NEUTRAL BUYING OF SHIPS.

Manawatu Herald, Volume XXXVIII, Issue 1633, 4 November 1916, Page 2

NEUTRAL BUYING OF SHIPS.

SOME remarkable ship-pnrehase transactions have been carried out for Norwegian linns. Apart from the buying of shipyards in the United States, orders for new ships have been placed there for Norwegian aecount; on terms which British owners consider absurdly high. Thus, for an ordinary cargo steamer to he delivered in 18 months as much as £3O a ton is being paid. Before the war a vessel of similar character could h ave been built in Britain comfortably for £7 or £8 a tun. Norwegians are also paying mormons prices for Japanese sicamci's. Thus, for a new steamer just ready for sea—the Meikai Mani —£2oo,ooo was paid, which is equivalent to £4O a ion on the deadweight. For another new Japanese steamer —the Tolei .Mara —of 5,100 tons deadweight, £IOO,OOO is being paid, equivalent to about £37 a ton. Another striking case is that of a. steamer built in Japan for delivery in November at a contract price of about £1.00,000. Sin; has been resold for £375,000, showing a profit to (he owner of £275,000 and representing a price of £35 a ton. Prices such as these indicate (he fabulous prolifs which arc being earned by neutrals.