231020.2.33
Bibliographic details
Waipa Post, Volume XXIV, Issue 1418, 20 October 1923, Page 5
Word Count
215SHIPPING FREIGHTS. Waipa Post, Volume XXIV, Issue 1418, 20 October 1923, Page 5
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