FALL IN FREIGHTS

Wanganui Herald, Volume LIII, Issue 160811, 19 November 1920, Page 5

FALL IN FREIGHTS

DOWNWARD MOVE CONTINUES,

Received—Nov. 19, 8.45 a.m, LONDON, Nov. 17. Freights continue to fall. The decline in the past six months has averaged over 40 per cent., and there are signs that the downward movement has not ended. The cheapening of rates is due to the quicker recovery of the world’s shipping from the influences of the war than its productive machinery, and consequently more tonnage is available than goods for transport. The donward tendency is likely to continue at least temporarily owing to the fact that several million tons of new shipping are being completed in Britishxand foreign yards in the course of 1921, but the limit may be reached when the owners find it necessary to lay up tonnage until the economic recovery of Europe provides more goods for transport.