Shipowners in Conference In the scheme of Government assistance to
the condition was laid down that British merchant shipowners should co-operate not only among themselves but also with foreign organizations of shipowners. It is with the latter object that prelim- inary meetings are being held in London to prepare the ground for the forthcoming International Shipping Con- ference. Many foreign owners, even in countries where large subsidies are paid, are anxious to put their industry on a self-supporting basis. The drafting committee is exploring the possibilities of a rationalization of tonnage with a view to preventing the forcing of surplus tonnage on the market, and they have before them the records of oil tanker owners who last year agreed to set aside a proportion of frtight earnings to compensate owners of unemployed vessels. They are also considering plans prepared by the Baltic and International Maritime Conference. There will have to be some sacrifice of interests on all sides if agreement is to be reached, but without international co-operation the chaos will become . worse and the British scheme of subsidies will merely intensify the economic war, with our own side armed, or partially armed, for the conflict.
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