§ Mr. Austin MitchellTo ask the Chancellor of the Duchy of Lancaster what is his estimate of the potential new orders for merchant shipping construction in 1987, 1988, 1989, 1990 and 1991.
§ Mr. NewtonWorldwide new orders for merchant shipbuilding in 1987 are likely to have been some 10 million compensated gross tonnes. The widely respected Association of Western European Shipbuilders has just revised its forecast for world demand for the period 1990–95 from an annual average of 19 to 12.5 million cgt. 699W I expect a modest and probably quite gradual improvement in overall demand along these lines between 1987 and 1991. However, since this level of demand is well within world capacity competition is likely to remain intense.