AMERICAN SHIPPING

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

AMERICAN SHIPPING

: TONNAGE IN AIHTINCE OP DEMAND , Referring lb' shipping/matters in New Tork a shipping firm of that city, in tin advice, states that more than enough tonnaga is being supplied by the various . lines. This means that some of tho steamers are going out only pnrfly full niid all of tliem are detained on tlie ■ loading berth for longer than the usual jioriods. The lines are convinced that a reduction in rates would not develop ony more business, mull they sta;fc that ittnder present operating costs, it womd mean severe losses if any reduction should fake place. This is quite evident from the very high cost now iiiling in connection with the operation :of steamers',. and quite a teTge number- of them have been laid .up. at the docks in •preference to operating at present rates. The . outlook for the coming winter r is plenty , of tonnage, but. they can .see no indications of a reduction in rates._ After a long period ,o£ profitable the steamship companies now are entering, upon a period when it will be diffioulti to' make even operating expenses, and leave but little, if anyj profit to the owners'. In nil parts of tho world it is. found that the labour element is entering! very deeply into the cost cf steam- ' ship business, 'and .-with higher costs ami lower- efficiency there c;\ji. bo but one" result in tho final otltcome of all trade.-- ' :