SHIPPING COMPANIES COMBINE IN CONTROL FEDERATION
TOKIO, july 23. Seveu of the principal Japanese shipping eompanies, ineluding Nippon Yusen Kaisha and Osaka Shosen Kaisha, have combined voluntarily in a control federation, embraeing 4,000,000 tons. Henceforth they will co-operate in the unification of charterage, the distribution of ships, and operation of tonnage to meet any shortage. They will also attempt to prevent an undue advance in freight rates. The members also aim at restricting the amount of profits. It is stated that the ship-owners ,prefer to formulate a voluntary control plan, in preference to some form of State control, which preparations for a semi-wartime economie structure are ,making inevitable through out the industry.
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Hawke's Bay Herald-Tribune, Issue 160, 24 July 1937, Page 5
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112SHIPPING COMPANIES COMBINE IN CONTROL FEDERATION Hawke's Bay Herald-Tribune, Issue 160, 24 July 1937, Page 5
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