SHIPPING.

Taihape Daily Times, Volume XI, Issue 3487, 15 May 1920, Page 5

SHIPPING.

. l PROFITS OF FEDERAL STEAMERS Twenty steel cargo vessels have been built for or are under construc~ tion in Australia, for the Federal Government. Four "were allotted to Williamstown, two to Cockatoo Island, six to Walsh Island ,four to a firm in Quensland, and a similar number to a South Australian. constructor. Six of the vessels have been launched, and the remainder will be launched before the end :of the year_ The Dromana, the first vessel launched, cost £168,976, or £l3 14/6'per ton, but after making allowance for the heavy initial cost of the first vessel, it is expected that the cost of the other vessels will be reduced. The Commonwealth authorities have been advised that the Dromana could be sold for £200,000, or an advance of nearly £6 per ton. The fleet of 15 cargo vessels purchased by the Prime Minister in 1915 cost £2,052,654, and against the loss on the ‘construction of the wooden vessels, the profits made by the whole of the Commonwealth's boats amounted to £3,520,320 in less than three years. Adding the profit made by working the ex—German steamers, the gross profit was £6,303,793. The total fleet now comprises 38 vessels.

ibuilt in Ausgtralia, contracts have been let in England for the construction of five twin-screw geared turbine steel steamefé, with a deadweight of about 12,180 tons. The firice to be paid has not yet been fixed, but it will be based on the aggregate of costs and charges, particularly specified, plus--251: per cent. to cover overhead charges and profit. The first vessel should be ready for delivery 18 months after approval of the plans; "the second in May, 1921; the third in June of the same year, and the two others are to be delivered in the following September.