Directory_and_Chronicle_1940 — Page 386

A10

CHINA

SHIPPING AND FREIGHT IN 1938

The world total of mercantile tonnage under construction at the close of 1929 was 3,110,900 tons; at the close of 1930 was 2,326,100 tons; and following the depression fell to 757,300 tons for the year 1933. Construction thereafter picked up, being 1,543,200 tons in 1935, 2,251,200 tons in 1936, 2,900,200 tons in 1937, with a decline to 2,668,900 tons for the year 1938. Mercantile shipping launched for the period 1926-29 averaged 2,363,000 tons, totalled 2,889,500 tons in 1930, fell to its lowest ebb of 489,000 tons in 1933, recovered to 2,117,900 tons in 1936, 2,690,600 (actual figure) tons in 1937, and had risen to 2,986,800 (provisional figure) tons for the year 1938. Actual tonnage afloat at the end of June 1938 was 67,846,500 tons, which is still below the figure of 68,074,300 tons for the year ending June 1929. These figures, however, tend to show that, despite naval construction, the carrying capacity of the world's mercantile marine is approaching pre-depression levels. Since, however, conditions were generally unfavourable to, and there were no signs of an expansion of, internatioal trade, the general tendency of freight rates was downward. According to the "Economist" index based on 1913-100, the average level, which had improved from 80.8 in January 1936 to 110.2 for December 1936 and stood in January 1937 at 116.5, had declined to 108.6 in December 1937, with a further fall to 92.8 by December 1938.

The total tonnage entered at the 20 leading ports of the world during 1937, the last year for which comprehensive figures are available, is shown hereunder:

New York

Singapore Marseilles

Buenos Aires. San Francisco

Southampton

Tons. 37,872,654

London.

31,249,463

Kobe

28,362,538

Rotterdam

26,487,733

Istambul

21,940,409

Osaka (1936)

20,632,819

Boston

Antwerp

20,592,228

Lisbon

Philadelphia

19,821,049

Hamburg

•

19,616,291

Shanghai (1937)

(1938)

Hongkong

18,131,943

Los Angeles.

Liverpool

17,689,368

Tons. 16,394,845

16,050,395

15,740,964

15,680,642

13,757, 353

13,554,973

13,338,595

13,254,437*

9,742,768 +

12,684,821

* Including 2,041,718 steamer tonnage entered from inland places.

+

1,737,495

""

""

In regard to shipping generally in China, affected as it was by the closure of the Yangtze and the Pearl Rivers and the blockade of the coast, reference to the Shipping tables appearing with this report will show that total entries and clearances at Chinese ports amounted to 59 million tons only as compared with 90 million tons in 1937 and 145 million tons during 1936. By flags, the order of importace was: British shipping, 28.6 million tons; Japanese shipping, 8.7 million tons; Chinese shipping (excluding junks), 5.5 million tons; Norwegian shipping, 3.6 million tons; German shipping, 2.6 million tons; Italian shipping, 1.7 million tons; Netherlands shipping, 1.6 million tons; Portuguese shipping. 1.5 million tons; French shipping, 1.3 million tons; and Danish shipping, 1.1 million tons. Of the reduced total of 59 million tons of shipping entered and cleared, 29.4 million tons entered from and cleared to foreign ports as compared with 35.4 million tons in 1937, while 29.7 million tons as compared with 54.6 million tons entered and cleared coastwise. These figures do not include the tonnage of vessels plying under Inland Waters Steam Navigation Regulations. As regards shipping with abroad, the leading ports in China were: Shanghai, with 34.58 per cent of the total tonnage as compared with 31.94 per cent in 1937: Tientsin, with 11.56 per cent as compared with 5.73 per cent; Canton, 10.08 per cent as compared with 12.78 per cent; Swatow, 7.56 per cent as compared with 8.39 per cent; Chinwangtao, 7.13 per cent as compared with 4.08 per cent; Tsingtao, 6.13 per cent as compared with 7.55 per cent; and Amoy, 3.73 per cent as compared with 5.17 per cent.