THE new volumes of Lloyd's Register of Shipping which have just been published record the very interesting fact that during the past year the total tonnage of the world has been increased by 408,540 tons, nearly three times as big an increase as in the previous year.

This is the result partly of new building and partly of a falling off in the breaking up of old tonnage. Shipowners find cause for congratulation in the fact that freights have been found for so many additional ships. To the Life-boats it may mean more calls on their services..