1935-02-02 — Page 10

RAW SUGAR MARKET

Export Trade From Hong Kong Limited

The past year has been no kinder to the Sugar industry. thari the previous three years, and world's prices have steadily de- elined,

At the end of last year the pro- hibitive duties on foreign Sugar were interfering with the Hong Kong trade as most of the Sugar imported for the open market Ands its way to South China and the export trade was mostly in the bands of smugglers.

|

gling to a great extent, thereby putting money into the Frovincial Treasury instead of the smugglers' pockets, and providing the where- withal to pay for the mills, with- from the out diverting trade

Since Colony.

the Monopoly started, the shipments of Raw White Sugar (the grade chiefly carried by smugglers) to Macao have

fallen off considerably whereas shipments to Canton have increased

HONG KONG DAILY PRESS, SATURDAY, FEBRUARY

HONG KONG S COMMERCE

December Figures

Figures for the month of Decem- ber, 1934 show that imports of

the merchandise into

Colony amounted to a declared value of $38,3 millions' (£3,2 millions), as compared with 838.8 millions (£2.6" millions) in December of 1933: an

increase in terms of local cur- rency of 4.1%.

14

Exports of merchandise totalled. $28,4 millions (£3.4 millions), as compared with, $28.0 millións (£20. millions); an increase in terms of

local currency of 1.5%,

COMMODITY FIGURES

The total values by main groups of commodities, with the figures for December, 1933 in brackets are given below:-

Imports $

Exports

290,092 (311.051)

ง

Live

982,055 (1,016,000)

23,293. (24,723)

Buliding

Materials

Chemicals &

Drugs

·657,823 (572,774)

J

624.118 (429.114)

Chinese

Medicines

The actual distribution of Sugar At the beginning of the year

was only taken over by the Mono- under review the Kwangtung Pro- vincial Government declared Sugar poly in May and for the first four a Government monopoly and teok months of 1934 the total ship- Animals,

ments of Raw White Sugar" from over the entirely distribution of

Hong Kong to China amounted to Sugar in that Province. Work was immediately started on the erec-onix 36,681 plcuis. tion of Sugan factories, and there are now four mills, three of which are completed and the other well on the way. During the time the Centrals were building, the Pro- vincial Government imported large quantities of Java Sugars for sale throughout the Province, such Sugar being bought through the regular channels in Hong Kong.

During the last few days of the year milling of Cane was actually started in one of the factories and it is reported that there are large quantities of Cane available, as at the price offered by the Monopoly, selling Cane is a more attractive proposition to the farmer than producing native Sugar in the old bullock-power plants.

Smargling Checked

1

At the close of the year the Raw Sugar Market was very depressed and buying consisted only of small nearby parcels. There are rumours that American Granulated Sugar is being brought, to Hong Kong. and that a large quantity of Cuban Browns is being transferred here from Shanghai and, as both lots are intended for the open market, lower prices are expected all round.

Dyeing

1,785,838 (2.317,126)

1935.

BAD YEAR FOR COASTAL SHIPPING

Many Factors Depress Chartering Market

The following report on Coastal Shipping for the year 1934 has been provided by Mesars. Geo. Grimble and Company:-/-

aldy

The year 1934 has been one of the very worst ever, experien- ced by shipowners. With the closing down of numerous Chinese firm's of good repute and þöf sound firisacial standing, the difficult position of shipowners, was not altogether unfore-

seen.

18

The heavy import duty levied by the Indo China Government on Chinese foods, and the recent increased tariff and surtaxes imposed by the Chinese Government on foreign rice, sugar, coalTM and Manchurian beans, the impoverished state of the Chinese in their own native land, with its attendant limitations, and the commercial mauence of the Chinese in Tonkin and Cochin China, Philippines and Java were root causes which contributed largely to the severe depression in shipping in the year 1934. - .

