SHIPPING BOARD FOR AUSTRALIA
INQUIRY SUGGESTED INTO LOSSES CANBERRA, Feb. 23. The Federal Auditor-General (Mr A. C. Joyce) has suggested a special investigation of the “magnitude of the Australian Shipping Board's continuing losses.” In his annual report, tabled in parliament, he recommends that a special committee should make an investigation. ' The Board lost £2,548,102 on its operation of Commonwealth-owned and chartered ships in the year ended on June 30, and £1,843,038 in the previous year. The losses were attributed by tlie management to the unsuitability of chartered tonnage, the necessity of maintaining unprofitable voyages in the Commonwealth’s in terests, and factors such as increases in operating costs, disputes and the slow turn-round of ships. . The accumulated losses on requisitioned tonnage were £10,945,630, though all the requisitioned vessels were returned to their owners by the end of 1948.
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Ashburton Guardian, Volume 70, Issue 112, 24 February 1950, Page 3
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137SHIPPING BOARD FOR AUSTRALIA Ashburton Guardian, Volume 70, Issue 112, 24 February 1950, Page 3
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