WORLD'S SHIPS

Dominion, Volume 21, Issue 121, 20 February 1928, Page 9

WORLD'S SHIPS

TRADE INSUFFICIENT TO FILL THEM COMMONWEALTH LINE’S INFLUENCE REPORT OF CHAMBER OF SHIPPING By Telegraph.—press Association. Copyright. (Rec. February- 19, 5.5 p.m.) London, February 18.. ; Lamenting the disastrous effects of the coal strike and the poor passenger and cargo earnings, the annual report of the Chamber of Shipping disclosed that the conference generally proposed an increase in rates, but refrained in deference to the wishes of merchants and manufacturers. There is insufficient trade to fill the world’s ships, and shipping will continue depressed until the world realises what is the true economic policy and trades instead of barring trade by tariffs. Referring to the Commonwealth Line the report says it is a purely hypothetical claim that the line restrained freights and by reducing them by 10s. a ton in 1923 saved Australia two millions sterling. In any case, this saving was more than offset by depreciation and losses amounting to thirteen millions, which the Australian taxpaver makes good. The Commonwealth Shipping Board, unable to right matters, realised that profits could be. earned only bv increased fares and freights, but as the line had a disciplinary mission, ordinary business methods were ruled out. The report concludes by quoting the board’s doubt whether it is possible to retain both the Australian mercantile marine and the Australian seafaring conditions. In addition, it regrets that the Commonwealth has not adopted the Federal Accounts Committee’s recommendation to abolish coastal restrictions against Bi Itish ships, which are so foreign to the Empire spirit and damaging to Australian interests to such an extent that there is Blowing up. in Australia a demand for their abolition, especially as Australian tonnage is unable to fulfil local needs.—A.P.A. and “Sun.”