Importers Badly Off

No definite plan was formed by 328.422 rice and coal importers to cover their tonnage requirements for the

· (218,798)

year. With the poor demand for 790,004 rice and paddy, and the continual (804,928) | barging in their prices, merchants retuctant to commit them- selves to long term timecharters, as the small consignment Com- mission of 7X allowed, under their rice sales was inadequate to cover the loss in freight rates, lighterage, launch hire and other overhead

Materials 283,910 247,012

(240,876) (273,629) 9,619,392 Foodstuffs

8.291,117 (9,218,078) £9,259,850) 1,099,431 76,005 (1,176,828) (84,616)

161,735 (140,099)

57,095 (105,444)

The actual imports of Raw Fuels sugar into Hong Kong during 1934 average about the same previous year.

Prices in the open market have declined as under, viz:—

were

charges.

Foreign coal importers were also in the same tintenable position On account of the heavy import duty on foreign coals, some 1800 620,623 tons of native mined coals from (100,483) the North River were dally trans- 182,789 ported in railway trucks, and about (508,540) (91,583) 40,000 tons Kailan Coal from 4,390,609 3,374,609 Chingwantao were shipped month- (3,777,218) (2,756,572) ly in large sized steamers. all into

LS

the Hardware

Liquors

Machinery &

Engtries

249,681

(220,347) 238,592 (257,129)

1

682,761

Jan. 1934 Dec. 1934

85.75 24.05 $3.80

(474,350)

Manures

120,530

Metals

Minerals &

Ores

非

The formation of the Monopoly Raw Whites undoubtedly checked the smug- Raw BrowTIS $5.45

The present high rates of duties on Sugar into China camë into effect on 1st April 1932 and it is interesting to compare the official export figures for Raw White Sugar before after that date:-

SHIPMENTS, OF RAW WHITE SUGAR TO

China

Macao Kwangchowan

Year

1931

piculs 1.435,144

268,415

227,369

1932

843,160

447,967

239,590

1933

242,356

580,421

209.315

1934

(estimated)

Paints

550,000

250,000

1.30,000

Papër

Don't for get when ordering

your daily supplies

WHISKY

to ask for:-

"White Horse"

Marchant's

Logan's Liqueur

407,753 243,251

136,491

417,947

Canton, duty free. The demand

3

the month of January. Owing to the sluggish state of the local rice market; however, tonnage was not wanted at Saigon, and only a limited number of steamers could be accommodated for Bangkok Hongkong if owners cared to accept reduced, rates for round trips.

February and March

Some interest was shown for tonnage on trip and/or timèchar- ters in February and March. After a long spell of activity, Salgon rice merchants decided to Import & few cargoes to arrive at Hongkong immediately after the Chinese New Year Holidays (14th/16th Febru- ary). Several fixtures were re corded at 22/26/27/23 cents per picul The highest rate paid was 27 cents for a China Navigation Co's steamer of 36/38000 piculs Ace capacity.

their

EUROPEAN FREIGHT

Report From British Concern

A British Shipping firm sends as the following:-

Whatever. else Exports from Canton and Hongkong may mean to those directly interested in this trade it can be safely stated that the European Lines serving this part cannot look back to the year 1984 with any idea of congratulat ing themselves on earnings derived from the tonnage exported. Sta- tities shew that actual-tonnage exported was practically on a par with the preceding year but freight rates on the principal com. modities from South China have been at an unremunerative level.

Business in Raw sak with France has not tretensed In volume and trade with India in this respect shews considerably reduced Agures.

"General Trade with India was poor, particularly during the latter part of the year, attributable no doubt to exchange appreciation with a consequent adverse affect

an exporta

Trade with the Straits Settle- ments was fair but again at low and unremunerative freight rates. Business with Japan was negli- gible.

+

Exports to Australia were mo derate with little increase, if any, over figures for 1933.

