Troubled Waters
At the beginning of this century Britannia really did rule the waves. Britain possessed the largest merchant fleet in the world. Developed initially as a bus-service carrying trade between the outposts of the Empire it had become a vast money-spinning industry. Although no longer as dominant, it is still highly successful. Last year it helped keep the country out of the red by bringing in £1,000-million in foreign exchange earnings.
But on the horizon loom two major threats. Firstly, the developing world is no longer content to spend its limited foreign currency buying our shipping services when it could do the job itself. Secondly, the Russians are moving in. Using competitive techniques which British shipowners describe as ' unfair', they are steadily carving their way into the market to a point where many Western shipping companies are in danger of going to the wall.
Tonight Andrew Neil and William Woollard look at why all this is happening and what, if anything, can be done about it.
Film editor ALASTAIR MACKAY Studio director JOHN GORMAN Producer JOHN GROOM
Editor MICHAEL BLAKSTAD