FO371-23515 — Page 103

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CO DENTIAL Not for publication.

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HONG KONG GENERAL CHAMBER OF COMMERCE

REPORT ON SHIPPING AND INDUSTRIAL ACTIVITY, 1.4.39.

SHIPPING.

244

The Freight market is quieter. No fixtures reported

and the only enquiries received were for 3/4000 tons Rice,

Saigon to Taku Bar; 3000 tons Rice, Saigon to Philippines.

Offer came to hand for a Coal loading, Miike and Keelung to

Hong Kong but the business fell through as charterers (Japanese)

could not secure permits for shipment by foreign tonnage.

Regarding China coast trades, the demand from Tientsin

is dull. From Chefoo and Weihaiwei fair support is offering but

regular lines are experiencing acute competition from

"outsiders, and Japanese lines, who are drastically cutting

rates. Incidentally, it is reported Japanese steamers are

loading groundnuts etc., at North China ports ostensibly for

Shanghai but actually destined for Canton; these steamers do

not call at Hong Kong. Moderate support from Tsingtau. On

24th March news was received that the Japanese intend opening

the Tsingtau harbour to foreign and other tonnage, allocating 2

Berths at No. 1 Wharf and 1 Berth at No. 4 Wharf. No covered

storage, however, is available. The market from Shanghai to

northern and southern ports is strong. Good support from Hong

Kong whilst steamers are securing useful parcels from Swatow.

Latest reports indicate plenty of cargo offers at

Pakhoi but shipments are restricted on account of the recent

exchange control enforced by Chinese government. It appears

that though these regulations apply there are no facilities

arranged at Pakhoi to enable shippers to obtain exchange purchase

Commodities affected include wood oil, cassia,

certificates.

skins, gallnuts, feathers.

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