1934-01-26 — Page 10

PACIFIC SHIP. PING

No Improvement In Cargo

PASSENGER BUSINESS

LOOKING UF

The following account of Pacific shipping has been written by the manager of a big company in- terested in Pacific shipping:-

Freight Business.

Although we stated last year that the Pacific, shipping, COM- panies were looking forward to im- proved business conditions in the

near future, we must nów admit that the improvement did not materialize. There has been a further falling off in the cargo movement to the United States but to a very small extent only. For the first 9 months" of 1933, the "total cargo moved was 30 percent less than for the same period in 1929. Since 1929, there has been a steady falling off in the cargo movement to the United Btates. The first 9 months of 1933, are about 2 percent under the same period for, 1932. Shipments are moving in about the same quant- ities as they were last year, al- though there has been a slight increase in the last quarter, and the final analysis should show that the 1933 cargo movement to United States is practical- ly identical with the movement for 1932. The recent fall in the value of the U. S. Dollar is, not yet affecting export shipments to any extent. Exports to the United States are increasing slightly in the last few months due to an increased demand in the United States because of improved business conditions. Imports to Hongkong from the United States are increasing quite appreciably, due to the lower value of the U. B. Dollar. We do not took for much, if any, increase in the Export Freight movement, but 1934 should bring about an appreciable increase in Import Cargo.

the

Passenger Business.

The Passenger Business Trans- Pacifc for the present year shows a decided improvement over 1932. This is true both in the Tourist Business and.in the regular move- ment of Residents. From present Indications 1934 should show a further decided improvement in the Passenger..Trafnd.

EUROPEAN LINES Report From A British Company

A DULL YEAR

The following" report of the passenger business freight and between Hong Kong and Europe as well as the Australian trade is supplied by the local branch of a leading British arm-

Hoar Kong/Europe

The year just closing, although in some respects better than 1992, cannot be termed a good one for the Steamship Lines serving the Europe-Far East route."

Imports from Europe showed a considerable falling off and the tendency in outward freight rates was If anything downwards.

Exports from Canton and Hong Kong to Europe showed no im-: provement up to August, but thereafter considerably larger quantities of South China produce went forward making the total export tonnage for the year about 20% higher than the 1932 Aguzes. Drastic reductions in the freight rates on the principal commod- itles, however, offset from the shipowners' point of view any profit which might have accrued from the increased quantity of cargo carried.

The volume of business in Raw Suk to France was particularly small, and during the latter part of the year practically negligible. India, however, took advantage of the abnormally low prices for the coarser grades of air and large quantities have gone forward to Bornbay during the last month or two....

Trade with India, the Straits and Jepan showed little if any Improvement.

number of

To Australia local exports are down a shade partly due to the Chinese decreasing permitted to enter the Common- This also affected the wealth.

Far passenger "earnings of the Sast/Australia Lines.

FACTS

The cabin passenger trade with Europe was perhaps the brightest feature of a dull year though hers again reduced. passenger rates from presented the Shipowner reaping the full benefit.

the.

It is interesting to note a large increase in the number of Europe:

India an residents of

and Straits who have elected to spend their local leave on a trip to Hongkong: this business continues to" develop.

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HÒNG KONG DAILY PRESS, FRIDAY, JANUARY 26, 1934

COAST SHIPPING DROPS

Rice Shipments Curtailed

By Taxes

FREIGHT RATES FALL

OFF

The ship chartering market during the year 1983 KARKAS E very marked falling off in freight rates, and although at times there were encouraging signs of a revival of better conditions, several factors occurred during the year to make things bad for ship owners.

Principal among the causes which led to lower freights was the introduction of a tax of foreign-rice, cement, sugar and coal. The failure of several native banks in Canton and Hong- kong added to the want of confidence on the part of would-be "charterers of tonnage, the revolt in Siam, and the troubles in

Fukien later, did not help matters at all.

We are indebted to Messrs. George Grimble and Company, ship and freight brokers for the following which is extracted from their reports of the year's chartering business.

SHIP

1:

CHARTERING DIFFICULTIES

The year opened with no special; feature of interest in the the freight market. The erratic con- dition of the Piastre exchange and the slump in rice prices in Can- ton offered no inducement to mer- chants in further importations" and trip-chartering tonnage from Saigon to Hongkong for loading before the Chinese New Year was at a standstill.

The collapse of the freight market was accelerated by an in- crease in the timport duty imposed by the Chinese Governments on foreign coals, cement, etc.

