THE CHINA MAIL, FRIDAY, APRIL 10, 1953.
Rapid Expansion Of Gold Rises in TRAMPERS
Japanese Merchant Navy Fleet
Expected
Tokyo, Apr. 9. Shipping interests here say that Japan,
Ups & Downs despite a recession in shipping, will continue post
In NY Cotton Market
New York, Apr. D. Cotton prices today rocked back and forth within a narrow margin of the previous closing levels. Trading moved along at a slow pace with the bulk of the interest sull entered in even- ing up operations in May delivery before first notice day
un April 24,
At the close, prices ruled points lower to 4 points higher May contructa showed the widest swing moving within a 13-point sange.
|
May
war expansion of her merchant navy feet during the 1953 fiscal year.
According to the Japan Shipowners' Associa- tion, Japan's immediate plans are to build up her fleet to 4,000,000 gross tons by 1957, with Japanese ships carrying 50 per cent of imported goods.
1951, Japanese chipa will be capable of 20 to 22 knots, carried 32 per cent of imported the first of such high speed to be goods; In 1852, 40 per cent. built in Japan since the end of
the war.
Japan owned 1,081
vessels totalling 2,783,017 gross tons at the end of 1952 compared with more than 6,000,000 tons in the peak your of 1040.
rate of
Aciation sold that shipping envned by Japan Increased by out 500,000 tons during 1952.
This year, Japen hopes for a similar increase In tonnage,
Her
expansion for exceeds that of.
the British merchant navy,
Applications have been made Leading spot interests bought
to the Transport 2,000 bales of around
Ministry for 51 ships aguinal equivalent July sales, permits to construct Market experts thought that the during the fint half of the spot month might go in a discurrent fiscal year. count of 35 to 40 points under The Ministry says that July unless the demand for spot Japanese chips runnlag on eleven cotion meks. up or the long major
Hinking awaited export demand actually Japan with foreign nations, are outnumbered by foreign "vessela materialises.
by 10 to tour.
This reverses
the prewar situation when the Japanese mer- chant fleet exceed the combined force of foreign ships on these routes.
A survey made by the Ministry
WINE
Agriculture Secretary Benson's dental that a subsidy on raw totion is being considered for the reseeable future received double edged interpretation netually had a little market
dis effect--the
dental appointing in some directions, but other quarters thought that the oficial statement removed an uncertainly and might en- courage buying by foreign ources which have been count- ing on a subsidy possibility.- United Pres.
NY Stock Exchange
Rea Jancs
of 30-
There
that
indientions are Japanese shipowners are turn- ing their attention to the op- parently more profitable round- the-world services.
is
Osaka Shosen Kaisha operating a round-the-world run once a month on the West-bound route via South America, while the Mistul Steamship Company is planning to extend its New York Une to Europe and return via Suez Canal,
WORLD ROUTES
The reason given by ship- owners for their sudden interest in world routes are:
1. There is not so much com- in this deld us, say, on New York run.
Paris
Parls, Apr: 9., Gold prices rose in Paris today in contrast with the continuing downward irezi ira other world, centres alnoo the Rumian PEROD moves, began last month,
Chief reason" for” tho opposite frend in Paris seemed to be the diflenit
financial position of The Government, shown today's sheet Franco.
weekly balance of the Bank of
The Napoleon Gold Coin was quoted at 3.720 fraties against 3,670 francs a week ngà
dollars francs
Black market also rise to 403 against 308 yesterday and 390 week ago-Reuter,
HONGKONG
STOCK EXCHANGE
(From Our Correspondent)
Business on the Hongkong Stock Exchange was to the value of $305,005. this morning
Noon quotations and trans- nctions recorded were:-
SHARES BUYERS ¡ELLERS SALES BANKS
25 1400 10 1400
JK Bank .. 1300 1400 INSURANCES
Caston
250
Underwriters IIK .Fire
5.40
154
{ SHIPPING
Aala 1.33
2. Japanese shipowners who have no prewar records have found it difficult to obtain mem-DOCKS.C." bership of the Japan-Europe and and the Japan-Australla freight
3. There are good prospects that Japanese ships will be able to pick up enough freight bc- tween the United States and Europe.
4. Japanese shipowners do not have to maintain regular liner services both woya
showed that an average trips a month was made by Japanese ships on the roules as at the end of January, or less than 40 per cent of the 788 trips made by foreign vessels.
In 1937, Japanese ships made
trips 59.5
真 month against 55.3 by foreign ships.
the Japan-New York sea lane. POOR BUSINESS
outlook
for
small The Ministry
that Japanese shipbuilders is not so Japanese ships are doing poor bright this year. According to business on key International shipping circles here, small and
with forelga compared
reports
round-the-world-routes
The
ол the as 011
lines
medium dockyards are accepting
72
K. Wharf.. N. Pt. Wharf 0.15 0.20 Dock
400 7235
Provident.11.2011.30 1000
S'hai Dock Wheelock LAND, ETC. ZIK Jutel
HIC Land (0) 5415
S'ha Lind UTILITIES
Fram
11.30 1500 15.30
7.40 500
9 83 8
1.55
...... Clo
22 200
Star Ferry
100 100
C. Light (0) 10.1016 500
500
1939 #123 13909
7.40
7.40
11.00
11.00
21.00
£1.00
10.10
10.10
FREIGHT RATES
TENDING TO RISE
Tramp shipping freight rates have hardened in some trades recently, but elsewhere conditions have remained steady, says the Shipping Corres- pondent of the "Financial Times."
MESSAGERIES.
Outwards
M