FAST PACIFIC LINERS
MATSON COMPANY’S PLANS THREE NEW VESSELS (Australian and N.Z. Press Association) SAN FRANCISCO, Saturday. The vice-president of the Matson Line, Mr. Dieux, announces the following plans for the replacement of the Sierra, Sonoma and Ventura. “The designs for the new Australian liners have been approved by the Navy Department and the Shipping Board, and tenders will be called for shortly. The vessels will be rated in Class 2, under the Jones-White Act, and will be capable of a sustained sea speed of 20 knots “It is expected that the vessels will cost about £2.600.000, and a substantial loan at a low rate of interest will be made by the United States Shipping Board out of its £50,000,000 loan fund credit under the Jones-White Act. “The liners will mark the first step by our company to revive the American merchant marine in the Pacific with the aid of the Government under the new law.”
The largest loan yet authorised under the Jones-White Shipping Act was granted recently to the American Line Steamship Company by the United States Shipping Board, for the construction of a palatial combined passenger and cargo steamer to cost approximately £1,400,000. The maximum amount authorised was 75 per cent, of the total, provided the loan did not exceed £1,050,000.
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Bibliographic details
Sun (Auckland), Volume II, Issue 515, 19 November 1928, Page 9
Word Count
214FAST PACIFIC LINERS Sun (Auckland), Volume II, Issue 515, 19 November 1928, Page 9
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