Imports from Europe were about the same as the previous year at lower freight rates. continued bright during the year The passenger trade with Europe and the Chinese Coolle trafic with the Straits increased considerably due to an increased demand for this class of labour in the Settle-

ments.

p

only practically cleaned up the accumulated stock' in local : go- downs, but also supplied regular Liners owned by the China, Naviga tion Co. and the Indo China Steam Navigation Co. with much needed freights in their trips Northwards July

Towards the end of March, for Tonkin anthracite and Borneo Chinese emigrants from Swatow (71,854) (154,167) | Bituminous coals was therefore and Hongkong for Straits Settle- Nuts & Seeds 695,289

correspondingly less, which naturments were freely offering on the (410,913) (300,818) ally resulted in fewer ships being berth, and a few cargo and passen- Oils & Fats 3,308,985. 2,455,431 wanted for coals from Tonkin to

(2.289,200) (1,800,445) Canton, Swatow and Amoy-The er steamers, which were released

from by Saigon millers 96,478

volume of chartering business timecharters, were taken up by The general attitude of mer- (119,774) (107,445) transacted during the year under other charterers who were inter- chants in July showed no melina

858,458 555,713 review was therefore, greatly re-ested in the coolie trame. (738,863) (549,421)|tricted. 3,989,333 Piece Goods 5.903,951

(5,367,620) (4,180,343)

86,725 535,338 (38,378) (5,842) 649,488 442,704 (422,873) (192,046) 15,150,786 21,394,101 (2,130,836) (9,030,557)

229,008 164,428 (370,982) (123,822)

Railway

Materiala

Tobacco.

Treasure

common

tion towards chartering tonnage. owners In no direction could obtain further employment for the their tripcharters. Seven British, numerosis steamers completo one Portuguese, one Chinese and deadweight of 39,000 tons were two Norwegian steamers of a total

Further sales of local steamers. Keen Competition

were reported The British as Steamers provided" with Hong-Pong Tong" and the Chinese ss. kong Government Passenger Certi- "Dorry" were acquired by Shang Beates competed for coal tripa in hai Chinese for $75,000—and with single deckers at $40,000 Hongkong Currency, res even rates-There was "but little pectively. The first ramed stealing idle in Hongkong and Swatow advantage gained in providing mer was also employed in the steamers with Passenger Certif-Saigon/Hongkong rice trade in in the early days of July, cates although in former years, former years. Vehicles

such steamers seldom failed In securing employment, even when Wearing

the freight market was weak and Apparėl 520,418 912,885

little interest was displayed in (329,331) (678,428) purely cargo carriers.

Sundries Bags

Electrical

Apparatus 196,083

April

April opened with a fair demand for... spot steamers which ̈ could arrive at Hongkong not later than rice merchants to tranship their the lith in order to enable local cargoes to Canton before the in- creased surtax came into force oh.

August and Reptember

There were enquiries for local tonnage to load rice from Bangkok and Saigon to North China and India, August and September,

N. Y. K. LINE

Local

Manager's Report

In common with most shipping companies, we suffered from the

all' prevalling acute depression these years, and such a position. necessitated our exploring every possible channel through which 'business might be obtained. I am glad to say that in the past finan- cial year, from October last year to September this year, the NYK. carried 3,000,000 tons of cargoes and 150,000

passengers, Agures, although far from being reassuring, nevertheless show # small increase in comparision with those of recent years.

which

However, the general outlook is none too bright. What is to be expected under the present condi- tions wherein it is denoted that the total floating tonnage shows an increase of 47% in comparison with that' before the War, while the summing up of commodities carried by sea indicates a decline to two thirds of prewar days, and also the average index-number of turnover by tramp steamers shows not merely the lowest level aften the war, but also 22.5% lower than

prewar?

Conditions in the shipping trade cannot be considered sound so long as policies of governments" subsidies and discriminating tariffs exist. The disastrous loss of equi librium between world tonnage and world trame has been leading to futile struggle between na- | Morial flags, which takes the form of constantly increasing competi tion in tonnage and speed, as well ag dangerous rate war,

Com-

International Trade International trade and merce need for their development the most efficient and least expen-

· sive form, of sea transport, to pro- vide a freight and passenger mar- ket open to ships of all flags, with freedom from artificial inéasures designed to promote the interests. } of vessels under particulat dags.

