1931-12-31 — Page 10

HONG KONG DAILY PRESS, TRADE REVIEW, THURSDAY, DECEMBER 31 1931.

A DIFFICULT YEAR FOR SHIPPING

SHIP CHARTERING IN THE CHINA

COAST.

YEAR OPENS PROMISINGLY, BUT DEPRESSION SET IN DURING SUMMER MONTH.

MANCHURIAN SITUATION HELPS SHIPOWNERS.

Soveral cireumskaners have helped" to 'make the time and trip chartering business on the China coase for the year 1931 exorenicly.... eventful. The year began well and the demand for tonnage was so great that owners put up freight rates considerably. Then during the summer months, freight became scarce both in the South (Saigon, Haiphong, Manila and Singapore) and in the North and many steamers were laid up.

¿

Sovural charterers who haditalian steamors on a bime 'charter basis did not rap these steamers at all, proferring to lose a little by allowing them to lid idle than by adding to their losses by running the ships at a loss. -

A curious" med anforesten, de- tion might become once velopment strengthened the freight acuto. market cnco again towards the latter part of the gear Japanese companies with their large frat of small sized steamers wore left in the cold by Chinese merchants who

t+

for their cargoes. The net result was that hipowners went oner Again abie

colleet higher freights with their steamers and quite a number of rice merchants, fooking head, offered owners tempting rates for time charters.

again

In July the position became worse As expected and several steamers under timecharter were allowed to lay up ille in Hong Kong, chartara preferring to kerp

W÷LA

10

them at a loss. The volume of business transacted during the month

disappointing. August the general renditions of the freight market. was described. as inanimate and lifeless;”—the

PACIFIC SHIPPING.

LOCAL MANAGER'S REVIEW

OF THE YEAR.

NOT UNSATISFACTORY,

The following, is a review of the year supplied by the manager of case of our loading shipping com

· praies:-

THE NYK LINE. *

| LOCAL MANAGER REVIEWS

YEAR'S BUSINESS.

SURPLUS TONNAGE

WITHDRAWN.

-Interviewed by a-representative of the Daily Press, the manager of the N.Y.K. said that the businem this year was not bright owing to the world-wide depression of the freight market. The N.V.K.. e

RATTANS AND CANES.

GOOD YEAR OF BUSINESS. RECORDED.

EUROPE BUYING. MORE AND

MORE,

PLOUR AND WHEAT The price of United States

HEALTHIER TONE REPORT ED IN LOCAL MARKET.

il the

PRODUCTION AND

CONSUMPTION.

wero

whead is much too high in dom- parison with other countries, and, with the axosption of the sales mada to Chins and Germany by the Farm Board, then have boo:1 practically no sales. The pur- chases by Asiatic countries. mainly from Australia, Argentin", The four and what business in Russia and Canada. The Inst Hong Kong and South China has named country was prominent this:: boon comparativolý good during your because of the dissolution of One of the largest dealere rattans, canew und rattan furniture competitor appeared in the market, export competition with obvious

roview. A your under

now the wheat pool which resulted in has very courteously forwarded us namely, Australian Bour.

The results..

Towards the bud of the yap', market was quite dull in the first

'of heavy part of the year, due to excessivo anticipation

import stock, but after June 1, quite large duties in England has led to the

but the buying has ceased abrupt- Australia and Japan.

The appearance of

ly and a small re-action has set wheat in the market was due to its in. The prospects for the begin- past comparatively cheap price. Shangning of next year is quite good, hai buyers bought hage quantities although there is plenty of surplus being the for milling purposes in Shanghai

was done during the early part of The manager oxplained that the

the year, but the demand dropped this year tonnage tied up

WAK

during the altogether 15 vessels out of a fleet considerably

York of 101 vessels, Operating with month. Now less tonnage naturally meant less this measure the lone freight earnings. but by adopting of revenue was decreased and the profit and

almost halates

Australian

said, made strenuous afforts to the following report of the year's Taken as a whole, the shipping meet the situation by curtailment. busines situation for 1831 has not turned of surplus tandage and expend Chimw Canes:-A brisk business quantities were purchased from boarding of wheat in that country,- out as badly na was generally extore and in varicuk pava pected a year ago. There has been hat little improvement in the world depression, and this has naturally had its effect in world shipping. Hong Kong, being pri marily a shipping and tranship. ping contre, is vitally affected by the world's shipping situation.

Both the travelling and"shipping public of this Colony have beer. greatly benefitted during the year just closing by the decided "im

g provement that has been made in the various fluets of vessels aniling to and from the Orient. In both Trans-Pacife and European

Bor.

improvements in the type st steamers. From the new

vosscls-

lows account was during the last. Gical year.

