DANGER OF SHIPPING SLUMP.
SHRINKING TONNAGE IN BIUTAIN. LONDON, October 12. The ship-building industry has passed beyond the stage politely called recession; it is on the verge of a slump, says The Financial News. Lloyd's returns for the third quartet show that the tonnage under construction is 885,481 compared with 1,037,000 for the previous quarter. Moreover, the Clyde received only 30,000 tons of new orders in September,
It appears that tho tonnage uudoT construction will be only 750,000 at th<» end of the year arid may he as low •« 500.000 by the noddle of 1939. The slump in Britain is a contrast with ihe expansion in Tialv, Germany. Fai ui and America and the steadiness i'f Scandinavia;.
T e Shipping World declares thai th* industry is faced with disaster unless "'"re is speedy Government intervention.
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Bibliographic details
Western Star, 14 October 1938, Page 3
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135DANGER OF SHIPPING SLUMP. Western Star, 14 October 1938, Page 3
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