SALES OF STATE SHIPS

Dominion, Volume 13, Issue 193, 11 May 1920, Page 7

SALES OF STATE SHIPS

I OVER .£2,000,0(10 ESTIMATED PROFIT. Statistics supplied by the Parlkmentaiy Secretary to the Ministry of Shipping show that'the eales of ships built for account of tlio British Government have resulted .in a net estimated profit to the Government of ,£2,100,000. There were 260 ship 3 contracted for by the Shipping Controller in Britain for an estimated cost price of .£36,300,000. Thoso ships were sold for ,£47,900,000, showing a profit of ,£11,600,000. Of thaso shins, 15G vessels, for which ,£21,300,000 was paid, were Dough t by British owners for ,£28,300,000. lforoign owners paid .£19,600,000 for 101 ships costing, originally, ,£15,000,000. While a profit to the Government was realised in respect of ships built in the United Kingdom, a loss was incurred on account of ships built abroad. Contracts for 119 ships wero placed at a total price of .£26,800,000. Tho ships were sold for showing a loss of .£9,200,000. For eighteen of the ships costing an estimated price of £6,600,000. the sum of .£2,000,000 was paid by British owners, while foreign buyers paid £1-1,600,000 foi 101 ships costing originally .£19,800,000. In a footnoto to the accounts it is added that tho actual cost prices of tho ships cannot yet be' stated, as final accounts have not yet been received in all cases. A. supplementary table shows that 20 of the ships built wore sunk. In addition to the sliips built, contracts for 155 ships were transferred under agreements with Lord Inchcapo for distribution to shipowners generally, and the instalments paid woro refunded, and 120 contraots were transferred to tho builders and the instalments similarly refunded. There were also 129 contracts cancelled*