'owners as well as tifhe charterers also had to make the best of a most difficult situation, which to them is grave. The freight Sai- gon Hongkong was only 10 cents per picul

The following appeared in the Beptember report: "There a

but little change to report in the condition of the freight 'maiket, which had already been severely shaken by the recent increased. Chinese Maritime Customs dues on Sugar, Coal and cement imported Into Ghis from foreign countries. The difficult position confronted by shipowners was further 15- gravated by the imposition of a new import duty of Mex. 81 per picul on foreigh rice and waddy imported into Canton on und äfter the 18th of this month. The Provincial Treasurer of Kwang- tung, supported by Labour Dulons and Kuomintang members of the Chamber of Commerce, stated to be as a protection for native farmers, levided. the new tax in spite of the strong protests lodged by rice merchants and consumers alike. The discriminatory mes- sure against foreign commodities has had a detrimental effect on the freight market and so far as forward business is concerned, any revival in trip chartering of ton- nage from Salgon, Bangkok and kin for Coals is not expected un- Rangoon for rice, and from Ton-

Li

normal conditions develop."" An equally gloomy report appear- ed at the end of October. It read as follows:-

"The disastrous consequences arising out of the action of the Chinese Maritime" Customs and the Provincial Treasurer in Canton in

June: A general decline in rates from Saigon to freight Hongkong was recorded... The dis- solution of the Mutual Co-opera- tive Association in Saigon result-" ed in numerous regular liners and Business in all directions was time-chartered steamers compet- e imposition of Import Duty on exceedingly scarce and slow in

ing far the small quantity of foreign coal, sugar, cement and Charterers were very berth maturing.

cargoes from Saigon 10 rice, are daily becoming more evi- pessimistic in their views regard-Hongkong. Although 15 cents per dent. However, existing circums

year which had com- ing the

picul was the official rate for tances naturally have led to a menced and several small and

parcels of rice obtainable on the number of unclassed Chinese medium sized steamers available

berth, lower rates were repored steamers obtaining rice cargoes for immediate delivery were 171-

to have been accepted by time from Wuhu to Swatow and Can- able to secure any employment.

charters. There was also a great ton, coal cargues from Pukow ar In February (Chinese New Year scarcity of berth

ΟΣ Tengku to Amoy. cargoes from Hankow

Heavier Swalow and/or Canton and gen- period) the market was still ex- Bangkok to Hongkong. ceptionally quiet and there was no rebates had to be resorted to as eral cargoes from Yangtze Ports seasonal Saigon-Hongkong trip- an inducement for supplying the to Canton and vice versa.

chartering. Charterers found

many steamers ON berth with plenty of tonnage left on their

cargoes. Several steamers under hands and consequently several time charter to Bangkok millers steamers were sub-chartered to returned to Hongkong with empty pean and coal importers at a con- space on board. siderable loss. The market WIS other wise devoid of Inquiries

Rates quoted in February were as follows:-

Saigon/Hongkong-30 cents per

picul Bangkok/Hongkong 40 cents

per picul

Owners and charterers' divicul- ties were further complicated by the sudden outbreak of civil war In Blam, which resulted in char- terers attempts to "repudiate their recent commitments, as" owing to the interruption of the internal trame in Siam, shippers in Bang- kok were unable to provide full cargoes for steamers on the berth. The record of business for the month of November was slightly healthier. It read: "Owing to a rumour current that a further im- position of Gold Unit 2 per picul, Balgon to Hongkong and made by the Chinese Maritime Customs, efforts to sub-charter their ves- on the importation of foreign rice sels in order to avoid heavy to China on and after December losses. Nine steamers to a1 rice merchants hastened to« in- total of 37,760 tons were lying crease their stocks in Canton in Idle in Hongkong, Swatow, and the laterval, and the local rice Keelung, and in spite of owners market has therefore slightly im- agreeing to accept very low rates, proyed, offering.

On account of the increase in the import duty on" foreign coals and cement to China; the demand for

coal and cement tonnage from Tonkin to Canton and Swatow bas almost disappeared.

Towards the end of the month, Saigon millers ceased operating Port Courbet/Swatow (Coal) their time chartered steamers from

83.40 per ton.

!!

Hongkong "$2.50 per ton.