It is a common saying that trade follows the fag; but we venture to say that trade will only make progress when good understanding exists between people; where this understanding is lacking, trade is bound to sutter

Hongkong is enjoying a unique position in world traffic as a free. port. The value and prosperity of Hongkong will be doubled in the near future, only as the main.

to, but dist as that of Central gateway of South China as hither- China following upon the inaugur ation of Canton-Hankow Railways.

tributing its efforts towards the Thé N.YK, has always been con-

prosperity of Hongkong since 1889 when our Branch Office, was first established here. In addition 'to all our trunk services including Hongkong as a regular calling port, our Pacifc Lines make Hong- kong their terminal point, while

but this had no stimulating effect many N.Y.F. vessels are docked on the freight market whatsoever. here, despite the depreciation of Steamers...controlled by local Japanese currency, thus contribut- owners were all under 4500 tons mng to this port considerable mone- deadweight all told, while charter-tary proft and giving shiployment

to local labour.

The increased passenger quotas -881,297 1,048,783

granted by the Government of (1,080,717) (2,045,703)

Federated Malay States placed 274,280

owners of regular liners at a dis- the 15th.All vessels fixed in early tinct advantage, as the monthly April for Saign/Hongkong received (244,493) (225,562)

allowance to an outside steamer extraordinary quick despatch ers based their offers at rates 193,099 106,869 (167,596) (169,401)

not alloted with a passenger quota,

In spite of the labour strike in accepted by 8000/8000 tanners owned in Shanghai or London. 308,155

was 25 male emigrants 101,055 (76310) Business arranged for "outside" few steamers for round trips of the s.s. "Koromiko" and as Bangkok, local importers took a with the exception of the fixtures (All kinds) (309.108) Matches 226,994 101.250

steamers with Government Passen- ̄ ̄ ̄(126,376) ̄ ̄ ̄ ̄ ̄(183430)ger Certificates this year, with fe Hongkong / Bangkok / Hongkong "Apoey" for Baigon India and the

Flides

Leather

Ancient Scotch

GIN

Silver Slipper" Dry

Melrose Dry & Old Coni

BEER

McEwan's "Red Label"

Total

McEwan's Strong Ale McEwan's India Pale Ale

Om. Younger's Light Beer

Otard's 3 Star, V.S.OP. `& 1865 liqueur Brandy

BRANDY..

LIME JUICE Montserrat

SQUASHES.

GROCERIES.

Schweppes Lemon and Orange

"Aylmer" canned fruits and

vegetables.

"Chiver's Jams Jellies and

Custard powders. "Gold Medal Sardines. "Pacific" Brand Evaporated

Milk

Distributora

JARDINE, MATHESON&CO., LTD.

Import Department.

Others-

3,140.4574.850.057- (3.849.034), (3.051.684) 53,403,937 49,799,281

IGNITION ENGINES

Improvements

only.

paying $12,500.00, lumpsum, for a steszier-of-50,000——piculs-rice

capacity.

94. "Kaituna" for Saigon/Ningpo,

no other local steamer paidepated in the business from July "to December

exceptions, was more of a specula- tive nature. The heavy expenses incurred through overhauling and refitting them to enable them to

May and June. comply with the Board of Trade The freight market quietened It would appear that as long as requirements for Passenger Certi- down in May. A steamer, owned the loss incurred on trips was not cates were quite disproportionate by Chinese millers had to be laid heavier than the actual cost of to their paltry earnings, * up. Apparently her owners pre-laying-up, owners were quite will Early in the year, two British ferred to discontinue operating hering to keep their steamers running steamers, the 85. "Haldis" and after having suffered heavy losses "Borneo" both provided with"} on their rice sales. Hongkong Government Passenger For the numerous steamers fixed

PACIFIC TRADE Slight Improvement In 1934

A night Stuprovement is shown during the year as compared to the year 1983. The East-bound service

the Chinese American line had “gonë out of service during the year, and has been converted into an October

entirely West-Bound round-the- After the removal of several world service. There was conse- berths in October, tonnage once both passengers and freight.