"With regard to next your,'' said the manager, wo confidently look forward to an improvement. There arò two factors which

uf u in the way present stand. recovery in business, the first being

The business of the company in regard to the European and South American freight and passenger

largest of the American bayers, aking in a total of about 6,500 bales as against 0,800 bales during the provious year.

were

LB

and sent the finished product to in wheat producing countries. the interior. This had the effect of The following table of estimated spoiling the business in American wheat production for the year 191 wheat and flour in Hong Kong as and 1939 is interesting :-- a lot of business was done here

direct with Australia.

World Wheat Gropa. Preliminary Estimate.

1031/2 1930/1 Bushela Bushols

33,825,000 48,006,000 30,000,000 20,000,000 54,781,000 60,301,000 15,483,000

14,515,000

19,000,000 27,750,000

Supply and Danand.

Estimated

World's Surplus (qrs.)

Towards the end of the year, The European business in this

business has not been so brisk and article was quite lively for the the Americau wheat and flour

business, with the exception efa Europe -290,798,000-300,621,000. early Spring deliveries, some 23,000 few well-known brands, has been United States 110,750,000 100,371,000

Canada bales were shipped to Continental dull.

Argentina ports, as agaiùst 13,000 bales during The world wheat position, gen Asia once again tought foreign tonnage their steamers here rather than run vices there has been very decided the suspensich of the gold standard the previous year. The demand Prices improved

satisfactory. erally speaking is

*Africa a little at the

Australia

provement Was maintained in Britain and the second being the from the English markets almost beginning of the year and the 11 throughout the year. Production some 42,000 bales

The following is the estimated that have been put into the Ori- uncertainty of the, Manchurian dia doubled,

was still much in excess of c-world surplus and requirement up ental trade, it is quite apparent

pute."

shiped to London/Liverpool

Political sumption.

uncertainty to the middle of 1932. in whoat importing countries that the shipping companies are

against 23,000 bales during 1830:

proved to be an important factor taking advantage of the present low construction costs, dar

Battan Core-New York was the in the fixing of wheat prices." This was particularly noticeable in

America service was dull during the year, chief buyer the demand being Germany which had been a large

Canada anticipating decided improve-

but the trana-Pacific pussenger bucialmost the same na for 1980, some there was a distinct falling off in

buyer but during the present year Australia ment' in business in the near future.

India bought chly what was required Russia the heavy import duty in Euro- Rattan Baskota and Rattanware pean countries (excepting Eng -New York was the only market land) on wheat is making the purchasing important lots, some question of under-consumption

really serious one.. |8,000 bales wore shipped; this repre-

sents the same amount purchased are held this

"Quite large quantities of wheat year by the Farm during 1930.

Board in the United States which sold great quantities of wheat to China and Germany and negotin. tions are under way for the sale of to France. Tha large amount

We are indebted to Messrs. Gno Grimble & Co. for the information contained in the fallowing article:

business negotiated bring chiefly represented by coal fixtures and short period tonecharters.

Coal and sult trips again sayed the situation from being utterly lifeless during the month of September and owners did not hesitate to accept such trips when- ever they were offering in spite of It was in this month

1

During the year inst closing, the passenger movement has held

up

very well, everything considered. There have been various reductions mada in passenger rates in almost

The year began with a atendy demand for tonnage Un short period timecharters and for for ward loudings from Saigon to Bangkok, although low rates were quoted by charterers,. The volume low rates. of business transactąd darinx that news of the Manchurian sitaa-all directions, and many passenger January was small, but a satisfaction came thrigh and Chinese tory development was noticeable merchants, who had been employ- From the numerous enquiries reing. Japanese tonnage for coal, be 'maining in the market unfilled, and rice enrgoes at cheap inter, more hopeful fooling for the im- preferred to pay higher rates 201 provement in the general ecndition; non-Japanese tonnage to fill their of the freight market was enter requirements. As a consequence. tained for the next few months.

الدراسة

!. a slight improvement ses in with a

יי

lines have adopted the practice of issuing reduced round-trip fares.

There has been a very decided

decrsage in the total movement of cargo from this Colony. The de- creaac has been noticed in almost all directions, As the buying power of various importing coun..... tries has been decreased through unemployment and general depres

ness on the N.Y.K's new liners, 8,000 bales were shipped during the their purchases as the country Argentina

the Asama Maru, Tatsuta Maru and Chichibu Maru, showed decided improvement.

OLD RESIDENT'S

VIEWS.

KEEN COMPETITION IN PACIFIC SHIPPING.

THE TROUBLE WITH

AMERICA'S GOLD..

year under review.

A

2

?

North Africa, Danube.

