SHIPPING FREIGHTS

Dominion, Volume 14, Issue 48, 20 November 1920, Page 10

SHIPPING FREIGHTS

FALL REPORTED ABROAD POSITION OF REFRIGERATED CARGO

■ A cablegram from London mentions ' that shipping freights aro continuing to fall. "The decline in the past six months lins averaged over 50 por cont.," says tho message, "and there.aro signs 'that the downward move has not ended. Tho '. cheapening of rates is dno to tho. quicker recovery of' the world's "shipping from -the* influences of war than its productive mnqjiinery." P: .Tho position as Jar. as general tonnage la concerned is that the world has mado a/very quick recovery from the heavy " "losses of 'shipping during the war years, building in Britain, and to a -smaller extent in America and other countries, end of tho war has ■ mado good_tho losses.' In "fact, the replacement of shipping, as'indicated in tho cablegram, has proceeded faster than the.restoration of trade', with the result that sliigning companies have had to lower their rates. > " r ' • Tho movement of freights , was refiect- ' ed some time ago in the demand for ' tonnnso. lt has been possible, lately to 1 b;it chips moro chnaply than at any time during the Inst five years. "Tho . hoped-for revival in the demand for ton-

_ jiage. has so far ehown little sign of imaterislising," sjiid the "Bulletin of. the . JJepnTtmont of Oversea'jTTrade" recently. •"This is, no doubt, partly duo to the constantly inereaßincr nupplv of. tonnage available, and partly to tho threat of a coal strike: but, whatever tho root cause,'there has been of late soino talk ■ of cancelling contracts for cargo shipbuilding, which, from the point'of. view of some of tho owners, might not be altogether undesirable." _ . Tho reported reduction of freightsdoes not; necessarily or even probably mean that New Zealand is going to get very much benefit, . for the feimplo . reason,

that tlio- surplus shipping is not refrigerated shipping: T]ie charges .'that afa feet tho people of this country most are those levied on meat and dairy produce. The number' of ships fitted for carrying frozen produce does not appear to have ■ increased in proportion to the general innTcnso in tonnage, uiul these ships necessarily provide the channel for most 1 of New Zealand's trado./