Refrigerated Ship Building For N.Z.-East Indies Run

Press, Volume XCV, Issue 28261, 26 April 1957, Page 19

Refrigerated Ship Building For N.Z.-East Indies Run

(New Zealand Press Association)

AUCKLAND, April 25. A new refrigerated ship costing about £750,000 is on order by the Union Steam Ship Company for its service to Indonesia, Malaya, and India. When the vessel comes into service about the middle of next year, the company expects to run a regular monthly service to the East. This announcement made in Auckland yesterday by the general manager of the company, Mr H. H. Dobie. The Union line is already running approximately a five-weekly service to Indonesia and Malaya, with its two refrigerated ships, the &923-ton Wairimu, and the 5282-ton Wairata, both of which have 20,000 cubic feet of refrigerated space. The new ship, which will be named Waikare, will have similar refrigerated space. She is expected to be about 5000 tons gross, with a speed of 13 knots. She is being built at Glasgow. The company also has under construction a 2450-ton refrigerated ship.

JAPAN LEADS AS SHIPBUILDER

Britain Still In Second Place (N.Z. Press Association Copyright) LONDON, April 23. Japan continues to be the world’s leading shipbuilding nation, according to Lloyd’s register of shipbuilding returns for the first quarter of this year, issued today. Japanese shipyards’ output was given as 586,545 tons launched, and 481,172 tons completed during the quarter. This compared with 224,945 tons launched and 349,303 tons completed by the ‘ United Kingdom in the quarter. The loss in British production caused by the shipyard strike was roughly assessed at about 60,000 tons. Apart from China and Russia, for whom figures were still not available, shipbuilding work in hand throughout the world totalled 1598 ships of 8,381,697 tons gross. Included in this total was Britain, topping the list with 348 ships of 2,036,262 tons (a decrease of 48,956 tons over the previous quarter). Work in Progress _ Japan followed with 161 ships of 1.433,853 tons (an increase of 69,645 tons); Germany, 856,914 tons (increase of 58,142 tons); Italy, 668,660 (increase of 11,131); France, 494,919 (decrease of 3980); Sweden, 482,226 (decrease of 2992); United States, 365,445 (increase of 46,961); Denmark, 154,138 (increase of 6580). Oil tankers under construction totalled 277 ships of 3,729,134 tons gross, which was 285,735 tons more than the previous quarter, and represented 44.5 per cent, of the total tonnage under construction in the world. Major builders of tankers were the United Kingdom, with 68 of 877,110 tons; Japan, 50 of 832,290 tons; Sweden, 17 of 306,190 tons; Italy, 20 of 305,440 tons; United States, 13 of 271,190 tons; Netherlands, 14 of 218,200 tons; Norway, 20 of 209,173 tons; Germany, 29 of 137,774 tons. OVERSEAS STOCK EXCHANGES The London and New ' York Stock Exchanges reopened after the Easter recess on Tuesday, when both markets were firmer. The Sydney and Melbourne exchanges will reopen today, and the New Zealand exchanges on Monday. Sales and quotations on the London Stock Exchange on Tuesday included:—A.N.Z. Bank, buyers 375, sellers 38s; C.8.A., 14s, 15s; E., S„ and A. Bank, 30s 9d; Nat. Bank Aust., 27s 6d, 28s; Bank N.S.W., £2B 10s, £29 ss; British Tobacco, 27s 9d*; Golds. Mort., 26s 3d. 27s 3d; Dalgety, 14s 4 1 / 2 d* and Nat. Bank N.Z., 29s 6d, 31s; Loan, Merc., ord. stk., 235, 245; P. and O. (mid-price), 36s 9d.

•Sales. Wednesday’s business in mining securities included:—Broken Hill South, 765; Broken -Hill Pty., 395; Consol. Zinc, ord., 85s 3d, and pref.. 14s; New Broken Hill, 57s 3d; Mount Isa, 29s 6d.

GOOD U.K. DEMAND FOR LAMB

The Easter trade for lambs at Smithfield was good last week, according to the Bank of New Zealand’s weekly report from its London office. Consumption of New Zealand lamb is better than in previous years because the English season is late, the bank says.

An ample supply of chilled beef followed the resumption of work on British docks. Prices fell 2d to 4d per lb as a result of the increase in supply.

STOCK SALE Teniuka

(From Our Own Reporter) TIMARU, April 24. The demand for the 120 fat cattle offered today was very sluggish, with values barely steady. The short entry of fat sheep met a firm demand. Tail-end lots made up the medium entry of store sheep, with values more than firm. Values were:—prime steers, £26 to £29 12s 6d; medium steers, £22 to £25; light steers, £l6 7s 6d to £2l; prime heifers, £2O to £24 12s fid; medium heifers. £l7 to £l9 17s 6d; light, £lO to £l6 2s 6d. Prime cows, £l3 to £l6 17s 6d; medium cows, £lO to £l2 17s 6d; light, £7 to £9 7s 6d. Fat sheep:—prime wethers, 100 s to 112 s: medium wethers, 90s to 97s Id; light wethers, 80s Id to 87s lOd; prime ewes, 55s Id to 62s Id; medium ewes, 47s to 54s Id; light ewes, 40s Id to 46s Id.

Store sheep:—Woolly wethers, 49s to 61s; shorn wethers, 45s to 57s 6d; full-mouth ewes, 59s to 655; rape ewes, to 395.

the Tarawera, which will be used for carrying fruit from Australia, and to augment the regular island trading service carried on by the Matua and Tofua. The Tarawera is expected to cost more than £500,000. She will have 102,000 cubic feet of insulated space, and a cruising speed of 13i/ a knots. The vessel’s keel has already been laid in a Hong Kong shipyard, and delivery is expected in July of next year.