Chile, etc. Carry-over at end of this cereal year :-

Canada

Amorica (30)

(14), Australia (5), Argentina. (7),

Total

25,000,000

15,000,000

12;000,000

15,000,000

2,000,000

30.000,007

5,000,000

58,000,000

150,000,000

Estimated

World's Requirements (qrs),

Belgium

Rattan Furniture:The Pacific Coast states of the United States, were the chief buyers, and the

stocks held by the Farm Board had United Kingdom volume increased greatly with the hal Bearish tendencies during France depreciation in the value of silver. Į the year," Some 40,000 bales were shipped The decreased acreage in United Holland San Francisco and Los Angeles, as States and Canada as well as in Germany

Australia and the Argentine, how Italy. against 18,000 bales during the

翡 the position Austria, Hungary evar; balanced up previous year. With the improve action on the Hong Kong exports, standing in giving the Daily Press and has decreased extensively sion, it has naturally had its re- A local resident of some years'ment of the silver value, this de- It would be difficult to say to what an idea of the year's business of during the past months. extent the movement of exports one of the leading shipping com- frum Hong Kong has been decreasedpanies, operating on the Pacific, but it appears safe to say that the stated that 1931 has been an

decrease in the movement of staples coedingly bad year. has been, very slight. Shipping

ex.

The business offering had been

ELECTRICAL FITTINGS.

In February, owing to the in-better tendency in all directions. creased demand for tonnago

The situatión again improved in. load rice, cond, walt and bear October, and rates were once agam cargoes; a large volume of business higher. The general feeling on saw transacted at fairly satisine the part of shipowners was cheer. lory rates. An abundant supply ful" and optimistic. A further of beancakes from Newchwing and draure in freight ratio way, anti- Dulny to Amoy, Swatow and Can-¦ sipated. ten removed the nearity for November found freights freely owners of regular lines le compete offering and shipowners' position for rice trips from Saigon to Hong was, therefore, further strengthmed. compies have met the situation extremely small and the coppeti- Kong to keep their steamers & sei There was a big demand for foducing freight rates, with the re-worst features of the competition is to the best of their ability by Fesion exceedingly koen. Ons of the during the Chinese New Year nage from Newchwang and Daly salt that intes in all directions at that freights could not be reduced BOOM IN BRITISH GOODS. paricd.

to South China which resulted in the Axtures of several handy sizi the present time are at a very low any more and there is a decline in During March, the freight mar- ket contined to remain steady, light-draught ateamers for 6 to 12 Important with, if anything, charterer, Andths' timecharter. ing difficulty in Alling their re- rice merchants in South China quirements owing to the shrinkage were also very active in their at secure donnage from in the volume of tonnage im tempts to modiately available for rice, coal, Rangoon, Bangkok, Saigon and beau, and salt trips. After the Haiphong to Hong Kong, The de. ixtures of several Norwegian mand for tonnage from Canton for steamers for the Siberian and Java non-Japanese steamers was negli and Bouth Sons trades, local trip-gible,

charterers began to divert their The year closed with" freigh: attention to timechartering for rates improving and the scorcity of short periods. Enquiries of this suitable tonnage being felt. The nature appeared in the market prospects for the new year are from time to time at rates very very promising. cloue tu owners ideas, which

eventually resulted in fixtures on owners terms. During this month.

4 general rise in rates in all direc tion was noticed,

Jevel.

10

All shipping companies, how ever, are looking forward decided improvement in the world shipping during 1002

SHIPPING SLUMP ANALYSED.

PRESENT STATUS WORST IN LIVING MEMORY.""

Characterising the present shum, The fallowing stentams were fix.in shipbuilding as the

yes--

Timecharters.

Jebsen

most severe

the passenger business. The Ca..-

Ay official of one of the Colony's tou silk business was also bad and leading electrical stores was inter- ; there was a noticeabla decrease. viewed by our representative mis The development of the all-watergarding the trade in electrical route from Hong Kong to New

goods, and he said that, as a result York, via Pannua, enabling silk of the new Ordinance brought shipped from Hong Kong to arrive by the Government at the carnes in New Yorkin 34 days also offered part of the year, the trade had. a good deal of competition to silk made very big strides. The Ordi› carrying ships on the Pacific. nance provides that all electrien] The future of the Pacific trade, stores be responsible for the com according to this business man, is plete installation of wires, etc., and not bright The gold-noarding as this made it imperative that Kobien adopted in Amerien

are there should be no faulty wiring, chuking the country and business it caused à boom in British goods is going past the U.S.A. to other as the cheap inaterial manufactured countries. For instance, for the in the East could not stand the first time in the history of the test that they were subjected to. Colony, British motor cart are in Anuther thing which contributes B position to compete with

to this boom was the Japane Amerigan-made motor cars in the boycott. All contractors carrying market. The difference in currency stocks of Japanese goods put the between United States and it prices up by some 30 per cent, in neighbour Canada alone forms the belief that no more Japanese striking example of how the material would be imported. The United States is losing businers. old stocke wore thus allowed to lie

ed for timecharters during the in living memory" the samal re- 14 April a further rise in Freight Solviken (Norwegian) 6 months port of Lloyd's Register of Shipping rates was salicrable and reached a timecharter 812,006 Hong Kong cphasises that the world total point where owners, hi view of the currency per month.