Last Own Licenses and both formerly em- Salgon/Hongkong in end of May steamers from their laying-up/quently a little more business in

ployed in the Balgon and Haiphong rice trade for over ten years, were sold to Chinese buyers. No at tempt was made by their owners interesting

to replace these Hongkong regis conversions

tered British steamers after their have taken place recently in the

sales. Kowloon Motor Bus Co's buses in Tramp Steamers Thornycroft and Leyland chassis.

Most

møre gemed to be well distributed.

The silk business between China. and America has dropped consi- derably, the figures showing only half the quantity that was carried in 1933, which was in its turn, only half of what was carried in 1932.

The Immediate prospects for the

Cargoes transhipped at Hong Kong for America is slightly up. This is due to the fact that ear- goes from South Africa and India were sent via Hong Kong future are not bright, but there is just the possibility that the impro-

might lead to better business, to owners could not be averted, vement in the value of the dollar and consequently tonnage was otherwise the forecast for the year firmly held until the last moment. 1935 is once again gloomy,

and early June, charterers were unable to provide full cargoes. The local rice market having Persistent efforts mad by coal declined before the arrival of some charterers in filling their tonnage of the tripchartered steamers in requirements at $180 per ton for Balgon, shippers were unwing to Hongay/Hongkong, Mex, 330. for embark upon further losses Port Wallut Shanghai, Straits A Chinese steamer of 3500 tons $2.00 for, Hongay/Pulo Brani, and With the demand for tonnage deadweight fized for a 2 months Max. 31:30. per ton for Hongay The old petrol engines have been throughout the whole year retinecharter at the end of April for Shanghai met with no response taken out and the latest type of Caraner compression lenition en-maining at a minimum, and with delivery at Hongkong middle of from owners Rates for Tonkin gines Atted each developing 60 regular liners and timechartered June for the Balgon/Hongkong Coal trips accepted for July, and BR.P. These engines are noted steamers performing their found rice trade, was offered in the mar August loadings were so low that even operating their tonnage for their great reliability and risk trips with a very high percentage cet at $7,500.00 per month for sub-

under strict economy, heavy losses through are is practically non- of empty space on board at all charter. The berth rate Saigon existent owing to the fact that times, only two courses were open Hongkong receded from 20 to 3 diesel oil is used. These twenty to tramp owners if they did not cents per pieni, and the market conversions, together with the ten feel inclined to resort to laying up was then also bare of enquiries for Thornycroft chassis supplied direct the vessels. They must either tonnage in other trades. from England atted with Gardner choose between accepting current Monotonous as the aspect of the engines, make a total of thirty market rates, which were für freight market now was, events

poorer, than what was considered towards the end of June unexpe buses now of the road!

Regarding marine Installations to be the poorest during stackedly took a favourable turn, which numerous Chaines Have Been tea months in former years, or making extricated local rice into Uhinese craft and up-country arrangement with shippers fo em from their precari | štations. These are mostly used ploy their steamers best possible, - and | for lighting set One outstanding on usual berth terms without any the

job was to the Canton Fire Float guarantee from shippers for full | been which was zubilled to the order of cargoes. the Canton Government. This has broven highly emitient and his been called out on numerous beca-

Januarsk Shipowners gene their attention Balgon or Bat

focussed from

Northern Chinese- employed 4500/7000 tonners to lift their rice cargoes from Saigon to Shanghal and Ningpo at 32/36 Centa, Mex. per pical, which owners declined to account of

spme

nesa local

ОП

CHINESE TIN

The volume of business during the year has been about the same conditional in the previous year, Le, about 8000 tons The year taken as a whole, has shown some snail pro- Ats, though the local selling price. has decined. abo

Der Dicut, Hince the middle of the year in

of the ad vance in therical rates of Er-

2

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