BRITISH SHIPPING

Waikato Times, Volume 127, Issue 21185, 7 August 1940, Page 8

BRITISH SHIPPING

LOANS TO OWNERS ASSISTANCE AFTER WAR ARMING OF MERCHANTMEN (Omclal Wireless) (Received August 7, 3.15 p.m.) RUGBY, August 6 The Minister of Shipping, Mr R. H. Cross, interviewed, said the Government recognised that British merchant shipping had fallen into a deplorable state since the last war, which never should be allowed to occur again, and in terms of the financial arrangements with British shipowners regarding the requisitioning of ships—now made public in a White Paper—it was tried to envisage assisting British merchant shipping in peace conditions after the war as well as during the war. Loans to shipowners towards the cost of vessels had reached a total of nearly £5,000,000 in respect of 55 ships, of a gross tonnage of 239,882, while grants for building new cargo vessels were estimated to affect 64 owners and about 100 vessels.

Mr Cross added that regarding the general shipping situation the fact that not only a large amount of Allied shipping has been released for British use after the German invasion of the low countries but also the liberation of merchant tonnage after the collapse of France balanced the necessity, resulting from the changed sea conditions in northern waters and the Mediterranean, for making a longer voyage with a larger average run to bring essential goods to Britain.

Mr Cross also stated that steady and accelerating progress is being made with arming British and Allied merchant shipping.