SHIPPING COSTS.
A SERIOUS POSITION MODERATE PROFIT IMPOSSIBLE STRONG MERCANTILE MARINE United Press Assn.—Elec. Tel. cooyrlgbt LONDON, August 25 “The cost of shipbuilding makes it practically impossible for shipowners to hope for even a moderate profit,” said Lord Craigmyle, formerly the Hon. Alexander Shaw, director of the P. and 0. and other shipping companies, in a speech at Leith. “ It is imprudent to lay down ships at to-day’s prices,” added Lord Craigmyle. “ Accordingly, shipowners arc compelled to curtail, even to stop, building until the co-sts are more moderate. “ The recovery of shipping has been considerably exaggerated in certain quarters, although tramp shipping has already benefited from the trade expansion. “ The most favourable omen is the recognition by the Governments of Britain and the Dominions of the importance of a strong mercantile marine.”
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Waikato Times, Volume 121, Issue 20283, 27 August 1937, Page 7
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132SHIPPING COSTS. Waikato Times, Volume 121, Issue 20283, 27 August 1937, Page 7
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