Hongkong/Swatow $2 per ton. In March, the condition of the rice trade in China permitted Charterers to go in for extensive chartering from Rangoon, Bang: kok and Saigon. Vessels given up

Beveral steamers which could by Bangkok millers were taken up July: There was still a de- give loading on the Saigon berth again for consecutive trips Hong-pressing lack of fresh business and | before the 20th instant managed kong/Bangkok/Hongkong. There the volume of unemployed ton- to secure full cargoes for Hong- was also a fair demand for large nage threatened to increase. The kong at 14 cents per picul How- sized steamers from Rangoon to volume of business available was ever immediately after the fixture Hongkong, Swatow and. Amoy, not sufficient to meet the require- of a Norwegian steamer of 34,000 The market was well supplied with ments of regular liners as well as piculs capacity for a round trip British steamers owned in Shang-steamers under time charter to Hongkong/Saigon/Hongkong - од hai but in spite of that there were rice millers and those under the time charter basis of $250 per day, two fixtures transacted in Lon- management of shipowners. Rates the failure of numerous native don at HK.87.50 per ton for April quoted by charterers for the very banks in Canton and Swatow were loading. In other sections the mall volume of business offering reported, which resulted in a com- market WELS very quiet,

but were all greatly below the pro- plete loss of confidence in trading steamers, trading Saigon/Hongkong ftable level.

conditions and in £ general and Bangkok/Hongkong obtained

The report for the month or collapse of rice prices. full cargoes, and quick despatch.

August read 0.5 follows: The Instead of booking tonnage ahead Aprit: Owing to a drought in freight market may be described to cover their forward require. several districts in the Province as at its worst. It is estimated ments for the new rice saison, as of Kwangtang, the importation of that some 800,000 bags of Burmah usual at this time of the year, foreign rice continued briskly. Rice and 30,000 tons of Tonkin Rangoon, Bangkok and Saigon Rangoon rice merchants were Coal are still lying in Swatow, rice' merchants, on account' of again able to afford fall employ: 250,000 bags of rice in Hongkong financial stress in Swatow and ment to large sized steamers, but and about 20,000 tons of Tonkin "Canton, and the unsettled state rates were kept at a moderate Coal at Canton, and these will of political axairs in Amoy and level owing to the fact that there have to be disposed of before any Foochow, onered their time- was plenty of tonnage available. | revival" in chartering takes place. chartered steamers in the market After a brief spell of trip charter-During the period under review for subcharters and were ready ing tonnage for Hongkong/Bang- not only was there no demand for to. entertain business; in other di- kok/Hongkong. local rice mer-tonnage in any direction, but ship?" rections in spite of heavy losses. chants received advice that ex- ports of rice were were insufficient to meet the requirements of the numerous steamers taken op Except for a few steamers Axed for short period time charters for "round trips Hongkong/Balgon/-

Hongkong very few enquiries caine on for loading in Bangkok

May: Amoy and Bwatów mer- chants remained big customers for Rangoon rice for early June ship- ments and the market in the early days of the month began well for owners of larze sized steamers ranging from · 5,000, to 8,000 cargo capacity. However the abundant, supply of tannage : con- trolled in London, and in Shang- hai and the poor demand for coal, steamets for Calcutta/Hongkong. and Whampoa enabled charterers to again keep freight rates for rice cargoes to a low level.

became

Towards the end of the month, the freight market was weak, and Inactive. Business, which had been prered to and declined by owners in early May, was no long- er obtainable" although dwners. when their steamers prompt, were willing to accept charterers terms. The Bangkok/- Hongkong rate receded to 40 cents per picul and the Saigon. Hong- kong rate dropped from 30 cente to 20 cents.

January:

To Chu Kung Prosper

February: Koromika

6,7,500 per month #12,000 per month

TIME CHARTERS.

The following time charters year:

were reported during the

'2,300 tons 3,200 tons

A months 3 months

Ciara Jebsen Taishan March:

4,200 tons 3,200 tons 3,500 tons

3,200 tons 3,200 tons 2,325 tons

Prosper Solviken Mabella.

April Prominent Fingal Katapol Pronto Kronviken

May: Talahan Hengshan

3,200 tons 3,500 tons 3.000 tons 2,935, tona 3,500 tons.

6 months 12 months 3 months

12 months 12 months 3 months

12 months 12 months 3 months 12 days

3 months

$11,000 per month #11,750 per month

4 9,000 per month

$13,000 per month #12,500 per month $12,500 per month

#12,500 per month $13,000 per month $10,000 per month 8400 per day $13,500 per month

50 tons 1 month $19.159 per month

3 months 6 months 3 months 35 days

9,600 per month: 812,000 per month 811,000 per month #14.000.-

Ardent Pronto

Cape St. Francis

July

Mabella August: Michael

Septemb

3,000 tons 3,000 tons. 2,935" tona 5,320 tons

2350 tons

3,500 tons

Octob

30,000 piculs 14 days.

8365

per day

8 months-$11,000 per month

3 months $10.750 per month

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Montserrat

"Schweppes" Lemon and Orange

"Aylmer" canned fruits and

vegetables.

"Chiver's" Jams Jellies and

Custard powders.

"Gold Medal" Sardines.` "Padfic" Brand Suaporated

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