LOWER FREIGHTS

Hokitika Guardian, 30 August 1933, Page 5

LOWER FREIGHTS

FOR N.Z. EXPORTS UNDER NEW SHIPPING CONTRACT / (Per Press Association—Copyright). WELLINGTON, August 29. Cabled advice of tlie main terms of the new refrigerated cargo freight rate contracts witn the shipping companies was received to-day by the Dairy and Meat Boards. No official statement regarding the terms was available to-day, as caines had to be sent to -London tor confirmation of some of the figures It is authoritatively stated, however, that the new freight rates, which will operate from Friday represent a reduction of approximately* 7 ' per cent on the present rates.

In the case of butter, the rate, which is now 4s per box, less 15 per cent., will be 4s less 21 per cent. It is estimated that the annual saving on dairy produce represented by the new rates will be approximately £124,000. ' The new contract carries other provisions relating to the rate of exchange New Zealand on London. The produce Boards will carry, as at present, the full cost over 10 per cent of remitting funds to London, ;the . shipping- companies carrying 10 per cent. In the new contracts, however, it is understood there is a provision that if the exchange rate falls below 10 per cent the cost will be borne by the Boards and shipping companies in a certain definite proportion. The new contracts provide that the Blue Star Line will have a share, stated to be 10 per cent. It is understood the Blue Star Line will shortly open officers at Wellington, and other seaports in New Zealand. . The first homeward loading from the Dominion w*as to be made by the big motorship Tuscan Star in November.

NEW AGREEMENTS COMPLETED (Received this day at 11.5 a.m.) LONDON, August 29. The new three years’ freight agreements • respecting New ; Zealand meat and dairy produce have been completsui. The rates are . .substantially reduced, and the full'.details, have been cabled to the respective, Boards.