FO371-23515 — Page 89

Page 89

CONF ID ENTI AL

Not for publication.

HONG KONG GENERAL CHAMBER OF COMMERCE.

230

REPORT ON SHIPPING AND INDUSTRIAL ACTIVITY, 10 MARCH 1939.

SHIPPING.

The market remains quiet. There is an improved

demand for rice from Saigon and Bangkok to Hong Kong, but

shipments at present are being confined to the regular

berth steamers. In the "outside" trades, a steamer has

been fixed for a rice loading, Saigon/Manila. As regards

coal, fixtures reported are Hongay/HongKong and Hongay/

Swatow.

In the China coast trades, the Tientsin market

is very strong, extra tonnage being urgently required.

This is attributed to the desire of merchants to ship

cargo before 10th Maroh when it is reported that the

Japanese are instituting an "exchange control on exports."

The situation at Chefoo and Weihaiwei is unchanged, but

if it is confirmed that the Japanese intend to modify the

existing control of exports, it is possible that better

cargoes will be offering. Satisfactory support from

Tsingtao but only fair from Shanghai. Good cargoes from

Hong Kong to the North, also from Swatow. It is reported,

however, that the Chinese Authorities at Swatow have

declared an embargo on the export of fifty classes of

commodities to territory under Japanese control. It is

not known yet how this will affect future support, but

Swatow shippers are enquiring as to prospects of routing

shipments via Hong Kong, i.e. similar to the method adopted

at Foochow.

Page 89

Page 89

In spite

Page 89

Page 89