ENG-1947 — Page 88

The Dockyards.

In spite of a continued shortage of raw materials, the dockyards have been very busy during 1947 and over 4,000 vessels have been handled for minor or major repairs. Among the latter were the conversion from war service of two Dutch luxury liners, the m.v. "Ruys" and the m.v. "Boissevain". Much of the valuable equipment removed by the Japanese has still not been replaced and none of the Japanese equipment which it was hoped might be received as reparations has yet been forthcoming. Although repair costs remained high many shipping companies found it more economical to have repairs or overhauls carried out in Hong Kong because the speed with which the work was accomplished saved time which more than compensated for the extra cost. Repair work was estimated to have reached 95 per cent of its pre-war output, but little new building has been done because of the shortage of steel, and in this respect ship-yards only achieved 5 per cent of pre-war capacity. The largest vessel launched locally during the year was a waterboat for the harbour.

Preserved Ginger.

The chief difficulty with which this industry has had to contend is that the product is still regarded as a luxury so that although plant and equipment has been to a great extent rehabilitated, the production remains only at about 25 per cent of pre-war capacity. During the year, costs were substantially reduced, and the Ministry of Food agreed to permit the importation into the United Kingdom of 2.000 tons of ginger, as compared with 300 tons in 1946. Before the war, the normal quantity shipped was 3,000 tons. Interest is awakening in other markets, although one of the industry's principal subsidiary markets, Australia, is still closed.

Tobacco and Match Industries.

Both these industries have fully re-established themselves but, in the case of the match industry, after the initial post-war boom, severe competition was met in 1947 throughout the world. This competition was felt even in the local market and the factories have only been able to keep their markets in South East Asia by notable reduction in costs combined with a vigorous sales policy and constant improvement in the finished product. Costs of production have risen by 130 per cent since 1941, prices by only 42 per cent.

Paint Manufacture,

The boom in paint manufacture which began in 1946 has continued throughout the year under review. Production has not only recovered from the effects of the war but is now greatly in excess of any former standard. Large quantities have been sold locally and many orders for export have also been fulfilled.

60