JAPANESE SEA TRADE

Dominion, Volume 11, Issue 206, 20 May 1918, Page 9

JAPANESE SEA TRADE

EFFECT OF THE WAR

REPORT OF OSAKA SIIOSEN KAISHA

A glimpse of tho ramifications and extent of Japanese eea-earrying trade is given in tho business report of tho Osaka Shoaen Ivahnshiki Kaisha (Osaka Mercantile Steamship Company, Ltd.) for the half-year ended December 31, 11)17. _ "Japan's marine transport business," says the report, "which had continued to increase its activity under the iufiuenco of tho vorld situation, appeared for a timo depressed when i'need by the chiuufo in international relations, such (is ths participation of America in the war, tho revolutionary disturbances in Eussia, etc., but cargo remained plentiful and freights maintained a high level, so that: tho business results of the company for the present term were strikingly satisfactory.' On tho. home lines, although with tho change in financial conditions, which followed tho promulgation of tho ordinance to regulate prices, markets for a time were dull and shipments ot genoral good 3 for country were hold back to somo extont, movements of cargo generally were brisk, freights gradually. advanced, and passengers travelled in grent numbers, so that the results were extremely good. "On the Japan fiea lines, although business tended to bo hindered by Russia's internal disorder and the depreciation of tho currency, the carriago of munitions and of necessities of daily life added up as before to a considerable quantity, and the Tsiirnga Vladivostok line was markedly flourishing, while the Otani Vladivostok circular route was reasonably prosperous. On tho Corean lines, both cargo and passengers fell off, but as a result of adjustment of the tonnage it rather appeared that there was an accumulation of goods awaiting shipment. Towards tho pud of the term shipments of rico in South Corea were abundant, and as freights ro.se receipts wore greater than those of the corresponding period in. the previous year. On the■ Fovirosan lines tbo financial position locally: gradually recovered, and (.sports o'f building materials, manures, and other general goods wore of considerable, quantity. On tho outward run the flourishing , condition of practically full carßOes,was seen, wliilo on tho homo" run imports of through cargoes of tea and fruit for America in. creased so tint results surpassed Ihoso of the corresponding term in tho previous year. On the-South China lines shipments at ports along the coast were dull for a time,-but exports of goods for South China via Formosa showed a marked increase, and no small increase in receipts was seen. On tho North China, lines the, Tientsin run was hit more than a little by the great Tientsin floods, but cargoes oil tho Dniren and other lines went ample, so that results not inferior to those of tho previous term were obtained. On the South Seas line, export of Japanese manufactures were considerable, whilo imports of sugar, copra, etc., reached a big total. Besides tho regular liners, one oxtra ship was dispatched, and each ship oa this run received full cargoes. In addition to this prosperity freights hardened, and very, excellent results were attained. On the Bombay line, on tho outward run, shipments were greater than over, and freights again rose, while on the homeward run overy ship obtained full cargoes of totton and results were not inferior to those of the , previous term. ■ On the Australian line, applications for cargo space were always abundant, and especially active were shipments from Japan and. Manila. In addition, Australian products came to Manila and district 111 increasing quantities to replace American prohibited imports, and thus returns surpassing thoso of the previous term were obtained.

"On the South American line, cargo from 'Japaa and intermediate ports for South America, end South Africa to replaco European goods reached a etrikingly largo amount. Further, as a result of thii AustiuUan export prohibition, the demand for the wool of • both districts increased more und more, and, adding to the regular liners, ono extra boat was dispatched to South America and two to South Africa. In addition to this activity, passengers lor Brazil worn Humorous and results were excellent. Ori the North American lines, since America's participation in. the war, exports of foodstuffs and munitions have increased and conditions were so flourishing that stocks continued to accumulate. In' addition to tho regular services, two or three extra ships were allotted monthly to copo with the transport required. On tho home run, although tho promulgation of tho American'export embargo resulted for & time in a shortage of cargo, as soon as cotton began to .jouie forward cargo spaco iviui amply filled, i-nd results wcro nioro than eve: , excellent. In audition to tho above regular Lorvices, measures weretaken to increase receipts in duo regard to tho movements of cargo by dispatching from time to time extra ships to North China and the Russian littoral, and every endeavour \,as rundo to transport tho coal and to chip tho rice and sugar destined for the South Seas. Most of tho tonnago obtained by the adjustment of tho Corean services already spoken of ■was employed in this direction, and resuite wore extremely good. "To sum up, (luring the term business remained brisk under the influenco of the world situation, and as newly-constructed ships wero put in service receipts reached a record amount. Of the thrco newly- " constructed ships of 0000 dead-weight tons, each purchased at the end of tho term, two wore- allotted to tho North American service and ono was put in ser. vice as an extra ship to South Ainca. Tho number of ships employed, nicludin" chartered vessels, at tho end ot tho term was 143, of a total gross tonnage ot 315100, allotted to ■«■ home and foreign services, und 1,063,1147 passengers and 18,163,537 pieces of cargo were earned during the present term, at a. chargo of yen 38,551,057.- Adding miscellaneous receipts, gross receipts of yen ■11,(jM,510 were obtained, subtracting from which a gross expenditure required cf yon 19,471,2fiC, ii profit of yen 22,192,248 was obtnincd. Compared with the same term last year this showed an increase in grass receipts of yen 17,220,021, and in profit of yen 10,138,455. Compared with the, last term, profits increased by yen 8,2b9,!H-.