The Shipping Slump

Hokitika Guardian, 15 June 1921, Page 3

The Shipping Slump

MANY VESSELS LAID UP.

DUNEDIN, June 13

That a shipping slump is now being experienced in New Zealand and Australia, as well as in most other coun■tries in the world, is proved by the fact that many companies are laying up ships at various ports, and that some of those still running are not carrying their full tonnage of cargo. Dunedin, like other New Zealand ports, is feeling the pinch, as is shown by the fact that during the past few days several coastal steamers cleared the port with only a few tons of cargo under hatches. One vessel in particular arrived here towards the end of last week from the north and was in port only a few hours; in fact the amount of cargo offering was so small that she was discharged and loaded in an hour or two.

Many vessels are making the voyage from United Kingdom ports to New Zealand in ballast, which is due to the fact that very little cargo is offering at Home. The Karnmea which arrived at Dunedin on ,lune 4tli. from London was only partly loaded. There does not appear to he ‘Vniich likelihood of an improvement for some time, and sooner than run their ships at a loss (which several companies are doing at tho present moment), many firms have withdrawn vessels from various trades and laid them up indefinitely The Union Company has ten steamers at prevent at Port Chalmers, five of which have been placed on the lay-up berth, owing to the slump in the shipping market. Other vessels of the Union fleet laid up are the Taltme and Nnvua at Auckland, and the Rosamond at Wellington. The small steamer Kota re, owned by a Dunedin syndicate has been withdrawn from the southern trade and laid up here indefinitely. The depression is being felt not only by the companies and agents, but also by many of those who follow the sen for a living. The laying up of so many ships means that other berths have to he found for the officers and engineers, while sailors, firemen and trimmers and stewards have to seek for berths on other ships or look for work tashore.. During Hie past w«ek the services of a number of men employed at the marine repair works at Port Chalmers have been dispensed with. This shortening of staff is said to indicate a curtailment of shipping work for some time to come.