The Gisborne Times PUBLISHED DAILY, SATURDAY, JANUARY 8, 1927. A BEWILDERING SHIPPING BOOM!

Gisborne Times, Volume LXV, Issue 10230, 8 January 1927, Page 6

The Gisborne Times PUBLISHED DAILY, SATURDAY, JANUARY 8, 1927. A BEWILDERING SHIPPING BOOM!

Tlie producers of this Dominion have every reason to be thankful for the fact that their produce is being shipped under definite freight contracts. It may not he. generally known that, at present, there is a great shortage of shipping on the other side of the world and freights have, in the last three months, been rising by leaps and hounds. According to the “Daily Telegraph” (London) the boom in freights has assumed proportions not anticipated even by the most optimistic steamship owners. Rates in all trades, it says, are, to-day, substantially higher than they were a year ago, and, in several of the most important sources of employment for “tramp” tonnage, they are twice to three times as high as was the position in the middle of last year. Boats, it seems, are being sought everywhere and all that can engage in active employment in the longer homeward routes are being pressed into service. Many vessels that had been laid up for months are now again in commission and some that had actually Ifeen ordered to be broken up have been taken away from the ship-breakers after hurried repairs! It appears that the grain trades have been chiefly responsible for the new condition of things and the following comparative table as to freights is illuminating Oct. May 1926 192-6 River Plate—lLK. : 47/6 17/3 Montreal —Coat. : 400 I3|c Vancouver —U.K. : 40/- 33/6

, tt tc • 50/- 46/0 Australia U .K. • 13/7 Black Sea-Cont. : 27/But the enhanced demand for shipptag applies to coat trao.port ,£ » much as to the carnage °* 6™^ The freight, charge for coal jjom the United States to the United K« dom was around 13/6 per ton m May 17 towards the end of October it had soared to 36/6! If ■* ****££ for the fact that the produce from this Dominion is being earned under lone-term contracts, it is beyond question that freights between ISeu Zealand and the United would, weeks ago, have reflected the gemual advance along other shipping JL. So, after all, the producer Jfi this country has something thankful for, whenever he fpels inclined to adopt a thankful mood.