AMERICAN SHIPPING

Wanganui Herald, Volume LIII, Issue 160812, 20 November 1920, Page 2

AMERICAN SHIPPING

TONNAGE IN ADVANCE OF DEMAND.

, \ NO REDUCTION IN RATES... Referring to shipping matters in New York a shipping firm of that city in an advice state that more than enough tonnage is being supplied by the various lines. This' means that some of the steamers are going out only partly full, and all of them are detained on the loading berth for longer than the usual periods, ' The lines are convinced that a reduction in rates would not develop any more business, and they state that under ‘present operating costs, it would mean severe losses if any reduction should take place. This is quite evident from the very high cost now ruling in connection with the operation of steamers, and quite a large number of them have been laid up at the docks in preference to operating-at present rates. The outlook for the coming winter is plenty of tonnage, but they can see no indication of a reduction in rates. After a long period of profitable business, the steamship companies are how entering upon a period when it will lie difficult to make even operating expenses, and leave but little, if any, profit to. the owners. In all parts of the world it is found that the labour element is entering very deeply into the cost of steamship business, _ and with higher costs aiicl lower efficiency there can be but one result in the final outcome of all trade. 1