tonnage of idle shipping is now limited supply of image im- Michael

(Danish) d mediately available, could afford rocnths timecharter 816,500 par 10,300,000 tons" and there is no in: to employ the fileamers for short month,

dication of any immediate improve- trips. Satisfactory tripcharter Clara Jebern (Danish) 4 months meat." rates were obtained and maintain- || timocharter 815,000 per month. ed for prompt as well as for for Clara Jebsen (Danish) 12 months Great Britain has been particlar timecharter 814,000 per month. ly badly hit by the inarked shrink In May there were a number, of! Davikon and Sandviken (Norage in orders for new ships; and rice, conl, salt and bean trips un-wegian) 12 months timecharters shows a reduction of 1.500,000 tons There is a difference of such strik-in the godowns, unsold, and at the Alled and the business literally $19.000 per month.

as compared with the previous ing magnitude that Canada moment there is still quite a con weat begging db remunerative Prosper (Norwegian) a moths twelve months, which in turn show-reaping all the benefit, as for insiderable quantity of them here

ward loadings.

rates. Owing to owners permetent-timecharter 818,000 per month

Sales of. Steamers,

ed heavy reduction over 1923.

"The outlook," staten the report,

ly holding out for timecharters of

stance, in the competition to g the few suitable steamers still Available for prompt delivery, conl 8.5. Tai Fook Sing ex Lorestan,sion has broadened and deepened

is still unpromising. The depresi rid of surplus wheat. importers, as well as Bangkok rice 2,800 tons d.w. sold to Canton during the past year. The tonnage millers," "in view of the hit buyers for 963,000,

of vesels laid up has more than rates paid for tripcharters. fixed 8.5, Kaitana and 8.3. Kamona doubled.". several steamers ou timech from Australia.sold to Hong Kong at rates dictated by owners. Offers buyera. made by Saigon charters for the

8.3. Shun Chih, 1,182 tons renewal of timecharters for short re sold to Hong Kong buyers periods at reasonable figures were for 8130,000 Hong Kong currency. turned down by evners.

8.8. Bestum and 2.9. Beat

In Junc it was reported that antons dw. sold to Northern Chinese easier tendency developed in the layers for £10,000, freight market with considerably 8.8. Gouverneur Genewal. Maurice lena demand for tonnage and the Long II, 770 ons het register act

millers for natback developed so rapidly that to Haiphong co it was anticipated that the nitus Pinstres 45,000.

Fret another soures we letn that business in electric motors, etc., has shown a considerable improves at the end of June, 1931, and classi- ment and as a large part of the The largest vessel now building led by doyd's was 23,541,875 tons goods imported here are sent up. under Lloyd's survey is the new gross, an increase of more than country, trade in South China gan Curder which is officially elngai-1,000,000 tons over June, 1080, and erally has been on the upgrade. fed as being of 73.000 tona grow.

a record aggregate for shipping reNow that there is peace, of soine Two other giant liners of which

in have been approved are the sittered at Lloyd's. Talian linors Rex, of 50.000 tons, special attention to are the continuit is to be hoped that many more Other prints the report directs or in "Kwangtung and Kwangay, aid Conte di Savoia, 18,000 tons.

ed increase in the adoption of in these motors will be taken According to the report the total ternal combustion engines and of oil tonnage of merchant vessels afloat

as fuel, and the development of up by those provinces, where there (Oontinued at foot of next columm.) * electric propulsion.

is much room for dévelopment,

somewhat and the export surplus Spain, Portugal

98,000,000

7,000,000

6,000,000

3,000,000

4,000,000

7,000,000

5,000,000

3,000,000

the the

Total European

12,000,000

75,000,000

1

non-European 20,000,000

Grand Total

05,000,000

anticipated at

the various countries were, Greece, Switzerland fortunately, not ns high

and other European One time. To- Countries wards the end of the year, American winter erop and Argentine crop have proved to be bigger than anticipated owing tul continued fine weather.

NOW

IS THE TIME TO INVEST IN SOUND ADVERTISING.

When new accounts are. slow in maturing and business seems dull, pro- fits can be built up to normal level by investing in a carefully planned advertising campaign.

Let The

Directory and Chronicle of the Far East

be your sales builder. Write to us for sugges- tions of advertising schemes and rate cards.

Published by

Tar HONGKONG DAILY PRESS, LAD. 11, Im Howa Street, Hongkong,

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